March 27 (Reuters) – Citigroup’s top executives are weighing buying a U.S. regional bank, Bloomberg News reported on Friday, as the Wall Street giant looks to wrap up a years-long effort to streamline its sprawling operations.
“Senior leaders of the New York-based firm have held preliminary discussions in recent months about trying to acquire a major U.S. regional lender to dramatically ramp up deposits,” the report said, citing people familiar with the matter.
“Some executives broached the possibility of a takeover during a meeting with US regulators this year,” according to the report.
Shares of the bank were last down 4.5% in afternoon trading.
Citigroup did not immediately reply to Reuters’ request for comment .
(Reporting by Manya Saini in Bengaluru; Editing by Shreya Biswas and Leroy Leo)
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