kmfkbaby.blogg.se - Citi more global than other american banks

“Deals like these come once in a lifetime,” Axis Bank chief executive Amitabh Chaudhry said.Ī pioneer in India’s credit cards space, Citi saw its outstanding credit cards decline from 26 lakh a year ago to 25 lakh by the end of February. The move will boost the Indian lender’s presence in the retail segment. On March 30, Axis Bank announced the $1.6-billion (Rs 12,325-crore) deal to acquire Citibank’s arm, which includes the “credit card business, the wealth franchise and a set of affluent customers”. The move follows the American banking giant’s exit from the country as part of a global strategy. Mumbai-based Axis Bank is set to acquire Citigroup’s consumer business.

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