BANKING & FINANCE - June 21, 1994
From Times Staff and Wire Reports
Bank of the West Completes Purchase of Citibank Branches: The San Francisco-based unit of the French banking group Banque Nationale de Paris has completed its acquisition of Citibank’s California unit, expanding Bank of the West’s network in Northern California. The acquisition, whose terms were not disclosed, is the fourth by the unit in four years. Bank of the West’s branch network has grown from 39 to 106 since 1990. The branch sale is part of a restructuring of Citibank’s California operations. Last week, the Citicorp unit said it will sell the deposits of six San Diego County branches to Great Western Bank. After the restructuring, Citibank will have 89 branches in California.
