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Axis Bank rises on getting nod to acquire Citibank’s consumer businesses in India

Axis Bank Ltd. | Bank - Private | BFSI | BSE: 532215 | NSE: AXISBANK

31 Mar 2022 Evaluate

Axis Bank is currently trading at Rs. 758.80, up by 8.60 points or 1.15% from its previous closing of Rs. 750.20 on the BSE.

The scrip opened at Rs. 763.90 and has touched a high and low of Rs. 763.90 and Rs. 751.40 respectively. So far 182028 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 866.60 on 25-Oct-2021 and a 52 week low of Rs. 626.40 on 12-Apr-2021.

Last one week high and low of the scrip stood at Rs. 765.80 and Rs. 715.20 respectively. The current market cap of the company is Rs. 230292.48 crore.

The promoters holding in the company stood at 9.71%, while Institutions and Non-Institutions held 77.65% and 12.64% respectively.

Axis Bank’s board has approved the acquisition of Citibank’s consumer businesses in India. The transaction comprises the sale of the consumer businesses of Citibank India, which includes credit cards, retail banking, wealth management and consumer loans. The deal also includes the sale of the consumer business of Citi’s non-banking financial company, Citicorp Finance (India), comprising the asset-backed financing business, which includes commercial vehicle and construction equipment loans, as well as the personal loans portfolio.

Axis Bank looks at this acquisition as a healthy strategic fit. It will gain access to the large and affluent customer franchise of Citibank having a bouquet of fee-oriented and profitable segments, that include quality credit card portfolio, affluent wealth management clientele, meaningful deposits with 81% being CASA, along with a strong consumer lending portfolio. Post the acquisition, Axis Bank will have 28.5 mn Savings Accounts, 2.3 lakh+ Burgundy customers and 10.6 mn Cards.

The acquired portfolio would increase Axis Bank’s credit card customer base by 31% with an additional 2.5 million cards, which will in turn bolster the Cards balance sheet position to be amongst the top 3 players in the Indian market. Moreover, the wealth and private banking portfolio will add great value to the Axis Burgundy business, further accelerating its growth ambitions in that segment. On an overall basis, the proposed transaction will add 7% to the Bank’s deposit base (with 12% increase in CASA) and 4% increase in advances.

Axis Bank is the third largest private sector bank in India. The bank offers the entire spectrum of services to customer segments covering Large and Mid-Corporates, SME, Agriculture and Retail Businesses.

Axis Bank Share Price

1358.35 -0.80 (-0.06%)

20-Apr-2026 12:57 View Price Chart

Peers

Company Name	CMP
HDFC Bank	801.40
ICICI Bank	1361.20
Axis Bank	1358.35
Kotak Mahindra Bank	380.95
Indusind Bank	855.70
View more..

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Axis Bank rises on getting nod to acquire Citibank’s consumer businesses in India

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