Citigroup agrees payout to shareholders

Citigroup agrees payout to shareholders

American banking giant Citigroup is to make a payment to shareholders to resolve a legal claim following massive losses during the credit crunch.

The bank was accused of hiding tens of billions of pounds of toxic assets, such as subprime mortgages, on its books.

The bank has now agreed to pay out £370m (€294.8m) as a settlement.

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