Global bank Citi is closing operations in Australia Posted 2 updated 1 Citi Australia is selling off its retail banks. ( Share Print text only Cancel Global bank Citigroup has put its consumer banking business up for sale in Australia and 12 other countries, including India and China, as it focuses on more profitable parts of its business like investment banking. Key points: Citi Australia has 1.8 million customers for its consumer banking services It is the fifth largest credit card issuer in Australia, with 12 per cent of the market Citi Australia says it has received interest from several potential buyers. The bank is the fifth-largest issuer of credit cards in Australia, behind the big four banks, and was the first foreign bank to be granted a banking licence in 1985.