Major Credit Card Players in India 💳
Cards Issued (Lakhs)
HDFC 163
SBI 135
ICICI 128
Axis 86
RBL 36
Kotak 30
#Citibank 26
How will Axis-Citi take over impact this? ⤵️
Cards Issued (Lakhs)
HDFC 163
SBI 135
ICICI 128
Axis 86
RBL 36
Kotak 30
#Citibank 26
How will Axis-Citi take over impact this? ⤵️
Axis Bank will takeover loans, credit cards, wealth management and retail banking operations of Citibank.
Post this deal, Axis bank’s Cards balance sheet is expected to grow by 57% with making it one of the top 3 Cards businesses in the country!
#AxisBank #StocksInFocus
#AxisBank #StocksInFocus
The deal will add aggregate deposits of Rs 502 billion to Axis' portfolio, of which 81 % is CASA.
It also give access to Citi's 1,600+ Corporates relationships with more than 1 million salary account customers (with an avg salary of Rs 7Ok per month).
It also give access to Citi's 1,600+ Corporates relationships with more than 1 million salary account customers (with an avg salary of Rs 7Ok per month).
Axis will gain access to 7 offices, 21 branches and 499 ATMs across 18 cities.
Citibank’s customers will also get benefitted from Axis Bank’s wide geographical reach and large product baskets.
Citibank’s customers will also get benefitted from Axis Bank’s wide geographical reach and large product baskets.
Axis will become 3rd largest player by combined AUM in the wealth management space after acquiring Rs. 1,109 Bn AUM from Citi Wealth & Private Banking products.
Post this deal, Axis will have 28.5 million Savings Accounts, 2.3 lakh-plus Burgundy customers and 10.6 million cards.
Axis will pay a consideration upto Rs. 12,325 Crore to Citibank for the acquisition!
Axis will pay a consideration upto Rs. 12,325 Crore to Citibank for the acquisition!
As per Axis, the deal has been completed at an implied PE of 18.7x based on FY 2020 financials.
Do you think it's a reasonable deal for Axis' shareholders?🤔
Do you think it's a reasonable deal for Axis' shareholders?🤔
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