Citi sells consumer banking to UnionBank

By Anna Leah E. Gonzales

Dec 24, 2021 12:12 am

CITI on Thursday announced that it has reached agreement with UnionBank of the Philippines on the acquisition of its consumer banking franchise in the Philippines.

In a statement, Citi said the transaction covers Citi's local credit card, unsecured lending, deposit and investment businesses, as well as Citicorp Financial Services and Insurance Brokerage Philippines Inc., which provides insurance and investment products and services to retail customers.

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