Source | www.moneycontrol.com | MONEYCONTROL NEWS
Citigroup announced on April 15 that it will shutter retail banking operations in 13 countries including India and China.
The American multinational investment bank and financial services company has said that it will exit consumer/retail operations in 13 countries across Asia and Europe.
The 13 nations Citibank (the largest foreign bank in India) will pull out from are Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam.
Notably, Citigroup’s Institutional Clients Group will continue to serve clients in the markets where it is ending consumer operations.