Citi sells Taiwan consumer unit to DBS in completed deal

Citigroup has completed the sale and migration of its Taiwan consumer businesses to Singapore's DBS Group, including retail banking, credit card, mortgage, and unsecured lending businesses, as well as the transfer of close to 3,000 employees. The transaction is expected to release $1.2 billion in capital. Citi has signed sales agreements for consumer units in nine markets and plans to exit consumer banking across 14 markets globally.