In a first, 13 Citi-Axis branches to co-locate till merger transition

Clear signage to represent each banks' space; Citi to retain 14 branches

In a first of its kind arrangement between two lenders, Citi and Axis Bank have agreed to co-locate or share 13 branches to ensure smooth transition of the business of the US bank to India's domestic lender.

Axis Bank, the country’s third-largest private sector lender, has acquired the consumer businesses of Citibank India and its non-banking finance arm, Citicorp Finance (India) Ltd, for Rs 11,603 crore.

On March 1, Axis Bank said that it had gained access to 21 of the Citi branches.

Now, there will be an 18-month integration period during which Citi customers will be migrated to Axis’