Citigroup dismisses report of potential US regional bank acquisition

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Citigroup has dismissed a Bloomberg News report suggesting its executives were considering acquiring a U.S. regional bank, calling it “baseless speculation.” The bank stated it is focused on organic growth and completing its multi-year transformation under CEO Jane Fraser, which aims to simplify its global structure and improve profitability. Citi is also working to resolve major regulatory punishments from 2020 related to risk management and data governance.

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