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Citigroup Inc. expects profit from its Taiwan operations to grow in 2008, following its US$427 million acquisition of the Bank of Overseas Chinese, an official said Saturday. Citigroup, the most profitable foreign bank in Taiwan, posted a pretax profit of NT$10.32 billion (US$320 million; euro215 million) during the three quarters ending Sept. 30, according to data on the Financial Supervisory C..
By Takahiko Hyuga April 27 (Bloomberg) -- Citigroup Inc. acquired 61 percent of Nikko Cordial Corp., Japan's third-biggest brokerage, falling short of the shares it needs to take full control. Nikko stock rose to 1,738 yen, more than Citigroup offered, as the U.S. company said it may seek more shares. Citigroup will pay 920 billion yen ($7.7 billion) in cash to Nikko shareholders who accepted th..
Citigroup Plans 10,400 Job Cuts By Patricia Lamiell AP Business Writer Tuesday, December 15, 1998; 3:10 p.m. EST NEW YORK (AP) — Citigroup announced 10,400 job cuts today, more than had been expected, as part of a major restructuring that will cost the company $900 million in lost earnings. The announcement marks the first time the company has divulged details of its huge restructuring program a..