: Citi closes sale of Indonesia retail banking franchise, declines to comment on layoffs

Citigroup Inc.’s stock C was up 0.2% on Monday as the bank said it closed the sale of its retail operations in Indonesia in its ongoing plan to scale back its overseas operations. Citi will continue its institutional banking efforts there. Citi completed the sale to UOB Indonesia its retail banking, credit card, and unsecured lending businesses, as well as the transfer of employees. Citi has now closed sales in nine of14 markets including Australia, Bahrain, India, Malaysia, the Philippines,...