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Mortgage Business
Big four confirms it s looking at Citi acquisition By Annie Kane 14 July 2021
A major bank has confirmed that it is in discussions with Citigroup about acquiring its Australian consumer business.
National Australia Bank (NAB) has confirmed that it is in discussions to buy Citi s consumer business, which was put up for sale in April of this year.
According to the major bank, there is no certainty these discussions will lead to a transaction , however NAB has said that it will update the market further if and when appropriate . NAB regularly assesses opportunities to acquire businesses that support its growth strategy in core banking markets, the bank said in an ASX statement. Earlier this year, NAB bought neo-bank 86 400 for its direct-to-consumer brand, UBank.
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