A bad week in Japan for the giant American bank
HOWEVER you view it, it looks painful. On September 17th, Japan's regulators ordered Citigroup to close its private-banking offices in Japan. The world's biggest bank by stockmarket capitalisation will soon be shut out of the world's second-biggest market for wealthy clients, where it has maybe 10,000 such customers and once had high hopes for boosting profits.
Do you know that Citi group has to shut it's Japan operations?