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Five banks in the fray for Citi India's retail business: Report

Axis Bank, IndusInd Bank, Kotak Mahindra Bank, HDFC Bank, and DBS Bank are reportedly the top contenders for Citi's retail business in India.

August 10, 2021 / 08:48 AM IST
As on March, 2020, Citibank has 2.9 million retail customers in India with 1.2 million bank accounts and 2.2 million credit card accounts. (Image: Reuters)

As on March, 2020, Citibank has 2.9 million retail customers in India with 1.2 million bank accounts and 2.2 million credit card accounts. (Image: Reuters)

Five banks have emerged as the top contenders of Citi India's estimated $2-billion retail business, which includes its portfolio of credit cards and mortgages, The Economic Times has reported.

Four domestic lenders - Axis Bank, IndusInd Bank, Kotak Mahindra Bank, HDFC Bank - and one foreign lender - DBS Bank - are on a shortlist that could be further trimmed to three, the report said.

Also read: Exclusive | Citibank to look for a buyer for its India retail business

Moneycontrol could not independently verify the story.