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.”
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: