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Citibank to exit retail banking in 13 markets including Korea Posted : 2021-04-16 08:10 Updated : 2021-04-16 08:10 Pedestrians walk past the facade of a Citibank building in New York July 14, 2014. REUTERS-Yonhap Citigroup said Thursday it will exit consumer banking operations in 13 markets including South Korea as part of its global business reorganization. The U.S. banking giant opened its first branch in South Korea in 1967 and launched Citibank Korea Inc. in 2004 after acquiring KorAm Bank. The group announced it will withdraw from consumer franchising in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam as the company shifts focus to wealth management.

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