Citigroup Weighs Acquisition of Major US Regional Bank
Citigroup leaders are weighing the purchase of a U.S. regional bank to boost deposits. Preliminary talks recently included meetings with federal regulators.
Citigroup Inc. is reportedly exploring the potential acquisition of a regional lender in the United States as the banking giant looks to conclude a multi-year restructuring process. Senior leadership at the firm has reportedly engaged in preliminary internal discussions over the past several months regarding a deal that would allow the bank to rapidly expand its deposit base. The possibility of a takeover was reportedly raised by some executives during a meeting with federal regulators earlier this year. These developments come as the New York-based institution nears the end of a major effort to simplify its sprawling international operations. Following the reports, shares of the company declined by 4.5% during afternoon trading sessions. Citigroup has not yet provided an official comment on the matter.
