India’s third-largest private lender Axis Bank on Wednesday completed the acquisition of Citigroup’s India consumer business from Citibank N.A. and NBFC consumer business from Citicorp Finance (India) Ltd.
Valued at ₹11,603 crore, the deal includes Citibank’s lucrative credit card customer base, retail banking, loans, and wealth management services.
Announced in March 2022, the transaction is now complete, three months ahead of Citibank’s expectations. As part of the deal, approximately 3,200 Citibank employees will also be absorbed by Axis Bank
