Citigroup agrees to sell its consumer banking business in India to Axis Bank for $1.6 billion
Citigroup has agreed to sell its consumer banking business in India to Axis Bank for $1.6 billion, the latest step in Chief Executive Officer Jane Fraser`s push to simplify the bank.
The sale follows a months-long auction process and includes a credit-card business with around 2.6 million cardholder. Pic: Reuters