News Formal

Citi to sell India consumer business to Axis Bank for $1.6 bln

  • 📰 Reuters
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

Citigroup has agreed to sell its consumer banking business in India to Axis Bank for $1.6 billion, the latest step in Chief Executive Officer Jane Fraser's push to simplify the bank.

for $1.6 billion, the latest step in Chief Executive Officer Jane Fraser's push to simplify the bank.

It is part of Citi CEO Jane Fraser's plan to revamp the bank by exiting retail banking operations in 13 countries and focusing on its more lucrative institutional and wealth management businesses.The sale excludes Citi's institutional client businesses in India.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

FossilFuels are killing us. ClimateActionNow Renewable energy

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sea e-commerce unit Shopee to shut India operationsE-commerce and gaming firm Sea Ltd said on Monday it is withdrawing from India's retail market just months after starting operations there, the second pullback this month in an overseas expansion drive, as the loss-making firm faces a weak growth outlook.
Source: Reuters - 🏆 2. / 97 Read more »