Figures on the global CEO's salary and earnings from Japan show why Citigroup is looking to offload its retail business in the Asian country, a report says.

Citigroup earned less from running a Japanese retail bank than its global chief executive earned in 2013, a fact that underscores why the US firm wants to unload this business, according to Bloomberg.

The point about the bank’s revenues come amid media reports – noted a few days ago – saying that Citibank is looking at selling its Japanese retail unit and has approached about 10 banks as potential suitors. The US-listed banking giant has previously declined to comment to this publication about the matter

The bank is reportedly examining the option because Japan's banking industry suffers from weak loan demand and falling interest margins, notwithstanding a recent revival in the state of the Asian country’s economy. Citibank Japan has 33 branches and $35 billion of deposits.

Citigroup has had a difficult history in Japan in recent years. 10 years ago, it was forced to shut its private banking operation in the country due to lapses concerning anti-money laundering regulations. Japan’s private banking industry remains heavily dominated by domestic players although some firms, such as Credit Suisse, have established operations in the country.

According to Bloomberg, Citibank Japan’s net income of Y1.34 billion ($12.9 million) in the year ended March. This compares with CEO Michael Corbat’s total 2013 compensation of $14.5 million for the same period.

One issue, the news service points out, is that the yield spread between deposit and borrowing rates has been squeezed by the Japanese government’s massive quantitative easing programme. Citigroup Japan net income of Y1.1 billion during the past three years. Its loans totaled Y356.1 billion, or about 10 per cent of its deposits at end of March, the report said.