I applaud: Citigroup Sells Uruguay U...

I applaud: Citigroup Sells Uruguay Unit to Itau as Corbat Retreats..

Posted in the Banking Forum

A Justday

Buffalo, NY

#1 Jun 30, 2013
Finally, Corbat is doing something right...Corbat, 53, is exiting or scaling down Citigroup’s operations in some of its markets outside the U.S. as he seeks to eliminate costs at the New York-based lender. He announced plans last year to pull back from consumer operations in five countries including Uruguay, is mulling a withdrawal from businesses in a further 21 countries, and agreed to sell the Credicard unit in Brazil to Itau last month...

Be A Great Bank in US but not a Global Bank!!!

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