【Youth Daily】 It appears that Citigroup is considering withdrawal from Asia, including Korea.
On the 19th (local time), Bloomberg News reported that Citigroup is considering selling its retail finance business in Asia-Pacific regions such as Thailand, the Philippines, and Australia, citing well-known sources.
In January, just after taking office, Jane Fraser told a spokesman last month, “As CEO Jane Fraser said last month, the group is looking back on our strategy with a cold look.” I will have it.”
The news agency also explained that this was part of the newly inaugurated Jane Fraser Citigroup CEO’s attempt to simplify banking. Citigroup currently has 12 markets in Asia Pacific including Korea.
When the decision to withdraw from the Asia-Pacific region is decided, Citigroup plans to sell the corporation to a local bank. CEO Fraser has a history of selling retail banking and credit card corporations in Brazil, Argentina and Colombia while serving as head of Latin America in 2015.
If Citigroup decides to withdraw from the Korean retail banking market, the possibility of the sale of Citibank Korea cannot be ruled out. Citibank opened its first branch in Korea in 1967, and was merged with Hanmi Bank in 2004 to become Citibank Korea.
However, Bloomberg News said, “No decision has been made yet.”
【Youth Daily = Reporter Inara】