Company Of The Day: Citigroup
Citigroup (NYSE:C) is nearing the sale of its retail banking franchise in Taiwan to DBS Group for around $2 billion, per a report from The Wall Street Journal.
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Last April, Citi indicated that it would exit retail operations in a total of 13 markets, 10 of which are in the Asia-Pacific region. The company has already reached deals to sell its consumer-banking operations in Indonesia, Malaysia, Thailand, and Vietnam.
With these deals, the bank would be able to focus on the higher-value wealth-management and institutional-clients business. Citi stock declined by about 2% in Tuesday’s trading, roughly in line with the broader market.
See Our Complete Analysis For Citigroup
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|S&P 500 Return||N/A%||-4%||105%|
|Trefis MS Portfolio Return||-9%||-9%||257%|
 Month-to-date and year-to-date as of 1/18/2022
 Cumulative total returns since the end of 2016