Citi's record quarter in Asia

Asia is becoming increasingly important to the US bank as it continues to withdraw from high-cost businesses globally.

Citi's record quarter in Asia

Citi has posted its highest-ever quarterly revenue in Asia as the US bank continues to withdraw from high-cost businesses globally.

The bank announced late Tuesday that it was exiting consumer banking in a further 11 markets, including Japan, reducing these to 24 half of which are now in Asia. It withdrew from five other markets in 2012.

As the bank re-aligns its businesses globally to reflect areas in which it can be...

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