Is Citibank closing?

**v6dreamer** · January 24th, 2008 06:53 AM

Wag kang maniwala doon, its a wrong info. Kung magsara man doesnt mean na whole banking ng citibank, maaring mga small branch lang siguro kung nakikita nilang hindi productive sa lugar na kinalalagyan.

**theveed** · January 24th, 2008 08:23 AM

Like I said previously, whatever CC debt you may have is the least of your worries if such a large bank closes, chances are the world's economy will be screwed and your CC bill won't mean squat hehe.

**CVT** · January 24th, 2008 08:55 AM

According to the news I've read, there will be lay-offs.

But nothing was mentioned about the bank folding up.....

5202:threadmil:

**theveed** · January 24th, 2008 09:22 AM

Lagi naman may lay-offs sa Citi hehe... Every year they have mass hiring and mass lay-offs

**claRkEnt** · January 24th, 2008 09:37 AM

well, lay-offs doesn't mean folding up. with the technology today, they can afford to lay-off staff without necessarily affecting the operation, and at the same time save on operational costs. ACtually, yung mga outsourcing causes lay-offs pero on the other side, malaki natitipid nila.

**JohnM** · January 24th, 2008 09:49 AM

Hmmm kaya siguro nangungulit silang mag-apply ako ng personal loan. They need all the income they can get

**radiskull0415** · January 24th, 2008 09:53 AM

so pag lay off i don't have to pay my citibank bills for a span of time?

at pag nagclose naman mawawalan na ko ng utang?

**_Qwerty_** · January 24th, 2008 09:58 AM

pag di mo binayaran CC mo.. kukulitin ka nyang mga agents nang CitiBank.. makukulit pa naman yan..

**Galactus** · January 24th, 2008 10:11 AM

The Federal Reserve will never let Citibank close down. After all, it is the world's largest bank. Actually, it will never let any of its major banks close down (JP Morgan Chase and Bank of America), due to the potential economic fall-out it may cause, not only in North America but worldwide. Banks, after all, play a very major role in their financial markets and its closure will lead to a steep drop of investor/consumer confidence.

That's the major advantage of being a very, very large bank in the world's largest economy.

For those asking: Kung sakali ngang nag-sara, abswelto na ba utang ko? Sadly, no. Chances are, some AMC/SPAV will buy Citibank's loan portfolio (at a very steep discount), and as such, the assignment of receivables will be transferred from Citibank to the AMC. Sila na ngayon ang mainingil sa inyo.

**uls** · January 24th, 2008 10:15 AM

Parang ang sentiment dito gusto magsara ang Citibank para di na bayaran ang credit card bills haha

If citibank shuts down, it brings down $1.5T in client assets.

That's trillion with a T.

Like theveed said, pag nagsara ang citibank, we wouldnt be worrying about CC debts.

We would be worrying about our jobs and income.

Whoever citibank owes money to will also be brought down.

Since citi is soooo big, who knows how many individuals and companies and institutions will be brought down.