Citi to strengthen position with sale of Nikko Cordial

05/1/2009 | Financial Times (free content)

The sale of Japanese brokerage Nikko Cordial to Sumitomo Mitsui Financial Group will boost Citigroup's balance sheet by about $2.5 billion. The move is expected to bolster Citi's hand as it discusses with regulators the results of the government's stress tests. Bankers said the sale will increase Citi's tangible common equity while resulting in an accounting loss.

View Full Article in:

Financial Times (free content)

Published in Brief: