Of Special Interest

15th July 2011

Citi may keep store card unit

It is suggested that Citigroup may decide to keep its white label store card unit. The unit currently sits within Citi Holding, the non-core group of companies for sale or run-off. The bank has attempted to sell the unit but has not liked the size of the offers that have been made. As the company's fortunes have improved and there is a general optimistic view towards cards business going forward this is understood to be an increasingly attractive route.