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Citibank assures customers of seamless banking experience through transition

The deal with Axis Bank will provide “excellent opportunities” for all Citibank India customers and is expected to close by June 30, 2023

March 31, 2022 / 02:18 PM IST

Citibank India, which announced the sale of its consumer banking businesses in India to Axis Bank on March 30 assured its customers that there will be no immediate changes to any existing Citibank products like credit cards, loans, deposits and investments during the transition period.

“All our consumer banking operations, including our call centres, ATMs, relationship teams, branches, Citibank online portal and the Citi mobile application, shall continue to operate as they do today,” Citibank India’s Country Business Manager Arjun Chowdhry wrote to customers.

Chowdhry said the deal with Axis Bank will provide “excellent opportunities” for all Citibank India customers and is expected to close by June 30, 2023.

“This announcement is only the start of a process, and while there will be a transition, we shall ensure that it is done in as seamless a manner as possible. We will ensure that you are duly informed of all relevant changes to your services and products, with adequate advance notice,” he wrote.

As part of the $1.6-billion deal, Axis Bank on March 30 had also said that it will onboard more than 3,500 employees of Citibank after the acquisition.

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“For the past many decades, Citi India has attracted the best talent to its consumer businesses. We are excited to welcome this high-calibre pool into the Axis family. Our large and fast-growing retail banking business will provide the right platform for them to play to their potential,” Axis Bank MD and CEO Amitabh Chaudhry said in a presser on March 30.



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Moneycontrol News
first published: Mar 31, 2022 02:18 pm
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