Citigroup (C) Announces Discontinuation of Haiti Operations

Citigroup Inc. (C) will discontinue its operations in Haiti, marking the end of the company's more than five-decade presence in the country. This move will be immaterial to Citi and its international clients in economic terms.Citi will seek approval from Banque de la République d’Haiti (BRH) — Haiti’s central bank — to voluntarily surrender its banking license. However, international banking and correspondent banking services will remain accessible to existing clients.This move stemmed from a strategic busi ...