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Monday, August 15, 2022

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CITIBANK NEWS

Competition Comm clears Axis Bank-Citi deal

July 26, 2022 8:29 pm

In March, Axis Bank and Citi had signed a definitive agreement for the deal, which is expected to be completed by September 2024 and would help Axis Bank gain access to 30 lakh new customers.

US ‘must be alarmed’ by foreign companies exiting India: Hudson directors

July 18, 2022 6:49 am

Notably, while some of these companies have either cited poor competitive position or global business strategies, others have had long-running tiffs with law enforcement and tax authorities.

Axis Bank shares rise nearly 2% after Citi's India consumer business deal

March 31, 2022 12:49 pm

The stock jumped 1.82 per cent to Rs 763.90 on the BSE. At the NSE, it gained 1.67 per cent to Rs 763.

Axis Bank acquires Citibank’s India consumer business for Rs 12,325 crore

March 31, 2022 12:17 am

The deal also includes the sale of Citicorp Finance (India) Ltd, comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans as well as the personal loans portfolio.

Axis to get Citi’s 1.2 million retail customers

March 31, 2022 12:13 am

On an overall basis, the proposed transaction will add 7 per cent to the bank’s deposit base (with 12 per cent increase in CASA) and 4 per cent increase in advances.

Axis Bank to acquire Citi's India consumer business for $1.6 billion

March 30, 2022 4:34 pm

Axis Bank will acquire the consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.

Axis Bank set to buy Citi's India consumer business; deal to be announced soon

March 30, 2022 1:32 pm

In April 2021, American banking major Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy.

Explained: Why is CitiBank selling its India business, and what next for bank account holders?

April 22, 2021 9:14 am

Even as it has decided to sell off the retail accounts and credit cards business, the bank has indicated that there won’t be any layoffs or closure of offices in India.

Citibank gets in-principle nod to set up IFSC unit at GIFT City

September 14, 2020 5:49 pm

Fourteen banks have set up their IBUs in GIFT IFSC, making the cumulative business in banking vertical cross USD 28 billion.

Citigroup cites $900 million human error; lenders are puzzled

August 26, 2020 11:56 am

Citigroup has sued roughly a dozen firms seeking to recover the funds and secured court orders last week freezing an amount totaling more than half of what was accidentally sent pending the results of its lawsuits.

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