Citigroup selling its Japan retail bank business - Tokyo (AFP) - - TopicsExpress

Citigroup selling its Japan retail bank business - Tokyo (AFP) - Citigroup said on Thursday it was selling its century-old Japanese retail banking operations to major lender Sumitomo Mitsui as part of an effort to shrink its consumer business globally. Financial details were not released, but Japanese news reports estimated the deal to be worth about 40 billion yen ($333 million). Under the agreement, Sumitomo unit SMBC Trust Bank would acquire Citibank Japans operatio... ow.ly/2Sxfh3

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