Axis Bank acquires Citibank India

Category : Business and economics Published on: April 01 2022

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Private sector lender Axis Bank acquired Citigroup's retail banking business in India for Rs 12,325 crore.
This acquisition will increase Axis Bank's card balance sheet by 57% with an additional ~2.5 million Citibank cards, making it one of the top 3 card businesses in the country.
Now Citibank customers will benefit from Axis Bank's enhanced scale, large geographic reach and breadth of products and offerings.

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