Citi to sell four Southeast Asia Consumer business to UOB Group

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Citi to sell four Southeast Asia Consumer business to UOB Group

Seeking Alpha2022-01-14

Citigroup has reached agreement with Singapore’s United Overseas Bank on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes ...

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Comment（8）

HTChin
·2022-01-15
Can expect higher dividend payout and share price to catch up with DBS in the near future (DBS is now trading at $35)...
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Tendollar
·2022-01-14
Finally UOB going big outside Singapore.
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Mtan23
·2022-01-14
Good read
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Ken7979
·2022-01-14
Really positive!
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koolgal
·2022-01-14
Great news for UOB shareholders as UOB is buying over Citigroup consumer banking business in 4 Asean countries! This will increase the customer base of UOB Group! Go UOB!
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Simran Lion
·2022-01-14
Ok
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Hou Boon
·2022-01-14
ok
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7united
·2022-01-14
Like pls
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Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to 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reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9005971050,"gmtCreate":1642161681514,"gmtModify":1676533687757,"author":{"id":"3579572647008782","authorId":"3579572647008782","name":"Mtan23","avatar":"https://static.tigerbbs.com/21a2ddfc414d0d3eab50e895e776bf23","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3579572647008782","authorIdStr":"3579572647008782"},"htmlText":"Good read&nbsp;","listText":"Good read&nbsp;","text":"Good read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005971050","repostId":1125504839,"repostType":4,"repost":{"id":"1125504839","kind":"news","pubTimestamp":1642147672,"share":"https://ttm.financial/m/news/1125504839?lang=&edition=fundamental","pubTime":"2022-01-14 16:07","market":"us","language":"en","title":"Citi to sell four Southeast Asia Consumer business to UOB Group","url":"https://stock-news.laohu8.com/highlight/detail?id=1125504839","media":"Seeking Alpha","summary":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its co","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/C\">Citigroup </a> has reached agreement with Singapore’s <a href=\"https://laohu8.com/S/U11.SI\">United Overseas Bank </a> on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.</p><p>The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.</p><p>The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.</p><p>Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.</p><p>Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.</p><p>“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,&#34; said Mark Mason, Citi CFO.</p><p>The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.</p><p>Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi to sell four Southeast Asia Consumer business to UOB Group</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; 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Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9005958034,"gmtCreate":1642153914537,"gmtModify":1676533687188,"author":{"id":"3558513945558541","authorId":"3558513945558541","name":"Ken7979","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":5,"crmLevelSwitch":1,"idStr":"3558513945558541","authorIdStr":"3558513945558541"},"htmlText":"Really positive!&nbsp;","listText":"Really positive!&nbsp;","text":"Really positive!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005958034","repostId":1125504839,"repostType":4,"repost":{"id":"1125504839","kind":"news","pubTimestamp":1642147672,"share":"https://ttm.financial/m/news/1125504839?lang=&edition=fundamental","pubTime":"2022-01-14 16:07","market":"us","language":"en","title":"Citi to sell four Southeast Asia Consumer business to UOB Group","url":"https://stock-news.laohu8.com/highlight/detail?id=1125504839","media":"Seeking Alpha","summary":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its co","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/C\">Citigroup </a> has reached agreement with Singapore’s <a href=\"https://laohu8.com/S/U11.SI\">United Overseas Bank </a> on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.</p><p>The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.</p><p>The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.</p><p>Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.</p><p>Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.</p><p>“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,&#34; said Mark Mason, Citi CFO.</p><p>The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.</p><p>Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi to sell four Southeast Asia Consumer business to UOB Group</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ 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reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9005927118,"gmtCreate":1642152227681,"gmtModify":1676533686899,"author":{"id":"3559581955535845","authorId":"3559581955535845","name":"koolgal","avatar":"https://static.tigerbbs.com/c05274d88ffc0434623e57350c52c70a","vip":2,"hat":"https://static.tigerbbs.com/0a8758340a08196056f8bc1e54805193","crmLevel":6,"crmLevelSwitch":1,"idStr":"3559581955535845","authorIdStr":"3559581955535845"},"htmlText":"Great news for UOB shareholders as UOB is buying over Citigroup consumer banking business in 4 Asean countries!&nbsp; This will increase the customer base of UOB Group! Go UOB!&nbsp;","listText":"Great news for UOB shareholders as UOB is buying over Citigroup consumer banking business in 4 Asean countries!&nbsp; This will increase the customer base of UOB Group! Go UOB!&nbsp;","text":"Great news for UOB shareholders as UOB is buying over Citigroup consumer banking business in 4 Asean countries! This will increase the customer base of UOB Group! Go UOB!","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":8,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005927118","repostId":1125504839,"repostType":2,"repost":{"id":"1125504839","kind":"news","pubTimestamp":1642147672,"share":"https://ttm.financial/m/news/1125504839?lang=&edition=fundamental","pubTime":"2022-01-14 16:07","market":"us","language":"en","title":"Citi to sell four Southeast Asia Consumer business to UOB Group","url":"https://stock-news.laohu8.com/highlight/detail?id=1125504839","media":"Seeking Alpha","summary":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its co","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/C\">Citigroup </a> has reached agreement with Singapore’s <a href=\"https://laohu8.com/S/U11.SI\">United Overseas Bank </a> on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.</p><p>The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.</p><p>The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.