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Citigroup has agreed to sell its consumer banking business in Hungary to Erste Group Bank of Austria.
September 2 -
Citigroup's second-quarter profit got a modest boost from Citi Holdings, a unit set up six years ago as a dumping ground for toxic assets. After losing billions for years, Citi Holdings has now become a minor profit source for its parent.
July 16 -
Citibank has joined a growing list of banks and vendors that have paid a stiff penalty for allegedly using deceptive marketing and billing tactics in selling credit card add-on products. It agreed to pay $770 million in fines and restitution charges, falling just short of a record fine issued last year.
July 21
Citigroup has agreed to sell its retail banking and credit card businesses in the Czech Republic to Austria's Raiffeisenbank.
Financial terms
The deal involves Citi's retail banking and cards business, consumer banking employees, branches and ATMs in the Czech Republic.
The agreement is Citi's latest move to unload consumer banking businesses outside the U.S. that are part of its Citi Holdings unit. Citi has also sold, or agreed to sell, banking units in Hungary, Panama and Costa Rica.
Citibank will continue to serve corporate and public sector clients in the Czech Republic as well as multinational companies with operations there.
