Citibank India

Citigroup Inc's Bhanu Vohra is exiting after nearly 25 years with the bank; the veteran banker most recently headed a team providing global banking solutions to mid-sized Indian companies

Fraser also expressed confidence that India will remain the world's fastest-growing economy

Balasubramanian, a seasoned banker, has worked in multiple markets, covering clients across major industries and geographies in India

Heads of India's leading foreign banks discuss the key to success on Indian turf in conversation with consulting editor Tamal Bandyopadhyay at the Business Standard BFSI Insight Summit

Former Citibank customers are now under the Axis Bank umbrella

The complete migration of all Citi relationships, including your credit cards, to Axis Bank, will wrap up by July 15, 2024

It is demeaning to compare what banks do and what technology companies do; banks build relationship of trust with customers and use technology as an enabler, says Ashu Khullar, CEO Citibank India

This potentially provides a cumulative period of 21 months of working from home for expecting and new mothers

This deal will have a 177 basis points bearing on Axis Bank's CET1 capital ratio

Bagree will report to Citi India's CEO Ashu Khullar and Citi's Asia Pacific head of markets, Julia Raiskin

In March 2022, Axis Bank said it would purchase Citi's retail business in a transaction worth Rs 12,235 crore

India's third-largest private lending is purchasing the retail business in a transaction worth Rs 12,235 crore

In this exclusive interview with Tamal Bandyopadhyay, Citi Asia Pacific CEO Peter Babej explains why his bank has chosen to sell its retail business in India and what it plans for the future

In a span of almost four years, Citibank has lost 600-basis points (bps) in spends market share.

If the customers agree to Axis managing their business, their accounts, credit cards and other business will change over, else the relationship will terminate and they can exit with their deposits

The Indian lender emerged as the buyer after beating out rivals, with factors such as job security for current Citigroup employees and competition.

From crypto concerns to policy normalisation, deposit insurance, Shaktikanta Das' reappointment as RBI governor and Citi's India exit, here are the key developments in for the financial sector in 2021

It's a strategic decision by Citigroup's new CEO, not a reflection on its India operations. Regulators' displeasure and investors' ire are behind it

Increased rivalry from domestic lenders, especially in consumer financing, and competition for top talent contribute to challenges.

Among its various business verticals, analysts say Citi's credit card business will be most sought after by suitors