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Citigroup to close consumer banking franchises in Philippines, 12 other countries

Citigroup to close consumer banking franchises in Philippines, 12 other countries By TED CORDERO, GMA News Published April 16, 2021 1:00pm US banking behemoth Citigroup will be closing its consumer banking in 13 countries, including the Philippines, as it plans to refocus its global operations to areas with the “greatest scale and growth potential.” In a statement posted on its website, Citi announced its “strategic actions” in its Global Consumer Banking “as part of an ongoing strategic review, which will allow Citi to direct investments and resources to the businesses where it has the greatest scale and growth potential.” With this, Citi said it will focus its Global Consumer Bank presence in Asia and Europe, the Middle East and Africa (EMEA) particularly on four wealth centers Singapore, Hong Kong, the United Arab Emirates, and London.

Citi to close retail banking in Bahrain, India, China

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Citigroup to exit GCB consumer franchises in Malaysia, Thailand, Vietnam, and 10 more markets

Citigroup to exit GCB consumer franchises in Malaysia, Thailand, Vietnam, and 10 more markets Details Published: 16 April 2021 Citi will focus its Global Consumer Bank presence in Asia and EMEA on four wealth centers Singapore, Hong Kong, the UAE and London. The affected businesses include the consumer franchises in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam. Citigroup’s Institutional Clients Group will continue to serve clients in these markets. As such, Citi will focus its Global Consumer Bank presence in Asia and EMEA on four wealth centers Singapore, Hong Kong, the UAE and London.

CitiBank To Exit Consumer Banking In India: All You Need To Know

CitiBank To Exit Consumer Banking In India: All You Need To Know
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