Business News›ET NOW›Daily›Axis Bank acquires Citi India’s consumer business in a Rs 12,325 crore deal
Axis Bank acquires Citi India’s consumer business in a Rs 12,325 crore deal
Indian private lender Axis Bank is buying Citigroup Inc's local consumer banking arm for $1.6 billion in its biggest deal to beef its credit card business. The sale by Citi is part of Chief Executive Jane Fraser's push to overhaul its business by exiting retail banking operations in 13 countries where it does not have the necessary scale to compete.
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