Citigroup Inc on Friday unveiled a broad restructuring plan designed to shed weaker businesses and troubled assets, and also reported an $8.29 billion fourth-quarter loss, its fifth straight quarterly loss.
The loss equaled $8.29 billion, or $1.72 per share, and compared with a loss of $9.8 billion, or $1.99 cents.
Citigroup said it is splitting into two operating units, one of which will focus on universal banking, the other of which will focus on brokerage and retail asset management, local consumer finance, and a pool of assets that require special management, reported Reuters.
