TAIPEI :Singapore's DBS Group will announce on Friday it is to buy Citigroup's consumer finance business in Taiwan, two sources familiar with the matter told Reuters on Thursday.The sources, who spoke on condition of anonymity as they were not authorised to speak to the media, did not provide any further details.Citi announced last year that it would exit retail operations in 10 markets in Asia as it refocuses on its more lucrative institutional and wealth management businesses.
This month, Citi struck a deal to sell its consumer business in four Southeast Asian markets to United Overseas Bank for about S$5 billion .
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