UOB to acquire Citigroup consumer business in Malaysia, Indonesia, Thailand, Vietnam

UOB says the acquisition of Citigroup’s consumer banking business in Malaysia, Indonesia, Thailand and Vietnam is expected to be completed between mid-2022 and early 2024. – EPA pic, January 14, 2022.

UNITED Overseas Bank Ltd’s (UOB) subsidiaries have signed agreements to acquire Citigroup’s consumer banking business, comprising its unsecured and secured lending portfolios, wealth management and retail deposit business, in Malaysia, Indonesia, Thailand and Vietnam.

As part of the proposed acquisition, UOB intends to bring onboard the staff in the consumer business.

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