InvestorQ : Is HDFC Bank planning to make a bid for the Citibank consumer business?
Arya Nanda made post

Is HDFC Bank planning to make a bid for the Citibank consumer business?

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Anjana Aiyar answered.
2 months ago
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While there is no official confirmation, it has been reported that HDFC Bank is in the fray for the Indian consumer assets of Citibank, after the global bank decided to exit the India consumer business to focus on the institutional business. Apart from HDFC Bank, others like ICICI Bank, IDFC Bank and SBI Cards are also reported to be in the fray.

Citibank has 3 million customers in India, low provisioning and low NPA levels, which makes it pretty attractive. For a multi-faceted bank like HDFC Bank, it gives the opportunity to cross sell products on its platform. Citibank has already announced its decision to exit consumer banking in 13 Asian and European markets including India.

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