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Citi sells its businesses, because "they are probably less robust"

August 5, 2009 - 1:39am | Articles | Banks and internet banks
Citi sells its businesses, because "they are probably less robust"

Citigroup CEO Vikram Pandit said in an interview with Singapore`s Business Times that the bank plans to sell 20 businesses in consumer finance area, many of them located in Europe. The move was due to the shift in the consumer finance market where "there is less funding availability and they are probably less robust as businesses." Besides, Pandit added that on the completion of the exchange
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