Citibank is eyeing the sale of roughly 50 branches in Texas, about half of the bank’s branch network in the state, according to The Dallas Morning News, citing undisclosed sources.
The branches represent $2 billion in customer deposits. Many of the locations to be closed are in rural areas of western Texas, one source said.
The move falls in line with Citibank’s strategy of refocusing on large urban areas. The sale of the branches could bring in $50 million for the bank.Related