Managers of Wealth Asia Pacific

Citi Nears Deal For Mainland China Consumer Unit

Last week, Citi agreed to sell its consumer banking business in Indonesia, Malaysia, Thailand and Vietnam to UOB for about $3.6 billion.

DBS to Buy Citigroup Taiwan Assets

A Taiwanese acquisition would add to DBS Chief Executive Officer Piyush Gupta’s deals over the last 15 months.

Axis Bank closing in on Citi India's consumer business

Its Indian consumer banking business comprises credit cards, home loans and retail banking.

Singapore Tycoon Wee Cho Yaw’s UOB To Buy Citi’s Southeast Asia Consumer Business For $3.6 Billion

The purchase consideration is about S$4.9 billion ($3.6 billion), which includes a premium of S$915 million on top of the business’ aggregate net asset value of S$4 billion as of June last year.

Sumitomo Mitsui to weigh more acquisition targets in Asia

Mr Ohta is also interested in American retail banking and said he may consider entering online lending in the US as a way to secure a position in that market.

Citi Announces Agreement to Sell Philippines Consumer Bank to UnionBank of the Philippines

Citi Continues to Execute on Global Consumer Bank Strategic Actions

Axis Bank outbids Kotak Bank, IndusInd for Citi's India retail business, card operations

As part of CitigAxis Bank has reportedly emerged as the frontrunner to acquire the retail and credit card assets of Citi India, outbidding Kotak Mahindra Bank and IndusInd Bank. Earlier, Kotak Mahindra, Axis Bank and IndusInd Bank had made binding offers

ANZ helps small businesses invest for growth

ANZ today welcomed the Federal Government’s extension of the expanded Small to Medium Enterprise Recovery Loan Scheme.

WeLab Acquires Indonesian Commercial Bank

Welab Sky has already completed a strategic investment for a 24 percent stake in BJJ.

Citi: Preferred Bidders Selected for Asia Consumer Assets

For its China consumer banking assets, Taiwan’s Fubon Financial Holding is the buyer of choice in a deal that could raise about $100 to $200 million.

Kotak Mahindra, Axis Bank emerge as top contenders to acquire Citi India retail business

Compared to Axis Bank, Kotak is more keen on bagging the Citi business. Kotak’s retail book is a little less than Rs 1 lakh crore, while that of Citi is nearly Rs 68,000 crore, of which retail loans account for Rs 28,000 crore.

CIMB Group on the mend despite 3Q loss

The recovery in performance was driven by higher operating income, strong cost containment and significantly lower provisions, with improvements seen across all segments and markets.

ACCC not opposed to NAB, Citi deal

"Credit cards continue to be an important product for consumers, despite increasing use of other unsecured lending products such as Buy Now, Pay Later,"

HSBC Rolls Out New Vaccine Rules in Hong Kong

The city’s top officials announced a continued focus on maintaining its zero-Covid policy while prioritizing border opening with mainland China.

OCBC Profits Climb Higher on Lower Allowances

OCBC’s posted a robust profit increase in the third quarter, which was fueled by a significant reduction in allowances.

Westpac sees reduced uncertainty for remediation programs

During 2H21 there was an $18 million reduction to net wealth management and insurance income for additional provisions for aligned dealer group advice remediation.

CBA partners with gift card disrupter Karta

Commonwealth Bank announces new strategic partnership to offer consumers and businesses new online choices in the $29 billion Australian prepaid card industry.

ANZ 2021 Full Year Result & Proposed Final Dividend

Australia Retail & Commercial grew lending and customer deposits during the year and delivered good margin performance across the division.

Citi to shut Korea's retail banking without sell-off

"We will keep a close watch on this issue in terms of protecting financial consumers and maintaining financial order,"

DBS, StanChart Plan to Bid for Citigroup Asia Retail Units

Under Chief Executive Officer Jane Fraser, the bank is exiting 13 markets across Asia and Europe, the Middle East and Africa. Its Australia business was sold to National Australia Bank Ltd. in August.

Retail Banking