Citi Announces Agreement to Sell Australian Consumer Banking Business to National Australia Bank

Sydney – Citi today announced it has reached an agreement with National Australia Bank Limited (hereafter “NAB”) for the acquisition of Citi’s consumer bank in Australia. Citi’s Australian Consumer Bank, which includes residential mortgages (c.A$7.9bn), deposits (c.A$9.0bn) and unsecured lending (c.A$4.3bn) will be transferred to NAB, together with approximately 800 Citi employees upon close of the transaction.

close

Get every new post delivered right to your inbox.

Original Source