Citibank Singapore closing unit that serves small businesses

The move comes after Citigroup said it would exit from its consumer franchises in 13 markets. PHOTO: ST FILE
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SINGAPORE - Citibank Singapore is closing its CitiBusiness arm, which serves small and medium-sized enterprises (SMEs).

About 2,000 customers have been told that their deposit accounts will be closed with effect from Aug 11 and advised to transfer their balances before then.

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