Market Updates
Citigroup to Sell India Retail Operations for $1.6 Billion
Arthi Gupta
30 Mar, 2022
New York City
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Citigroup agreed to sell its retail banking, wealth management unit, credit card business, and back office operations for $1.6 billion. The lender will continue its institutional business as a part of plan to exit from 13 countries announced previously. Axis Bank will acquire 3 million new customers, 21 branches, and 3,600 employees in a deal that is expected to close in a year.
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