The South Korean subsidiary of Citigroup has reportedly announced that it will partner with the nation's largest bank, KB Kookmin Bank, as well as the internet-only Toss Bank, for the transferring of its portfolio of unsecured personal loans, worth approximately ₩8 trillion ($6.1 billion).
The approach is a part of Citibank Korea's decision, made public in October of last year, to shut down its retail banking activities following the failure of its months-long pursuit for a buyer of the company.
In April of 2021, the firm’s parent group, US banking heavyweight Citigroup, decided to withdraw its consumer banking o