BREAKINGVIEWS-Citi is a prime candidate to revive big-bank M&A

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Stephen Gandel

NEW YORK, March 31 (Reuters Breakingviews) - Though it denies any interest, the Wall Street giant would benefit from a major tie-up. Extra scale should help slash the high cost of its deposits, while regulators are as amenable as they’ve been since 2008. Combining with regional lender Truist could generate $40 bln in value.

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CONTEXT NEWS

Citigroup executives are considering whether they should buy a regional bank, Bloomberg reported on March 27. The bank's executives have reached out to regulators, who were receptive to the idea of an acquisition, according to the report.

Citi dismissed the report, saying in a statement to Reuters that “the suggestion that Citi is planning to buy a regional bank, wealth brokerage - or any other financial services firm - is baseless speculation.”


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