Citi, HSBC Eye Sales Of Branches, Sections: Report
British capital — Banks admitting Citigroup and HSBC Holdings are seeing sales of everything from branches to entire units, The Wall Street Journal reported Friday, bringing up analysts and unknown executives. Citi could sell 80%-held Student Loan Corp , its North American auto-lending unit of measurement, its 24% stake in Brazil credit card military operation Redecard and the bank’s Japanese consumer finance business organisation, the written report said. New Citigroup CEO Vikram Pandit is reckonning laying off as lots of as 20,000 employees and sloughing business lines, the written report continued, mentioning people familiar with the affair. HSBC may sell its auto-finance concern, the written report added.