November 21, 2012 at 13:08 PM EST
Citi Cuts Back Greek Banking As Austerity Pinches
Citigroup (C) will shut almost half of its branch network in Greece because the nation's debt crises and tough austerity measures have dampened retail banking there. Citi, the last major international bank with a national presence, will shut all branches outside of Athens and Thessaloniki, the nation's two largest cities. That will leave it with 21 branches, from 37, Reuters reported. The closures will mean the loss of 170 jobs, or almost a 10th
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