Singapore banks may bid for parts of Citi's Asia consumer business as giant makes exits
EYES are now on whether Singapore banks will snap up Citi's assets in markets that the local trio already play in, as the Wall Street giant sheds several of its consumer banking businesses across Asia.
Reuters on Tuesday reported that banks including DBS Group, Mitsubishi UFJ Financial Group (MUFG), OCBC and Standard Chartered are set to bid for parts of Citigroup's consumer business in Asia. The report cited people with direct knowledge of the matter.
When asked by The Business Times, OCBC declined comment.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
China’s AgBank Q1 profit falls 1.63% as loan margins shrink
Financial Times, OpenAI sign content licensing partnership
Blackstone beats Concord with US$1.6 billion bid for Hipgnosis Songs
China State Shipbuilding to build 18 LNG ships for QatarEnergy
Philips pays US$1.1 billion in US settlement over ventilator recall
Tesla clears key regulatory hurdles for self-driving in China during Musk’s visit