Citigroup Sells Diners Card.

The article reports on the decision of Citigroup Inc. to sell its North American Diners Club credit-card business in 2009. It cites the plan of Canadian lender Bank of Montreal to acquire the business which is expected to increase its corporate-card revenue to approximately 11 billion U.S. dollars. Bank of Montreal cited that Diners Club U.S. posted 7.8 billion dollars in card transactions in 2008. The purchase allows the bank to have an access to 6,000 corporate clients and over 100,000 small-business and rich professional cardholders, mostly in the U.S.