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Citi Retreat Highlights Global Banks’ Struggle in China, India Apr 16 2021, 1:10 PM April 16 2021, 10:47 AM April 16 2021, 1:10 PM (Bloomberg) Citigroup Inc.’s plan to exit its retail business in China and India underscores the frustrating battle for market share international banks face in two of Asia’s largest economies despite plowing in billions of dollars over the past decade. (Bloomberg) Citigroup Inc.’s plan to exit its retail business in China and India underscores the frustrating battle for market share international banks face in two of Asia’s largest economies despite plowing in billions of dollars over the past decade. Increased rivalry from domestic lenders, especially in consumer financing, and fierce competition for top talent contributed to the challenges that overseas banks have often struggled to overcome. High capital and regulatory requirements also proved onerous.

South koreaCitigroup fraserMckinsey senguptaJane fraserJoydeep senguptaStandard chartered plcFinancial group incHoldings plc to singaporeIndia lakshmi vilas bank ltdMckinsey coGroup holdings ltdMitsubishi ufjBloomberg citigroup incChief executive officer jane fraserState bankSouth asia