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Citigroup to exit consumer banking operations in India, 12 other countries-Here is why

Citigroup to exit consumer banking operations in India, 12 other countries-Here is why © Provided by Zee Business In a major developemnt, Citigroup has decided to exit from consumer banking operations in 13 countries, including India. The move is aimed at global restructuring to allocate resources in markets with scale and with this objctive, Citigroup is all set to exit consumer banking operations in India as well as 12 other countries.   The affected businesses include the consumer franchises in India, Australia, Bahrain, China, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. See Zee Business Live TV Streaming Below: The multinational investment bank headquartered in New York on Thursday announced strategic actions in the global consumer banking segment as part of an ongoing strategic review, which will allow Citi to direct investments and resources to the businesses where it has greatest scale and growth potential.  

Citi to close retail banking in Bahrain, India, China

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Citigroup to exit GCB consumer franchises in Malaysia, Thailand, Vietnam, and 10 more markets

Citigroup to exit GCB consumer franchises in Malaysia, Thailand, Vietnam, and 10 more markets Details Published: 16 April 2021 Citi will focus its Global Consumer Bank presence in Asia and EMEA on four wealth centers Singapore, Hong Kong, the UAE and London. The affected businesses include the consumer franchises in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. Citigroup’s Institutional Clients Group will continue to serve clients in these markets. As such, Citi will focus its Global Consumer Bank presence in Asia and EMEA on four wealth centers Singapore, Hong Kong, the UAE and London.

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