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Citibank Exiting 13 Consumer Banking Markets Globally As A Part of Strategic Review

by Kyle Chen April 17, 2021

Citibank Exiting 13 Consumer Banking Markets Globally As A Part of Strategic Review

source todayonline

Citigroup Inc (Citi) is exiting retail banking in countries include Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. Where this move, is a part of an ongoing strategic review under the chief executive officer Jane Fraser where they are going to double down on wealth by directing investment and resources to businesses where it has the greatest scale and growth potentials.

The bank will focus on its consumer banking business in the two regions from four wealth centres in Singapore, Hong Kong and the United Arab Emirates and London. The affected businesses included consumer franchise in Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. Its institutional client’s group will continue to serve clients in these markets.

If you have a Citibank account, you do not need to worry as Citi has announced the launch of their digital credit cards where it can still use to make an online payment, set up recurring payments and more.

source coindesk

 

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