From Manila to Seoul, Citigroup ends an era of pan-Asian retail banking

US lender will prioritize Hong Kong and Singapore wealth management

20210416 citibank malaysia

Citibank headquarters in Kuala Lumpur. The U.S. bank is closing its retail business in Malaysia and a number of other countries in Asia © Reuters

NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent

HONG KONG -- Citigroup's decision to sell most of its Asian retail business after more than a century of operations marks an end of an era for several markets.

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