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Citigroup Inc: Citi retreat highlights global banks struggle in China, India

Synopsis 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. Citigroup is also shuttering retail banking operations in countries from Australia to Indonesia and South Korea. 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 ltdCitigroup incMitsubishi ufjChief executive officer jane fraserState bankSouth asia

Citi s New CEO Taps Old Strategy With Exits In India, 12 Other Markets

Citi s New CEO Taps Old Strategy With Exits In India, 12 Other Markets Citi s New CEO Taps Old Strategy With Exits In India, 12 Other Markets Jane Fraser, who rose to the top of the firm last month, is on familiar ground as she moves to exit retail banking in 13 markets across Asia, Europe, the Middle East and Africa as part of a strategic overhaul. Jane Fraser is carrying out a multi-year remediation effort in wake of regulatory rebukes. As Citigroup Inc. simplifies its sprawling businesses, new Chief Executive Officer Jane Fraser is reaching for a familiar playbook: her own. Fraser, who rose to the top of the firm last month, is on familiar ground as she moves to exit retail banking in 13 markets across Asia, Europe, the Middle East and Africa as part of a strategic overhaul. Within a year of taking over the company s operations in Latin America in 2015, the former consultant oversaw sales of retail-banking and credit-card operations in Brazil, Argentina and Colombia.

United statesHong kongRepublic ofUnited arab emiratesCity ofUnited kingdomSouth koreaMark masonJane fraserMike mayoCiti holdingsWells fargo coCitigroup incOld strategy with exits in indiaChief executive officer jane fraserMiddle east

Citi s New CEO Taps Familiar Strategy With Retail Banking Exits

Citi s New CEO Taps Familiar Strategy With Retail Banking Exits
bloombergquint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bloombergquint.com Daily Mail and Mail on Sunday newspapers.

United statesHong kongRepublic ofUnited arab emiratesCity ofUnited kingdomSouth koreaMark masonJane fraserMike mayoCiti holdingsBloomberg as citigroup incWells fargo coChief executive officer jane fraserMiddle eastLatin america

Citi to exit retail banking in 13 markets, including Malaysia

Citi to exit retail banking in 13 markets, including Malaysia
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.

Hong kongRepublic ofUnited arab emiratesCity ofUnited kingdomSouth koreaJane fraserBloomberg citigroup incMiddle eastChief executive officer jane fraserNew york basedஹாங் காங்குடியரசு ஆஃப்ஒன்றுபட்டது அரபு அமீரகங்கள்நகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்

Citigroup India: Citi to Exit Retail Banking in 13 Markets Across Asia, Europe

Apr 15 2021, 8:52 PM April 15 2021, 5:28 PM April 15 2021, 8:52 PM (Bloomberg) Citigroup Inc. plans to exit retail banking in 13 markets across Asia and the Europe, Middle East and Africa region. (Bloomberg) Citigroup Inc. plans to exit retail banking in 13 markets across Asia and the Europe, Middle East and Africa region. The bank will instead operate its consumer-banking franchise in both regions from four wealth centers in Singapore, Hong Kong, the United Arab Emirates and London, it said Thursday in a statement. The move is part of an ongoing review of the companyâs strategy by Chief Executive Officer Jane Fraser, who took over last month.

Hong kongRepublic ofUnited arab emiratesCity ofUnited kingdomSouth koreaJane fraserBloomberg citigroup incMiddle eastChief executive officer jane fraserNew york basedஹாங் காங்குடியரசு ஆஃப்ஒன்றுபட்டது அரபு அமீரகங்கள்நகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்