Your question: Who is taking over Citibank India?

What will happen to my Citibank India account?

There is no immediate change or impact to the existing account/relationship with Citi. We are committed to ensuring that customers continue to receive the best services, and we will continue to operate as usual. Consumer operations, including all branches, call centers and offices, continue to operate as they do today.

Who will takeover Citibank India?

A takeover of Citi’s India unit would be DBS’s largest acquisition since 2001, when the Singapore firm spent $5.4 billion buying the Hong Kong unit formerly known as Dao Heng Bank Group Ltd. Among the U.S. bank’s assets for sale, India stands out as “the crown jewel,” Kwek wrote.

Who is buying Citibank in India?

The first two are the most aggressive bidders and are the frontrunners. Three of the country’s leading private lenders – Kotak Mahindra Bank, Axis Bank and IndusInd Bank – have made binding offers to buy Citi’s consumer business in India, valued at about $2 billion, said people with knowledge of the matter.

Is Citibank India closing down?

“Citi is not closing down consumer business in India. However, the plan is to sell off this business. There won’t be any retrenchment or closure of offices. We will focus on the institutional business,” said an official of the bank.

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Is Citibank safe in India?

Yes, of course. They are quite safe. Thanks to strong regulation and supervision by Reserve Bank of India and system of internal control of banks, they are well capitalized, well managed and effectively regulated.

Are Citibank servers down? is UP and reachable by us.

Who will buy Citibank?

Amidst increasing bullishness about the credit card market, a handful of top domestic banks including HDFC Bank and Kotak Mahindra Bank are being seen as front runners to acquire Citi’s credit card division in India. According to sources, about 5-6 banks are in the fray to bid for Citi’s credit card business in India.

Which bank merged with Citibank?

The company was formed by the merger of banking giant Citicorp and financial conglomerate Travelers Group in 1998; Travelers was subsequently spun off from the company in 2002. Citigroup owns Citicorp, the holding company for Citibank, as well as several international subsidiaries.

Who bought Citibank?


Type Subsidiary of Citigroup
Headquarters New York, New York
Key people Barbara Desoer (Chairman) Jane Fraser (CEO)
Products Credit cards Mortgages Personal loans Commercial banking Lines of credit
Parent Citigroup

Which is top bank in India?

Top 10 Banks in India

  • HDFC Bank.
  • State Bank of India.
  • ICICI Bank.
  • Axis Bank.
  • Kotak Mahindra Bank.
  • IndusInd Bank.
  • Yes Bank.
  • Punjab National Bank.