Citibank is looking to sell its retail banking division in Japan, according to sources quoted by Reuters. One of the only foreign banks to have opened up retail banking services in Japan, the firm operates 33 branches in the country with around $35B in deposits as of the end of March. Based on deposits, Citibank ranks as 30th among 64 top-tier regional banks in Japan, but suffers from having the last ranked loan book with an outstanding balance of only about $3.5B. Not being affected are Citi’s corporate, investment banking and trading businesses which will remain active in Japan. As reported in July, Japan’s ... (full story)