Axis Bank completed the acquisition of the Indian consumer banking arm of Citigroup for $1.6bn.

Axis Bank, an Indian banking and financial services company, completed the acquisition of the Indian consumer banking arm of Citigroup, a multinational investment bank and financial services corporation, for $1.6bn. "India remains a critical institutional market for Citi. In line with our broader strategic repositioning, we will continue to support our institutional clients in this core market and across APAC, delivering the full power of our global network to enable their growth," Peter Babej, Citi Asia Pacific CEO.