Citigroup has plans to export high-growth consumer businesses it inherited from Travelers Group to new markets in Europe and Asia next year.
The $688 billion-asset banking company said it intends to introduce its Atlanta-based financial planning subsidiary, Primerica Financial Services Inc., to consumers in Spain and Japan. Meanwhile, CitiFinancial Credit Co., its Baltimore-based consumer finance operation, is slated for launchings in the emerging markets of Eastern Europe and the Far East. Citi also plans to expand its credit card operations into Hungary, Poland, and the Czech Republic. The banking company, which has operations in 100 countries, is pinning much of the hope for growth in its consumer businesses on expansion abroad, said analysts and investors who have recently spoken with executives at Citi.