Axis Bank s position in the cards business improved from 11.4 percent to 16.2 percent after this acquisition. It gets ready access to highly affluent wealth customers of Citi for Burgundy Private Banking.
Axis Bank, one of India's largest private sector banks, has completed the acquisition of Citibank's consumer business in an accelerated time frame of within 7 months post receipt of the CCI approval.The deal has been closed with Axis Bank .