Citi to sell Venezuela operations to BNC

Photo: Marco Bello – Reuters

 

Citigroup Inc (C.N) said on Monday it would sell its operations in Venezuela to Banco Nacional de Crédito (BNC), but did not disclose the terms of the deal.

By Reuters – Krishna Chandra Eluri

Jul 12, 2021

The sale to the Venezuelan bank, which has received regulatory approval, is expected to close in the next few weeks, Citi said.

“Citi is committed to Latin America and will maintain a strong presence in the region,” Citi Latin America Chief Executive Ernesto Torres Cantú said.

Read More: Reuters – Citi to sell Venezuela operations to BNC

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