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Axis Bank set to buy Citigroup’s India retail unit for $2.5 bn: Report

by AIP Online Bureau | Feb 14, 2022 | Banking & Bancassurance, Indian News, Intermediaries, Wealth Management/ Philanthropy

For Citigroup Chief Executive Officer Jane Fraser, the planned India retail sale is part of a restructuring to simplify the U.S. lender, do away with its retail banking operations in 13 countries across Asia and Europe, and focus on high-growth businesses such as...

Axis Bank emerges as highest bidder for Citi consumer biz

by AIP Online Bureau | Dec 21, 2021 | Banking & Bancassurance, Indian News, Wealth Management/ Philanthropy

The business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs about 4,000 people in the consumer banking business.According to the sources, the valuation could be around USD 2 billion (about...

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