ISTANBUL Dec 10 Citigroup is in talks
with Lebanon's Audi Bank on the sale of its consumer
banking unit in Turkey, part of the U.S.-based bank's plan to
rationalise its global businesses, senior banking sources said.
Audi's Turkish unit Odeabank is interested in acquiring
Citibank A.S.'s branches to expand in one of Europe's
fastest-growing economies, a top Turkish banking executive with
knowledge of the talks told Reuters late last week.
Citigroup, the third-biggest U.S. bank, said last week it
would cut 11,000 jobs worldwide to save as much as $1.1 billion
a year in costs and that the plan included selling or cutting
back its consumer operations in Turkey.
Newspaper Vatan said on Monday HSBC, which already
operates HSBC A.S., a major bank in Turkey with 333 branches, is
also interested in Citibank's Turkish branches.
Besides Citibank AS, the New York-based lender also owns a
10 percent stake in Akbank, Turkey's third-biggest
Citibank has not said it plans to sell its remaining Akbank