Citigroup Posts Loss; Banking Giant Will Split In Two

The company reports a fourth-quarter loss of $8.3 billion. The restructuring will result in a primary business focusing on commercial and investment banking. Citigroup Inc. reported an $8.3-billion fourth-quarter net loss today and announced that it would divide into two businesses, a fundamental restructuring that reverses the corporate expansion strategy it has vigorously pursued for two decades.

Topics:  citigroup inc   loss   banking   restructuring   fourth-quarter   
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