KUALA LUMPUR: United Overseas Bank Ltd (UOB) expects its acquisition of Citigroup’s consumer banking businesses will immediately bring a 1.4 times uplift to income, said UOB group chief financial officer (GCFO) Lee Wai Fai.
KUALA LUMPUR: United Overseas Bank Limited (UOB)’s subsidiaries have entered into agreements to acquire Citigroup’s consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam.
Citigroup Inc agreed to sell consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank (UOB) Ltd for about S$4.9 billion (US$3.6 billion), as Chief Executive Officer Jane Fraser continues her push to simplify the New York-based bank.
Citigroup Inc agreed to sell consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam to United Overseas Bank (UOB) Ltd for about S$4.9 billion (US$3.6 billion), as Chief Executive Officer Jane Fraser continues her push to simplify the New York-based bank.