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UPDATE 1-Citigroup considering divestiture of some foreign consumer units - Bloomberg Law

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(Adds Citigroup response)

Feb 19 (Reuters) - Citigroup Inc is consideringdivesting some international consumer units, Bloomberg Lawreported on Friday, citing people familiar with the matter.

The discussions are around divesting units across retailbanking in the Asia-Pacific region, the report https://bit.ly/3pD57WPsaid.

"As our incoming CEO Jane Fraser said in January, we areundertaking a dispassionate and thorough review of ourstrategy," a Citigroup spokesperson told Reuters.

"Many different options are being considered and we willtake the right amount of time before making any decisions."

The move, part of Fraser's attempt to simplify the bank, cansee units in South Korea, Thailand, the Philippines andAustralia being divested, the Bloomberg report said.

However, no decision has been made, according to the report.

Revenue from Citi's consumer banking business in Asiadeclined 15% to $1.55 billion in the fourth quarter of 2020.

The divestitures could be spaced out over time or the bankcould end up keeping all of its existing units, the Bloombergreport said.

The firm is also reviewing consumer operations in Mexico,though a sale there is less likely, the report said, citing oneof the people.

Last month, New York-based Citigroup beat profit estimatesbut issued a gloomy forecast for expenses. Finance head MarkMason said the lender's expenses could rise in 2021 in the rangeof 2% to 3%, weighing on its operating margins. (https://reut.rs/2ZwXRB1)(Reporting by Niket Nishant in Bengaluru; Editing by MajuSamuel)