(Reuters) - Citigroup Inc said on Tuesday it would exit consumer banking in 11 markets, as the most international of the big U.S. banks looks to shrink its way to better profits.
Citigroup also reported a 13 percent rise in adjusted third-quarter net profit, helped by better results from its portfolio of troubled assets left over from the financial crisis.
Adjusted net profit for the quarter rose to $3.67 billion, or $1.15 per share, from $3.26 billion, or $1.02 per share, a year earlier.
The third-largest U.S. bank said it would exit its consumer operations in six Latin American countries, as well as Japan, Egypt, the Czech Republic, Hungary and Guam. Citigroup said it would continue to serve institutional clients in these markets.
(Reporting by David Henry and Anil D'Silva; Editing by Saumyadeb Chakrabarty)
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