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UOB's Citi deal set to accelerate its growth plans by five years
Move will double its retail customers in 4 markets, boost card business in region
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UOB's $4.915 billion acquisition of Citigroup's consumer banking franchise in Malaysia, Thailand, Indonesia and Vietnam will enable it to scale up its business in four key regional markets at one go and accelerate its growth targets by five years, UOB deputy chairman and chief executive Wee Ee Cheong said yesterday.
The move comes at a time when UOB's competitors are expanding their market share in countries such as China and India.
