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| Name | Symbol | Market | Type |
|---|---|---|---|
| Akbank Turk Anonim Sirketi (QX) | USOTC:AKBTY | OTCMarkets | Depository Receipt |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.095 | 2.29% | 4.24 | 4.20 | 4.36 | 4.46 | 4.20 | 4.20 | 12,653 | 21:00:02 |
From Jul 2019 to Jul 2024
By Chelsey Dulaney
Citigroup Inc. said Thursday that it has sold its 9.9% stake in Turkey's Akbank T.A.S. for about $1.2 billion, the latest move by the big U.S. bank to ratchet back its international operations.
Citigroup said it doesn't expect the sale to have a material impact on its finances.
Perhaps the most internationally focused of the U.S. megabanks, Citigroup has nonetheless exited a raft of markets lately as part of its global efforts to streamline its operations.
In October, Citigroup said it would exit 11 countries, including El Salvador and Guatemala.
The move is part of an agenda laid out by Chief Executive Michael Corbat to focus on wealthier customers in fast-growing countries, and to make the bank more manageable and less risky in the eyes of regulators.
Citigroup said Thursday that it is still committed to growing its business in Turkey, where it employs about 500 people.
Write to Chelsey Dulaney at chelsey.dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
1 Year Akbank Turk Anonim Sirketi (QX) Chart |
1 Month Akbank Turk Anonim Sirketi (QX) Chart |
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