Selling a unit may improve Citigroup's stress test score


Citigroup (C) may have just improved its outlook among bank "stress test" examiners. It has sold its Japanese units for $5.9 billion.

According to Reuters, "Sumitomo Mitsui Financial Group, Japan's third-largest bank, will buy Citigroup's Japanese brokerage and key investment banking units for $5.9 billion in a deal likely to reshape Tokyo finance and create a banking powerhouse."

Originally published