Axis Bank to acquire Citi India’s retail assets for $2 billion

Axis Bank to acquire Citi India’s retail assets for $2 billion

Axis Bank to acquire Citi India’s retail assets for $2 billionMar 30, 2022, 10:54 AM IST

Axis Bank is the fourth-largest issuer of credit cards with a total base of 8.6 million cards. Its retail book is nearly Rs 4 lakh crore. On the other hand, Kotak has a card base of 3 million. Citi’s retail book is nearly Rs 68,000 crore, of which retail loans account for Rs 28,000 crore.

IL&FS resolution under Kotak completes Rs 61,000 crore of Rs 99,355 crore debtMar 30, 2022, 10:34 AM IST

Of the total 347 entities, 248 have been resolved, Kotak said, adding, the group had over 100 entities overseas and of the remaining 101 entities some are defunct and only the government can take a call on them.

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