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Citigroup (C) Enters Agreement to Sell Consumer Business in Argentina
October 10, 2016 7:52 AM EDTCiti (NYSE: C) announced that it has reached a definitive agreement to sell its consumer banking business in Argentina to Banco Santander Rio subject to regulatory approvals. Citigroup does not expect the financial terms of the transaction to be material to its earnings.
The sale involves approximately US$1.4 billion in assets for Citi in Argentina and includes credit cards, personal loans and Citi Argentinas retail brokerage business, as well as deposit accounts. Citis... More
