Already a subscriber?Citigroup’s Australian business has banked a heavy loss for 2023 as its US headquarters works through a comprehensive restructuring that will slash thousands of jobs around the world.
Citi’s CPL division logged a $94.7 million loss, more than double the $45.8 million loss in 2022, financial statements filed with the Australian Securities and Investments Commission showed. “ operates its activities in Australia through several reporting entities. Due to regulatory requirements, Citi does not consolidate its Australian operational activities into one set of financial statements,” a spokesman for the bank told“Citi Australia performed well in 2023, with several businesses having record years.”
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