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BRIEF-Banco Santander Rio to buy Citigroup's consumer business in Argentina
October 9, 2016 / 4:20 PM / a year ago

BRIEF-Banco Santander Rio to buy Citigroup's consumer business in Argentina

Oct 9 (Reuters) - Citigroup Inc

* Citi announces sale of consumer business in Argentina to Banco Santander Rio

* Says has reached a definitive agreement to sell its consumer banking business in Argentina to Banco Santander Rio

* Says does not expect the financial terms of the transaction to be material to its earnings

* Sale involves about $1.4 billion in assets for Citi in Argentina includes credit cards, personal loans retail brokerage business

* Consumer banking operations in Argentina will continue to operate in ordinary course through transition to Banco Santander Rio Source text for Eikon: Further company coverage:

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