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Bloomberg News reported on the 19th (local time) that Citigroup is considering withdrawal from Asia, including Korea.
Bloomberg quoted a source and said, “With Jane Fraser’s inauguration, we plan to sort out the part of consumer sales that has expanded indiscriminately around the world.” The Philippines and Australia were included.”
The official said that the final decision has not been made, and there is a possibility to maintain the current business system. It also added that even if the withdrawal decision is made, it can be carried out in stages or by leaving the existing workplace.
Bloomberg said, “In 2015, while serving as head of Latin America, Fraser sold retail banking and credit card corporations in Brazil, Argentina and Colombia,” he said.
Last month, Fraser said through a spokesperson right after taking office, “We need to look at how the current business association and each part fit together,” and “the various options will be considered and we will have enough time to think before making a decision. In response to such remarks, the possibility of restructuring or withdrawal was raised internally and externally.
In the Asian market, Citibank’s retail banking sales fell 15% in the fourth quarter of last year to $1.55 billion.
Hankyung.com reporter Kim Hana [email protected]
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