TOKYO Aug 20 Citigroup Inc is considering
the sale of its Japanese retail unit and has already approached
about 10 banks, a source with direct knowledge of the matter
said on Wednesday, as the huge U.S. banking company faces poor
prospects of turning around the retail operations here.
Citigroup is preparing the sale of retail operations of
Citibank Japan, which has 33 branches and about 3.6 trillion yen
($US35 billion) in deposits, said the source, who was not
authorised to discuss the matter publicly.
A Citigroup spokesman declined to comment.
(1 US dollar = 102.9 Japanese yen)
(Reporting by Taiga Uranaka; Editing by Jan Paschal)