Axis leads in taking over Citi's India Retail Business

Citigroup had, in April, announced its decision to exit its consumer banking operations in India as part of an ongoing strategic review, which was part of strategic actions in global consumer banking across 13 markets.
A handful of top domestic lenders were interested in Citi’s India retail business. Private sector lender Axis Bank is leading the race for Citi’s India retail business, with a final outcome expected in the coming weeks.
Axis Bank is one of the top private sector lenders. The bank's retail business franchise has strengthened, with the share of retail loans improving to about 56 per cent of total loans – led by home loans.