Consumer banking will largely be retained by Citigroup under plans to split the banking group into a good bank and bad bank. The company confirmed the plan on Friday in conjunction with the release of its earnings for the December 2008 quarter.The continuing brand name of the good bank will be known as Citicorp, returning to the name that prevailed before the merger with insurance group Travelers in the late 1990s.The new look Citicorp will include most (but not all) of the retail bank; the corporate and investment bank in more or less its current form; global transaction services and the private bank.This business will have about US$1.1 trillion in assets of 56 per cent of the current asset base.Citi Holdings - which will remain part of the group and is not being wholly separated - will include Citi's asset management and consumer finance segments, including CitiMortgage and CitiFinancial as well as Citi's 49 percent stake in the broking joint venture with Morgan Stanley.In Australia Citigroup will retain its consumer banking business, and indeed all of Citi's Australian business will remain and operate either under the global institutional bank or the global consumer bank, as they do now.