Page 2 - Citibank

Axis Bank to grow up to 6% faster than industry in medium to long term: CEO

Axis Bank on Monday said it will continue to grow 4-6 per cent faster than the industry in the medium to long term, helped by focus on rural and semi-urban markets, improving digital infrastructure and Citibank India retail business. Fiscal year 2023 was a breakout year for digital banking platform Axis 2.0 and the early leadership in building proprietary in-house digital native capabilities with full stack engineering, product and a design team of about 400 people have started yielding results, according to Axis Bank Managing Director and CEO Amitabh Chaudhry. "Given the powerful integrated platform we are building, we will continue to grow 400 to 600 bps faster than the industry in the medium to long term. "The significant strides we made during the year on our customer obsession journey, digital capabilities, Bharat Banking and successful acquisition of Citibank India Consumer Business further give us the confidence in sustaining this performance," he said in a message to ...

Citigroup plans to debut new credit card for use with multiple retailers

It puts customers in control of how they want to finance purchases, Kartik Mani, chief executive officer of the bank's retail-services division, said in an interview

Axis Bank has adequate capital to absorb quarterly loss, says S&P report

Bank's ability to pay dividends is protected, net credit costs have declined: Ratings agency

Deepak Bagla resigns as managing director and CEO of Invest India

Bagla was at the helm of Invest India since 2015. Earlier, he had stints at World Bank, Citibank, and private equity firm 3i Group

Citibank upgrade lifts metal stocks; Nalco and SAIL shares gain

The BSE Metal Index rallied 1.5 per cent, outperforming the benchmark Sensex which rose 1.41 per cent

Citi deal may be complete in May: Axis Bank MD & CEO Amitabh Chaudhry

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

IndusInd Bank re-appoints Sumant Kathpalia as MD & CEO for 3 years

Prior to joining IndusInd Bank, Kathpalia had stints with Citibank, Bank of America and ABN Amro

Unity Small Finance Bank appoints Inderjit Camotra as MD and CEO

Unity Small Finance Bank is a new age, digital first bank which was recently elevated to a 'Scheduled Bank' and was included in the Second Schedule of the RBI Act.

Tata Tech plans IPO by fiscal-end, the first by Tata group in 18 years

The company is in talks with several banks, including Citibank, to manage the share sale; The last share sale by a Tata firm was in 2004, when TCS floated an IPO

Mittals looking to raise $2 bn to buy portion of Singtel stake in Airtel

As per a media report, Mittals are in talks with some major banks like BNP Paribas, Bank of America, Citibank, JPMorgan, and Standard Chartered to raise over $2 billion

Cash shifts pull rug under global equity markets, say strategists

World stocks recorded their worst quarter this year since the coronavirus pandemic unleashed havoc in March 2020, while US stocks are down nearly 12% from its peak earlier this year

Profits of four big banks decline as deal-making, mortgages slacken

The results from Citigroup, Goldman Sachs, Morgan Stanley and Wells Fargo were similar to the results out of JPMorgan Chase, which on Wednesday reported a double-digit decline in profits

How Axis Bank gains from Citibank: It's about quality of customers

The quality of customers it acquires holds the key to success but the benefits of the buyout could kick in only from FY25

We're doubling down investment in institutional biz: Citi Asia-Pacific CEO

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

Best of BS Opinion: Shifting Citi, opening up procurement, and more

Here are the best of BS Opinion pieces of the day

Shifting Citi

India has been a difficult market for foreign banks

L&T appoints former Citibank India head Pramit Jhaveri as director

Larsen & Toubro Limited (L&T) has appointed former Chief Executive Officer of Citibank India Pramit Jhaveri as independent director. The board also approved the appointment of Jhaveri as an independent director of the company for a period of five years with effect from April 1, 2022, L&T said in a statement. He is also senior advisor to Premji Invest and PJT Partners and an independent director on the board of Bajaj Finance Limited. Prior to his current activities, he was Vice Chairman - Banking, Asia Pacific Citi. He served as Chief Executive Officer of Citibank India from 2010 to 2019.

Citi's Asia Pacific arm to hire 350 people in 3 years to accelerate growth

The Asia Pacific hiring represents the largest investment in headcount across CCB globally, the foreign lender said

Mexico studies antitrust implications of Citi sale, expects bidder interest

Ministry says the departure from Mexico of the country's no. 3 consumer bank 'raises delicate matters for the finance and regulatory authorities'.

Citigroup to split Institutional Clients Group's operations, tech functions

Citigroup Inc is planning to split the operations and technology functions of its unit, Institutional Clients Group