U.S. markets open in 3 hours 44 minutes
  • S&P Futures

    3,817.25
    -21.75 (-0.57%)
     
  • Dow Futures

    31,440.00
    -25.00 (-0.08%)
     
  • Nasdaq Futures

    12,465.00
    -198.75 (-1.57%)
     
  • Russell 2000 Futures

    2,177.90
    -11.80 (-0.54%)
     
  • Crude Oil

    66.20
    +0.11 (+0.17%)
     
  • Gold

    1,690.10
    -8.40 (-0.49%)
     
  • Silver

    25.38
    +0.09 (+0.35%)
     
  • EUR/USD

    1.1884
    -0.0041 (-0.34%)
     
  • 10-Yr Bond

    1.5540
    0.0000 (0.00%)
     
  • Vix

    27.63
    -0.94 (-3.29%)
     
  • GBP/USD

    1.3850
    +0.0022 (+0.16%)
     
  • USD/JPY

    108.4790
    +0.0970 (+0.09%)
     
  • BTC-USD

    50,258.34
    -813.48 (-1.59%)
     
  • CMC Crypto 200

    1,016.88
    +73.71 (+7.81%)
     
  • FTSE 100

    6,620.97
    -9.55 (-0.14%)
     
  • Nikkei 225

    28,743.25
    -121.07 (-0.42%)
     

Citigroup considering divestiture of some foreign consumer units - Bloomberg Law

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.

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.

The move, part of incoming Chief Executive Officer JaneFraser's attempt to simplify the bank, can see units in SouthKorea, Thailand, the Philippines and Australia being divested,the report added.

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

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

The bank did not immediately respond to a Reuters requestfor comment.

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)