Comment on Citigroup posts loss; banking giant will split in two

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.

 

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