Citi asset sale
Citi completes sale of Indonesia consumer business to UOB
This marks Citi’s ninth and final full consumer divestiture in Asia.
Citi completes sale of Indonesia consumer business to UOB
This marks Citi’s ninth and final full consumer divestiture in Asia.
DBS's Sanjoy Sen explores digital currency, future M&A opportunities
Sen also discussed DBS’ recent integration of Citi Taiwan’s assets in just one weekend.
DBS completes integration of Citi Taiwan consumer business
Almost 3,000 Citi employees are now part of DBS Taiwan.
Citi completes sale of Vietnam retail banking, credit card units to UOB
This includes the turnover of approximately 575 related staff.
Weekly Global News Wrap: Grupo Mexico clinches $5b to buy Citi assets; Brazilian banks may set aside $890m for Americanas losses
And the UK lays out plans to regulate cryptocurrency.
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.
Weekly Global News Wrap: Morgan Stanley’s top performers get 20% bonus raise; Credit Suisse files insurance claims worth $1.17b
And Mexico alert on antitrust implications for local Citi consumer franchise asset sale.
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.
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1. Zed challenges banking norms with no interest, forward-looking credit card 2. HK-based fintech KPay expands operations to Singapore 3. Citi names Amit Dhawan as head of CCB Singapore 4. StanChart joins Visa’s B2B Connect to enhance cross-border payments 5. Hang Seng Bank warns against phishing emailAwards
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