"The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh," Citi CFO Mark Mason said in a statement on Friday.Ĭiti expects the deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.
Many of those markets are in Asia-Pacific, including Australia, China, India and Indonesia. The New York-based bank will still retain control of its institutional businesses in Indonesia, Malaysia, Thailand and Vietnam.Ĭitigroup CEO Jane Fraser said last year that the bank will exit retail operations in 13 countries outside the United States to improve returns. Tangible common equity is a measure used to assess a financial institution's ability to deal with potential losses. Personal Loans for 670 Credit Score or LowerĬiti said it expects the deal to release approximately $1.2 billion of allocated tangible common equity and an increase to tangible common equity of over $200 million.
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