![]() In a separate statement, Citi confirmed that it entered into an agreement with UnionBank in relation to the latter’s acquisition of its consumer banking franchise in the country.Ĭiti said the transaction with the Aboitiz-led bank covers its local credit card, unsecured lending, deposit and investment businesses, as well as Citicorp Financial Services and Insurance Brokerage Philippines Inc. (Citi) to acquire the American lender’s consumer banking business in the Philippines. ![]() In a disclosure to the Philippine Stock Exchange on Thursday, UnionBank announced it has entered into a Share and Business Transfer Agreement with various subsidiaries of Citigroup Inc. Union Bank of the Philippines is taking over American banking giant Citigroup Inc.’s consumer banking business in the country.
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