InvestorQ : Why has Citi decided to exit its operations in India?
Anu Biswas made post

Why has Citi decided to exit its operations in India?

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Ria Jain answered.
3 weeks ago
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Let me clarify that Citi is not exiting India entirely but only the retail and consumer banking operations. It is important because Citi was one of the early foreign banks to foray into India. Citi will shut its retail banking operations in 13 nations including India and China. It does not find the consumer banking business in India profitable any longer.

There has been immense competition from the growing heft of Indian private sector banks. Citi will also pull out of Australia, Bahrain, Indonesia, Korea, and a few more. The Citi institutional business will, however, continue to be serviced in India. Citi has had concerns that the lack of scale in countries like India was making it tough and competition was tight.
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