UnionBank buys Citi's consumer business in Philippines

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

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

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