Axis Bank to buy Citibank’s India biz for ₹12,325 cr
- Axis Bank to absorb 3,600 Citibank employees in deal that may close in a year
- The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance
MUMBAI : Axis Bank Ltd on Wednesday agreed to buy Citibank’s consumer business in India for ₹12,325 crore ($1.6 billion) in cash, a move that will boost the Indian lender’s presence in the retail segment.
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