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Citigroups Australian business has banked a heavy loss for 2023 as its US headquarters works through a comprehensive restructuring that will slash thousands of jobs around the world.
The Wall Street bank recorded losses for 2023 at both its local security services division, which still houses some of its consumer banking business, and its markets arm, where Citi collects fees from investment banking and capital markets activities.
Citis local investment bank swung to a loss last year after a slump in dealmaking. AP
Citi booked much of last years corp…
Read the full article at: https://www.afr.com/companies/financial-services/citi-s-local-businesses-log-losses-amid-global-restructuring-20240402-p5fgp6