NEW YORK: Citigroup Inc is considering cutting its cash on hand by about $35 billion, which should help the bank buy higher yielding assets or redeem expensive debt to boost earnings.
Making the change will signal that the management of the third-largest U.S. bank by assets, which had to be rescued three times by the U.S. government in the financial crisis, is increasingly confident that its worst troubles are well behind it.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
