, India
Photo by Miquel Parera via Unsplash.

Citi completes sale of India consumer business to Axis Bank

Approximately 3,200 Citi employees have been transferred.

Citi has completed the sale of its India consumer business to Axis Bank.

The sale, first announced in March 2022, includes Citi’s credit cards, retail banking, wealth management, and consumer loans. Citi's institutional client businesses in India are excluded from the sale.

Approximately 3,200 Citi employees have also been transferred under the deal.

The transaction is expected to result in a regulatory capital benefit of US$1.4b, Citi said in a press release.

Citi has also completed the sale of its retail banking and consumer card business in Vietnam to UOB Group.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!