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Post the acquisition of approximately 30 lakh unique customers of Citibank India, Axis Bank will have approximately 2.85 crore savings accounts, over 2.3 lakh Burgundy customers and 1.06 crore cards.
Citi India announces agreement to sell its consumer biz to Axis Bank for $1.6 bn
Yes Bank eyes Citi India's retail assets The India business of Citi includes retail banking, wealth management, credit cards and mortgages. It also has a presence in the distribution of financial services products, investment banking operations and treasury and trade solutions BusinessToday.In | May 3, 2021 | Updated 13:34 IST Yes Bank explores bid for Citi India's retail business Private lender Yes Bank is looking to bid for the Indian retail assets of Citibank. This move comes as the foreign bank is slated to partially exit 13 countries, including India. Yes Bank also joins a list of parti...
Why did Citibank exit India consumer business? © Dinesh Unnikrishnan Why did Citibank exit India consumer business? On 16 April, global banking behemoth Citibank said it will exit consumer/retail operations in 13 countries across Asia and Europe, including India. The other markets are Australia, Bahrain, China, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam. Although Citi's exit from consumer business is part of a global decision, it had its own – and good - reasons to review retail operations in India as well. Over the years, Citibank has been...
Citigroup Inc. plans to apply for a variety of wealth management licenses in China, the Global Times said in a tweet. The firm wants approval to trade securities and futures, and underwrite the sales of stocks and bonds, according to the state-run newspaper. A Hong Kong-based Citigroup spokesman said the lender continues to “explore opportunities to support its local and global clients in China further.” The bank last week said it plans to exit retail banking in 13 markets across Asia, Europe, the Middle East and Africa as part of a strategic overhaul, though it will continue to serve cor...