NAB in Talks to Buy Citi’s Australia Consumer Unit
By Mei Ling Tan
1 min read
The National Bank of Australia is the latest to join the hunt for Citi’s retail assets after it announced plans for a major consumer downsizing earlier this year.
NAB is in talks to potentially but Citi’s consumer business in Australia, according to an exchange filing.
Discussions are ongoing and no deal has been concluded.
Numerous banks are eyeing opportunities to purchase consumer businesses from Citi’s 13-market exit.
In Australia, NAB joins the likes of ANZ, ING Bank, Macquarie, Bank of Queensland and local insurer Suncorp. which have also reportedly expressed interest.