Citigroup, the U.S. bank with the broadest global reach, isn't so keen on globalization these days. It's pulling out of 11 countries.
The global retreat is occurring in Citi's (C) consumer banking division and impacts the Czech Republic, Egypt and Japan. The moves are aimed at narrowing the bank's focus to the markets where it has a competitive advantage.
Citigroup shrinks global footprint, exits Egypt and Japan - Oct. 14, 2014
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