Citigroup agreed to sell its consumer-banking business in Taiwan to DBS, as it shrinks its international retail footprint to focus on serving businesses and affluent clients
Citigroup Inc. agreed to sell its consumer-banking business in Taiwan to Singapore-based DBS Group Holdings Ltd. , the latest in a series of divestitures as it shrinks its international retail footprint to focus more on serving businesses and affluent clients.
The deal, which includes a premium for Citigroup of more than $700 million, means it has now found buyers for seven of the 10 consumer markets in the Asia-Pacific region that it had wanted to exit.
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