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CEO Jane Fraser said that the group lacks the scale to compete with the domestic lenders in India, even though…
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Axis Bank’s management has said that the transaction with Citi incorporates appropriate clawback arrangements. The bank has factored in a…
Citi India has the highest spend per credit card, which will help Axis Bank garner a higher fee income.
At the NSE, it gained 1.67 per cent to Rs 763.Axis Bank on Wednesday said it will acquire US-based Citi’s…
Analysts are bullish on Axis’s stock and said the deal provides the lender an instant access to affluent customer segments.…
After growing organically, Axis Bank has acquired the consumer business of Citibank. The senior management of Axis Bank broke the…
The deal, which will give Axis Bank access to three million new customers, is likely to be closed over the…
Citi said the deal includes its NBFC’s consumer business, comprising commercial vehicle and construction equipment loans, as well as the…
The deal was earlier understood to be worth around $2 billion, but the final value could be lower, sources close…
Axis Bank is understood to be the frontrunner to take over the US lender’s retail business in India.
Citi has been consistently losing credit card customers since the global bank expressed its intention to exit the retail business.
Other financiers which offered support included Citi’s peer from the US Wells Fargo (USD 3 million), Swiss bank UBS (USD…