Citi asset sale

Citi completes sale of Philippine consumer business to UnionBank

The sale includes the transfer of 1,540 staff to the Philippine bank.

Citi completes sale of Philippine consumer business to UnionBank

The sale includes the transfer of 1,540 staff to the Philippine bank.

Axis Bank’s Citi purchase to improve profits long-term: S&P

Positive effects will only be felt starting fiscal year 2025 and onwards.

Axis Bank to buy Citi’s Indian consumer business for $1.6b

Axis Bank expects to gain more or less 3 million customers.

Fintech Validus buys Citi’s CitiBusiness loan portfolio in Singapore

It’s the first fintech in SEA to acquire an established bank’s loan portfolio.

DBS acquires Citi’s Taiwan consumer banking business

DBS will pay Citi in cash for the net assets plus a premium of S$956m.

Union Bank’s capital buffers to weaken following Citi purchase: analyst

Any potential earnings boost remain uncertain; whilst reduced capital will take years to rebuild.

UOB’s purchase of Citi ASEAN retail assets improves profits, accelerates expansion

It is expected to add S$1b in profits annually, with earnings accretive beginning 2023.

UOB buys Citi’s retail businesses in 4 SEA markets for US$3.65b

UOB is paying for the net asset value plus a premium of US$690m.

UnionBank to buy Citi’s Philippine consumer banking franchise for $908m

Around 1,750 Citi employees are expected to transfer to UnionBank.

UnionBank in talks to take over Citi’s consumer banking assets in the Philippines

Discussions between the two banks are at the preliminary stage.

NAB buys Citi’s Australian consumer business for $882m

Citi Australia’s senior management and about 800 employees are expected to join NAB.