	citibank norway unit loses six mln crowns in citibank a s cci n the norwegian subsidiary of the u s based bank said it made a net loss of just over six mln crowns in although foreign bankers said they expect it to show profits after two lean years citibank s oslo treasury head bjoern sejerstad told reuters citibank one of seven foreign bank subsidiaries operating in norway lost money because of restructuring for investment banking away from commercial banking and an economic slump in norway following last year s plunge in oil prices foreign banks have been allowed to operate susbidiaries in norway since foreign banking analysts in oslo said access to norway s second hand securities and equities markets to be approved later this spring and lower primary reserve requirements would make profit this year citibank lost crowns in norway in but sejerstad said a profit was likely this year because of planned liberalisation and better economic performance helped by a steadier oil price of around dlrs a barrel earlier this year chase manhattan bank s cmb n subsidiary decided to stop foreign exchange trading after heavy losses and focus instead on fee based merchant banking reuter 
