UOB completes Citigroup Acquisitions in Msia and Thai
UOB has finalised its purchase of Citigroup’s consumer banking operations in Malaysia and Thailand!
According to UOB, Citigroup’s consumer banking operation in Malaysia and Thailand has been bought. Citigroup’s consumer banking acquisitions in Indonesia and Vietnam are expected to be completed by UOB in 2023.
UOB stated that it will continue to focus on ensuring the smooth transition of Citigroup’s operations, with full system integration anticipated within the next 12 to 18 months. Citigroup’s consumer banking portfolio includes unsecured and secured loans, wealth management, and retail deposits.
In other words, while the current Citi business in Malaysia has been transferred to UOB, the Citi business will continue to provide technical assistance until all businesses have been successfully migrated.
If you have a Citibank account or a Citi credit card, you can keep using your account and credit card as usual, and your benefits will be maintained until further notice.
