Validus acquires Citi's small-business unit loan portfolio
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FINTECH Validus announced on Tuesday (Mar 22) that it has entered into an agreement with Citi Singapore to acquire its CitiBusiness loan portfolio, a unit that serves small businesses under its consumer banking franchise.
In a statement, Validus noted that this is the first time a South-east Asian fintech has acquired an established bank's loan portfolio and customer base. The deal value was undisclosed.
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