Unionbank to acquire Citi's Philippine consumer banking business

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MANILA : Unionbank of the Philippines said on Thursday it will acquire the consumer banking business of Citigroup Inc in the Southeast Asian nation, as part of a bid to boost growth in its retail banking sector.Unionbank will pay cash for the net assets of the Citi Philippines' consumer banking business p

MANILA : Unionbank of the Philippines said on Thursday it will acquire the consumer banking business of Citigroup Inc in the Southeast Asian nation, as part of a bid to boost growth in its retail banking sector.

The deal includes Citi's credit card, personal loans, wealth management, and retail deposit businesses, and real estate assets.

 

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