</p><p>Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.</p><p>Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.</p><p>“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,&#34; said Mark Mason, Citi CFO.</p><p>The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.</p><p>Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi to sell four Southeast Asia Consumer business to UOB Group</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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*/\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCiti to sell four Southeast Asia Consumer business to UOB Group\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-14 16:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":697094922,"gmtCreate":1642150833406,"gmtModify":1676532579513,"author":{"id":"4088165875992940","authorId":"4088165875992940","name":"Simran Lion","avatar":"https://static.tigerbbs.com/5eb075787d24d94766b7ec227269e1bd","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4088165875992940","authorIdStr":"4088165875992940"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/697094922","repostId":1125504839,"repostType":4,"repost":{"id":"1125504839","kind":"news","pubTimestamp":1642147672,"share":"https://ttm.financial/m/news/1125504839?lang=&edition=fundamental","pubTime":"2022-01-14 16:07","market":"us","language":"en","title":"Citi to sell four Southeast Asia Consumer business to UOB Group","url":"https://stock-news.laohu8.com/highlight/detail?id=1125504839","media":"Seeking Alpha","summary":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its co","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/C\">Citigroup </a> has reached agreement with Singapore’s <a href=\"https://laohu8.com/S/U11.SI\">United Overseas Bank </a> on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.</p><p>The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.</p><p>The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.</p><p>Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.</p><p>Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.</p><p>“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,&#34; said Mark Mason, Citi CFO.</p><p>The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.</p><p>Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi to sell four Southeast Asia Consumer business to UOB Group</title>\n<style 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Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":9005967778,"gmtCreate":1642149113492,"gmtModify":1676533686698,"author":{"id":"4093766532975030","authorId":"4093766532975030","name":"Hou 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co","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/C\">Citigroup </a> has reached agreement with Singapore’s <a href=\"https://laohu8.com/S/U11.SI\">United Overseas Bank </a> on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.</p><p>The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.</p><p>The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.</p><p>Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.</p><p>Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.</p><p>“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,&#34; said Mark Mason, Citi CFO.</p><p>The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.</p><p>Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi to sell four Southeast Asia Consumer business to UOB Group</title>\n<style 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Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9005962755,"gmtCreate":1642147848910,"gmtModify":1676533686594,"author":{"id":"4101867685462840","authorId":"4101867685462840","name":"7united","avatar":"https://static.tigerbbs.com/c58862424d0a0bd2f497e595d175522e","vip":1,"crmLevel":6,"crmLevelSwitch":0,"idStr":"4101867685462840","authorIdStr":"4101867685462840"},"htmlText":"Like pls&nbsp;","listText":"Like pls&nbsp;","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9005962755","repostId":1125504839,"repostType":4,"repost":{"id":"1125504839","kind":"news","pubTimestamp":1642147672,"share":"https://ttm.financial/m/news/1125504839?lang=&edition=fundamental","pubTime":"2022-01-14 16:07","market":"us","language":"en","title":"Citi to sell four Southeast Asia Consumer business to UOB Group","url":"https://stock-news.laohu8.com/highlight/detail?id=1125504839","media":"Seeking Alpha","summary":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its co","content":"<html><head></head><body><p><a href=\"https://laohu8.com/S/C\">Citigroup </a> has reached agreement with Singapore’s <a href=\"https://laohu8.com/S/U11.SI\">United Overseas Bank </a> on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.</p><p>The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.</p><p>The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.</p><p>Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.</p><p>Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.</p><p>“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,&#34; said Mark Mason, Citi CFO.</p><p>The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.</p><p>Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Citi to sell four Southeast Asia Consumer business to UOB Group</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCiti to sell four Southeast Asia Consumer business to UOB Group\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-01-14 16:07 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group><strong>Seeking Alpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes ...</p>\n\n<a href=\"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"U11.SI":"大华银行","C":"花旗"},"source_url":"https://seekingalpha.com/news/3788160-citi-to-sell-four-southeast-asia-consumer-business-to-uob-group","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1125504839","content_text":"Citigroup  has reached agreement with Singapore’s United Overseas Bank  on the acquisition of its consumer banking franchises in Indonesia, Malaysia, Thailand and Vietnam.The transaction includes retail banking and credit card businesses but excludes the bank’s institutional businesses in all four countries.The purchase price includes net asset value of about S$4B of the businesses being sold and a premium of S$915M ($690M) paid by UOB.Approx. 5,000 Citi consumer banking staff and supporting employees in the four markets are expected to transfer to UOB.Upon closing, the bank expects the transaction to result in the release of ~$1.2B of allocated tangible common equity, as well as an increase to tangible common equity of over $200M.“The sale of these four consumer markets, along with our previously announced transactions, demonstrate our sense of urgency to execute our strategic refresh,\" said Mark Mason, Citi CFO.The deal to be completed between mid-2022 and early 2024, depending on the progress and outcome of regulatory approvals.Last year, Citi said it was exiting retail banking in 13 countries outside U.S. to focus more on wealth management.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":36,"commentSize":8,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}