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Tuesday, August 19, 2014

Citi considering sale of Japan retail banking unit - WSJ, (NYSE: C)

Citigroup Inc is considering the sale of its retail-banking business in Japan, the Wall Street Journal said on Wednesday, citing people familiar with the matter. Citigroup is considering a possible auction for the sale, the Journal reported.A sale will leave the bank to focus on its corporate banking, investment banking and trading business in Japan, the report said. ( bank has been scaling down its global operations ever since the financial crisis. It said in December 2012 it was withdrawing from consumer banking in Pakistan, Paraguay, Romania, Turkey and Uruguay.Citi was not immediately available for comment.

Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C traded higher by 0.75% or $0.3729/share to $49.88. In the past year, the shares have traded as low as $45.18 and as high as $55.28. On average, 15794200 shares of C exchange hands on a given day and today's volume is recorded at 7083433.