Citi retail units seen fetching US$6 billion as sales kick off

The Straits Times2021-04-23

(BLOOMBERG)- Citigroup could fetch as much as US$6 billion from the sale of retail banking assets in 13 markets across the Asia-Pacific region, Europe and the Middle East as the lender forges ahead ...

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Comments

ElPhoenix
2021-04-23
ElPhoenix
Wowww
- TemasekHodl:
  Wow
schsch
2021-04-23
schsch
pls like and comment thanks
- cozyli:
  done..pls reply..thanks
- schsch:
  thanks [财迷]
- ZY91:
  Done!
小小馒头
2021-04-23
小小馒头
Please help to like and comment! Thanks!
- DollarvanReply小小馒头:
  ?
- 小小馒头:
  Thank you!
- Dollarvan:
  Hosehbo
- Dollarvan:
  Comment!
- 小小馒头:
  Hoseh-hoseh
dumdum
2021-04-23
dumdum
Like n comment
- schsch:
  ok do the same
WGSsss
2021-04-23
WGSsss
Good
累 and tired of life
2021-04-23
累 and tired of life
Good start
- heximania:
  yeet

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Still, that was chipped away by operating expenses and provisions for credit losses, which left the combined units without a profit for the year.\nFollowing the exits, Citigroup will instead operate its consumer-banking franchise in the Asia-Pacific region, Europe, the Middle East and Africa from four wealth centres in Singapore, Hong Kong, the United Arab Emirates and London.\n\"The decision to pursue exits for the other consumer businesses in these regions was of course difficult - each is a source of pride, with talented teams passionate about Citi and our customers,\" Peter Babej, CEO of Citigroup's Asia-Pacific region, said in a LinkedIn post. \"However, a comprehensive review concluded that doing right for the long term requires allocating additional resources to where we provide the most differentiated solutions to clients.\"\nA Citigroup representative declined to comment on the timing and size of the sales.\n\n\n\n\n\n\nThe sale of some of the retail businesses may be fairly complicated.\nIn Poland for example, Citigroup has a roughly 75 per cent stake in Bank Handlowy. 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For now, Citigroup is using its own internal mergers-and-acquisitions team to handle the sales.\n\"Citi's consumer bank in Australia is an attractive and profitable business, employing highly skilled and dedicated team members,\" Marc Luet, CEO for the Australia unit, said in a statement last week. \"Citi is committed to securing the best possible outcome for our employees and our customers.\"\nIn India, Citigroup's formal sales process will begin next month, according to officials with knowledge of the matter. Citigroup is seeking to sell the entire consumer portfolio in one go to a single player, the officials said. 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","text":"Done! ","html":"Done! "}],"langContent":"EN"},{"id":376431139,"gmtCreate":1619140833621,"gmtModify":1704720238524,"author":{"id":"3580629550243320","authorId":"3580629550243320","name":"小小馒头","avatar":"https://static.tigerbbs.com/8662af09a6a7d2e9548f6a2e76832bc6","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Please help to like and comment! Thanks!","listText":"Please help to like and comment! Thanks!","text":"Please help to like and comment! Thanks!","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":5,"commentSize":12,"repostSize":0,"link":"https://ttm.financial/post/376431139","repostId":2129348463,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4136804,"gmtCreate":1619425764206,"gmtModify":1680785647100,"authorId":3555014251535651,"author":{"id":3555014251535651,"authorId":3555014251535651,"name":"Dollarvan","avatar":"https://static.tigerbbs.com/0316ab12b442ee2cd79936de06de5089","vip":1,"currentWearingBadge":{"badgeId":"44212b71d0be4ec88898348dbe882e03-2","templateUuid":"44212b71d0be4ec88898348dbe882e03","name":"Executive Tiger","description":"The transaction amount of the securities account reaches 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