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Axis’ buy of Citi’s consumer business has minimum negative surprise

Madhuchanda Dey   •

Deal gives Axis access to super affluent clients of Citi as also the scope to cut cost and derive synergy benefits

Axis expects the integration to complete in the coming 18 months and pegs Rs 1500 crore as the integration cost – a combination of Rs 1200 crore for using the transaction services from Citi and Rs 300 crore as pure integration costs

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