Citibank Germany: For the Chop?

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Market Movers

by Ryan Avent

Main

Why is Insider Trading Illegal? Blogonomics: Why Media Companies Wil...

May 9 2008 7:51AM EDT

Apparently Citigroup is considering selling off as much as $400 billion in "non-core assets", including its retail banking operations in Germany.

Is Citibank Germany really non-core? It would seem so. I bank with Citi in the US, and on Wednesday I used my ATM card to withdraw some euros from the Citibank on Friedrichstrasse in Berlin. The transaction has now appeared on my online banking statement. As a "NONCITIBANK ATM WITHDRAWAL".

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