Citigroup Inc. warned it will incur “significant” charges in coming years as it winds down retail-banking operations in South Korea.
The New York-based company said earlier this year it would exit retail banking in South Korea and 12 other markets. While it signed a deal in August to sell its operations in Australia, Citigroup’s board on Friday approved the wind-down plan for Korea, the bank said in a regulatory filing Monday.
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October 25, 2021 at 07:05PM
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Citi Warns of Charges With South Korean Retail-Banking Exit - Bloomberg
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