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SINGAPORE: Citigroup Inc has chosen preferred bidders for its consumer assets in several Asian markets as the US lender presses ahead with its plans to divest numerous units across the region, according to sources.
DBS Group Holdings Ltd. has sufficient capital to bid for Citigroup Inc.’s consumer assets in India valued at S$2.7 billion ($2 billion) without needing to raise additional funds, Sanford C. Bernstein & Co. analysts said. It’s a case of “either go big or go home” for DBS to further expand in India where the Singapore-based bank also acquired Lakshmi Vilas Bank Ltd. in November, Bernstein analysts led by Kevin Kwek wrote in a report Thursday. DBS Chief Executive Officer Piyush Gupta last month said he is interested in the U.S. bank’s assets that are for sale in the South Asian count...
Earlier, the bank had said the special home loan rate was available until March 31, 2021. Kotak Mahindra Bank has decided to continue its special interest rate on home loans of 6.65 per cent per annum. “In the interest of consumers and on the back of strong demand trends, Kotak continues to offer possibly the lowest home loan interest rate in the market,” it said in a statement on Monday, adding that the rate is applicable across all loan amounts. “Both fresh home loan applicants and balance transfer cases are eligible for interest rates beginning at 6.65 per cent per annum. Interest r...