Citi selling US$1.6 billion in retail sales finance assets to GE Capital
Citigroup is selling US$1.6 billion in retail sales finance assets to GE Capital as the bank continues to restructure its business to focus on core consumer banking operations.
Citi will sell its German retail business to France's Credit Mutuel for $7.7 billion, it said on Friday, part of a global reorganization of the US bank.