Friday is the deadline for final bids for Citi’s consumer banking assets in many Asian markets, a key part of chief executive Jane Fraser’s strategy to raise funds to be deployed in institutional and wealth businesses.
Binding bids in Indonesia, the Philippines, Thailand, Malaysia, China, India, South Korea and Taiwan, among others, are due today; the sale of the Australia business to National Australia Bank was confirmed in August.
Here’s what’s at stake, and what we know so far.
Who is in the running?
Euromoney understands that across the 13 markets on the block, around 50 potential buyers showed genuine interest, including both local and regional names.
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