{"id":32529,"date":"2022-03-30T17:36:00","date_gmt":"2022-03-30T12:06:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/biz-axis-ld-citi\/"},"modified":"2022-03-30T17:36:00","modified_gmt":"2022-03-30T12:06:00","slug":"biz-axis-ld-citi","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/biz-axis-ld-citi\/","title":{"rendered":"Axis Bank laps up Citigroup&#8217;s India business for Rs 12,325 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-297809955\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>New Delhi, Mar 30 (PTI) Axis Bank on Wednesday announced the acquisition of Citigroup&#8217;s India consumer banking business, including credit card, retail banking, consumer loan and wealth management, for Rs 12,325 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2145526762\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>Axis Bank will acquire about 30 lakh customers of Citibank India and grow its credit card portfolio by 31 per cent.<\/p>\n<p>The deal will give it access to 7 offices, 21 branches and 499 ATMs across 18 cities; and approximately 3,600 in-scope consumer employees of Citibank will be absorbed in Axis Bank, the private sector lender said in a statement.<\/p>\n<p>In April 2021, American banking major Citigroup announced its plan to exit from the consumer banking business in India as part of its global strategy.<\/p><div class=\"trade-content_5\" id=\"trade-1522669245\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>The business comprises credit cards, retail banking, home loans and wealth management. The bank has 35 branches in the country and employs about 4,000 people in the consumer banking business.<\/p>\n<p>Citigroup had entered India in 1902 and started the consumer banking business in 1985.<\/p>\n<p>Apart from the institutional banking business, Citigroup in India will continue to focus on offshoring or global business support rendered from centres in Mumbai, Pune, Bengaluru, Chennai and Gurugram. PTI DP ANZ  DP BAL BAL<\/p>\n<div class=\"trade-after-content\" id=\"trade-767116343\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>New Delhi, Mar 30 (PTI) Axis Bank on Wednesday announced the acquisition of Citigroup&#8217;s India consumer banking business, including credit card, retail banking, consumer loan and wealth management, for Rs 12,325 crore. Axis Bank will acquire about 30 lakh customers of Citibank India and grow its credit card portfolio by 31 per cent. The deal [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-32529","post","type-post","status-publish","format-standard","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Axis Bank laps up Citigroup&#039;s India business for Rs 12,325 cr - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/biz-axis-ld-citi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Axis Bank laps up Citigroup&#039;s India business for Rs 12,325 cr\" \/>\n<meta property=\"og:description\" content=\"New Delhi, Mar 30 (PTI) Axis Bank on Wednesday announced the acquisition of Citigroup&#8217;s India consumer banking business, including credit card, retail banking, consumer loan and wealth management, for Rs 12,325 crore. 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