WOW, THIS IS BIG NEWS! I was a Citibank customer for several decades and I am currently a Unionbank depositor. So this is big news for me as I never saw this coming. Citigroup is selling its entire consumer banking business to Unionbank of the Philippines.
What does this acquisition by Unionbank include?
This includes Citi’s credit card, personal loans, wealth management, and retail deposit businesses. The acquisition also includes Citi’s real estate interests in relation to Citibank Square in Eastwood, 3 full-service bank branches, 5 wealth centers, and 2 bank branch lites.
Continue reading “Unionbank takes over Citi’s consumer banking business in the Philippines”