![]() Consumer banking consists of retail banking, consumer loans, and retail services. ICG includes the securities market, banking for high-net-worth clients, corporate, institutions, and the public sector. The bank’s exit from its consumer franchises is likely to result in the release of approximately US$7 billion of allocated tangible common equity after deals in all these 13 markets are finalized and regulatory obligations completed.Ĭitibank categorizes its revenue into two major segments: International Clients Group (ICG) and Global Consumer Banking. In order to bring about this strategic change in its banking business, Citibank would close its consumer banking operations in 13 markets across Asia, Europe, and the Middle East. However, in 2017, Citibank announced that it would invest its resources in sectors that offer high returns such as wealth management and sell off their moderately performing sectors. The US banking group offers services such as wealth management business, commercial banking business, treasury and trade solutions, and securities services. ![]() Axis Bank will acquire Citibank’s consumer business for $1.6 billion and following the completion of the deal, Citi expects the release of approximately $800 million of allocated tangible equity. On March 20, 2022, Axis Bank entered into an agreement with Citibank to acquire Citibank’s consumer businesses, which cover credit cards, loans, retail banking, and wealth management operations in India. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |