This business of Citi Bank has been sold, what will be the effect on the customers | Jagran Business- Watch Video

In 1902, Citibank opened a branch in Kolkata to start business in India. Let us inform you that Citibank just took down its signboard from its iconic Kanak Building headquarters on Chowringhee Road in Kolkata. At this location, Citibank initially began operations. Beginning on March 1, Axis Bank has taken over management of Citibank's home and personal loans, credit card, and insurance divisions.

What will be the effect of the deal on Axis Bank?

Citibank has around 3 million customers in India. With this deal, the balance sheet of Axis Bank will also increase by about 57 per cent. In 2021, Citibank had decided to exit the retail business in 13 countries including India. Citibank in India is doing business in retail sector since 1985. Its 35 branches are present across the country, in which about 4 thousand employees work.