Citi announces to agreement to sell consumer Bank to DBS
In early 2022 Citi announced that it has reached an agreement with DBS on the acquisition of Citi’s consumer banking operations in Taiwan. In this deal DBS would be acquiring Citi’s banking franchises across Taiwan. This also means that DBS absorbs the nearly 3500 employees who were previously employed. Citi expected this transaction to release approximately $800 million in tangible common equity.
New Activity|ESG|Structural|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
Lorem Ipsum text header Report Title
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Maecenas non leo lacinia, consectetur ipsum non, pretium augue. Vestibulum accumsan dignissim massa, eu scelerisque mi malesuada ut. Aliquam scelerisque facilisis nisl ac varius. Nunc luctus nunc vel eros iaculis, vitae tristique ante fringilla. Ut vitae vulputate est, vel lacinia nisi. Curabitur eget nulla vitae mi faucibus imperdiet. Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.
Cras sagittis arcu eu diam pharetra iaculis eget sit amet risus. Morbi eget turpis ut diam commodo congue id eu lacus.