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Citi s retail unit less attractive than securities firms to BNK, JB, DGB
Posted : 2021-04-30 16:26
Updated : 2021-04-30 17:11
From left are BNK Financial Group Chairman Kim Ji-wan, JB Financial Group Chairman Kim Ki-hong and DGB Financial Group Chairman Kim Tae-oh. Korea Times files
By Park Jae-hyuk
BNK, JB and DGB financial groups have said they will reduce their reliance on the banking sector and focus more on the securities business to boost their profits, raising concerns that Citigroup may face difficulties in finding a buyer for its retail banking operations here.
The U.S. financial giant announced earlier this month that it would halt consumer banking services in Korea and 12 other markets. Despite their denials, the provincial banking groups were considered as strong candidates to acquire Citibank Korea s retail operations to expand their presence in the Seoul metropolitan area.