Page 7 - Peter Babej News Today

Asia-Pacific CEO says region vital as it focuses on institutional banking, wealth management. . Read more at straitstimes.com.

Citi is selling its consumer businesses in Asia and EMEA to local and regional competitors.

Taipei, Jan. 28 (CNA) Citigroup Inc. (Citi) has reached an agreement with DBS on the acquisition of Citi's consumer banking franchise in Taiwan (Citi Consumer Taiwan), including transferring about 3,500 staff employed by the retail arm, according to both multinational financial services corporations Friday.

Banking news

Consumer banking operation has taken up 48 per cent of the overall hires, followed by 31 per cent for the institutional businesses, with the remainder in support functions. . Read more at straitstimes.com.

SINGAPORE - Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for about S$5 billion, bringing the US bank closer to its goal of exiting retail operations in 13 markets. The proposed acquisition by Singapore's UOB will be its biggest in two decades and double its retail customer base in the...

Citigroup has agreed to sell its consumer business in four South-East Asian markets to United Overseas Bank (UOB) for about S$5 billion ($3.7 billion), bringing the US bank closer to its goal of exiting retail operations in 13 markets.

KUALA LUMPUR: United Overseas Bank Limited (UOB)’s subsidiaries have entered into agreements to acquire Citigroup’s consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam.

Citigroup Inc agreed to sell consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank (UOB) Ltd for about S$4.9 billion (US$3.6 billion), as Chief Executive Officer Jane Fraser continues her push to simplify the New York-based bank.

Citi on Friday announced it has reached an agreement with UOB Group (UOB) on the acquisition of Citi’s consumer banking franchises in Việt Nam, Indonesia, Malaysia and Thailand.