Citigroup can sell bank division in Germany
The largest bank in USA Citigroup Inc. considers an opportunity of sale one of its divisions on rendering retail bank services in Germany Citibank Privatkunden AG and Co. KgaA.
Nevertheless, no decision on the further destiny of division has been accepted yet.
The sources close to Citigroup, prove, that the Deutsche Bank is considered by management Citigroup as the strategic active, however, the variant of its sale has arisen after a number of the companies have expressed interest in purchase Citibank Privatkunden.
Last week new Citigroup chapter has informed that the bank is measured to leave the nearest years not profile actives at the rate of 400 - 500 billion dollars for returning to profitableness. Citigroup’s cumulative actives make 2,2 billion dollars.
Citigroup’s financial stability has seriously suffered from world credit and financial crisis. In IV quarter of 2007 the bank has fixed losses at the rate of 9,8 billion dollars, in I quarter of 2008 Citigroup’ pure loss has made 5,1 billion dollars
