BANKING & FINANCE - March 12, 1992
From Times Staff and Wire Reports
Citicorp May Sell Part of Credit Card Business: Citicorp is trying to sell a piece of its credit card business that processes card charges for merchants, according to a story in American Banker. Citicorp declined comment on the report, which said Citicorp was trying to sell Citicorp Establishment Services. There’s been persistent speculation among bank analysts that Citicorp would sell a piece of its mammoth credit card business as it tries to improve its capital levels. The Citicorp Establishment Services routes receipts and payments among merchants who accept credit cards and the banks that issue them. It is the nation’s third largest processor of card transactions for merchants, the newspaper said.
