Axis Bank has completed the acquisition of Citigroup's India consumer business from Citibank N.A. and NBFC consumer business from Citicorp Finance (India) as going concerns. The bank becomes the owner of Citibank’s India Consumer Business and NBFC Consumer Business effective from March 1, 2023 subject to and in accordance with the requirements and terms of the agreed contractual documentation and settlement of consideration. The deal is valued at Rs 11,603 crore.
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.
