Citi’s Consumer Company in China: Years of Red Ink

SHANGHAI—When Citigroup Inc. started taking deposits from Chinese families in April 2007, the bank observed with gongs and television teams placed at its teller windows. It ’s a landmark indicated annually in red ink. Citi has lost almost $350 million since 2009 attempting to serve consumers that are Chinese, according to amounts in its Chinese unit’s small-seen yearly filings. The bank’s businesses in the state are lucrative complete, trading and thanks to its company serving [...]

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