SINGAPORE - Citigroup has agreed to sell its consumer business in four Southeast Asian markets to United Overseas Bank (UOB) for about S$5 billion, bringing the US bank closer to its goal of exiting retail operations in 13 markets. The proposed acquisition by Singapore's UOB will be its biggest in two decades and double its retail customer base in the.
Citigroup has agreed to sell its consumer business in four South-East Asian markets to United Overseas Bank (UOB) for about S$5 billion ($3.7 billion), bringing the US bank closer to its goal of exiting retail operations in 13 markets.
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