Citigroup will be divided into two companies

The American financial giant Citigroup reorganizes the business by dividing into two separate companies - Citicorp and Citi Holdings, the company's press release reports. The decision was made with the aim of optimizing operational activities and improving opportunities for future growth.

The Citicorp is distinguished as a result of restructuring will become an international universal bank, represented in more than a hundred countries. It is assumed that he will provide retail and corporate financial services, issue credit cards, provide investment banking services. According to Citigroup, its aggregate assets will amount to 1.1 trillion dollars.

At the same time, Citi Holdings will combine brokerage services and retail assets.

The specific terms for the completion of reorganization are not yet called.

Following the results of the last year, the net losses of Citigroup amounted to $ 18.7 billion against profit of $ 3.6 billion in 2007.