Axis Bank-Citibank deal to be completed by March 1
On March 1, 2020, Axis Bank and Citibank are set to complete their deal, which will create one of the largest private sector banking networks in India. The deal, which was first announced in October 2019, will see Axis Bank acquire Citibank’s retail banking business in India.
The deal is expected to be completed on March 1, and will see Axis Bank acquire Citibank’s retail banking business in India, including its credit cards, consumer banking, and wealth management operations. The deal is expected to be worth around $2.2 billion.
The deal will create one of the largest private sector banking networks in India, with Axis Bank now having access to Citibank’s customer base of over 5 million. The deal is expected to be a major boost to Axis Bank’s operations in India, allowing it to offer a wider range of products and services to its customers.
Axis Bank will also benefit from the increased scale of its operations, which will help it to compete more effectively with its larger rivals in the Indian banking sector. The deal will also help Axis Bank to expand its presence in key markets such as Mumbai, Delhi, and Bangalore.
The deal will be a major milestone for Axis Bank, which has been looking to strengthen its presence in India for some time. The acquisition of Citibank’s retail banking business will be a major boost to the bank’s operations in the country.
The deal is expected to be completed by March 1, and will create one of the largest private sector banking networks in India. The deal will be a major boost to Axis Bank’s operations in India, allowing it to offer a wider range of products and services to its customers. It will also help Axis Bank to expand its presence in key markets such as Mumbai, Delhi, and Bangalore.
