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SHARE Citigroup could fetch as much as $6 billion from the sale of retail banking assets in 13 markets across the Asia-Pacific, Europe and the Middle East as the lender forges ahead with plans to fine-tune its global branch network. The moves are part of a bigger refresh of Citigroup’s strategy under chief executive Jane Fraser, who took the helm in March. The sale process for Australia is the furthest along and the preliminary interest for many of the assets has come mainly from local players, sources told Bloomberg. Exits from other markets, such as South-East Asia and Poland, are at an e...

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Citi to exit Australian consumer business subscribe A A The investment banking company has announced that it is looking to sell its consumer banking business in Australia and 12 other markets. Citi has commenced a sale process of its Australian consumer business, which includes mortgages, credit cards, retail banking and wealth management for high-net-worth individuals. The sale comes as Citi looks to exit its consumer banking business in 13 markets, including Australia, following a “strategic review” which it undertook to focus its investment and resources to the businesses “that can ...

Mortgage Business Citi to sell Australian consumer business By Annie Kane 16 April 2021 Citi is to exit its consumer business, including mortgages, loans, retail banking and credit card operations, in Australia and 12 other markets. The group, which targets high-net worth individuals, has announced today that it will "pursue an exit" from its consumer banking business in 13 markets, including Australia, following a "strategic review". Inst...

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 sev...