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 Citibank exit Malaysia, Bye bye

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2malaysia
post Apr 15 2021, 10:49 PM

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The bank is exiting consumer operations in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam.

"unquote

TS missing the 13 countries above...According to https://www.cnbc.com/2021/04/15/citigroup-c...gs-1q-2021.html

“As a result of the ongoing refresh of our strategy, we have decided that we are going to double down on wealth,” Fraser said in the release. The move to focus on the remaining markets
“positions us to capture the strong growth and attractive returns the wealth management business offers through these important hubs.”

Citigroup lacked the scale to properly compete in the 13 markets it is leaving, she said. Investment banking operations will continue in markets where the firm is exiting consumer operations, the bank said.

 

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