Posted AT 10:36 AM EDT on 09/05/08
Citigroup to sell $500-billion in assets
NEW YORK — — Citigroup Inc. said Friday it aims to shed about $500-billion (U.S.) in assets and grow revenue by 9 per cent over the next few years, as it tries to rebound from massive losses tied to deterioration in the mortgage and credit markets.
The bank's plans to wind down its $2.2-trillion in assets to approximately $1.7-trillion were part of an investor day presentation.
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