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Citigroup Inc. plans to apply for a variety of wealth management licenses in China, the Global Times said in a tweet. The firm wants approval to trade securities and futures, and underwrite the sales of stocks and bonds, according to the state-run newspaper. A Hong Kong-based Citigroup spokesman said the lender continues to “explore opportunities to support its local and global clients in China further.” The bank last week said it plans to exit retail banking in 13 markets across Asia, Europe, the Middle East and Africa as part of a strategic overhaul, though it will continue to serve cor...

URL copied Citi had entered India in 1902 and started the consumer banking business in 1985.  American banking major Citibank on Thursday announced that it will exit from the consumer banking business in India as part of a global strategy. The business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs approximately 4,000 people in the consumer banking business. On Thursday, the bank announced exiting from the consumer banking businesses in 13 countries, with its global CEO Jane Fraser attributing the deci...

Citibank to exit consumer banking business in India; to focus on institutional segment SECTIONS Last Updated: Apr 15, 2021, 09:47 PM IST Share Synopsis The consumer banking business comprises credit cards, retail banking, home loans and wealth management. The bank will be exiting the segment in India after more than three decades. The bank has 35 branches in the country and employs approximately 4,000 people in the consumer banking business. Citibank to exit 13 global consumer banking markets, including India and China American banking major Citibank on Thursday announced exiting the high vis...