Citibank is planning to sell the consumer banking operations it has run for a century in Argentina, Brazil and Colombia as South America's three biggest economies suffer a major downturn. The slowing of China's economy has plunged all three into an economic down spiral with Brazil, the region's biggest economy, struggling to emerge from its deepest recession since the 1930s. Citibank in 1914 opened its first foreign branch in Argentina, when the country rivalled Canada as an emerging agricultural powerhouse.
from Sniply: Australian Business & World Finance News - Yahoo!7 Finance http://ift.tt/213YS0e
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