Axis Bank acquires Citi India’s retail assets for $1.6 billion

Axis will pay to Citi cash consideration of approximately $1.6 billion for the acquisition of the consumer business, subject to customary closing adjustments. The transaction comprises the sale of the consumer banking businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans.

from Banking/Finance-Industry-Economic Times https://ift.tt/XIeToEC