In 2021, Citi Chief Executive Jane Fraser announced plans to exit its consumer businesses in 13 Asian and EMEA markets as part of a turnaround strategy.
The deal is expected to increase Axis Bank's deposit base and loan book by 7% and 4%, respectively, and expand its credit card customer base by 31%.They have risen about 15% since the deal was announced last year, compared with a 13% rise in the Nifty Private Bank indexAxis Bank will hold a press conference on the deal after the market closes on Wednesday. Our Standards:
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India's market regulator bars 21 entities in Axis mutual fund front-running caseIndia's market regulator on Tuesday issued interim orders in a case of alleged front-running at Axis Mutual Fund, while issuing show cause orders to a former mutual fund executive and related entities.
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U.S. stocks face earnings pressure as ‘burgeoning cracks’ threaten profit margins, warns CitiU.S. stocks face pressure from the emerging risk of deterioration in companies’ profit margins, according to research from Citigroup.
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