|Citi Sells More Branches in Texas to BB&T|
Citigroup Inc (C.N) agreed to sell another 41 branches in Texas to BB&T Corp (BBT.N) as the third-largest U.S. bank cuts back on brick-and-mortar outlets and focuses on online banking.
The disposal follows the sale of 21 branches in the state to BB&T in December. Citi also sold its retail banking and credit card business in Spain to Banco Popular (POP.MC) in June and, according to a source, is considering selling its Japanese retail banking operations.
The latest sale includes retail branches in Dallas, Houston and Midland that had $2.3 billion in deposits and $87 million in loans.
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Published on our website on Sep.4, 2014