Citigroup to exit Argentina custody business amid bond turmoil

Citigroup Inc said on Tuesday it plans to exit its custodial business in Argentina as soon as possible, after a U.S. judge refused to lift an injunction that blocked the bank from processing interest payments on $2.3 billion of Argentina bonds. In a defeat for the bank, clients and Argentina itself, Citigroup said it made its decision in light of U.S. District Judge Thomas Griesa's March 12 order letting the injunction stand, and Argentina's renewed threats to strip its banking license