SG Talk

I was hoping someone would post this news here but after waiting for about 2 days, nobody did. So here's it.

BY
NG JUN SEN
Published January 14, 2022
Updated January 14, 2022


SINGAPORE — United Overseas Bank (UOB) will be acquiring the consumer business of Citibank in four countries for around S$5 billion, in a move that would propel its status to a leading retail bank and card issuer in these markets in one fell swoop

......

Its winning bid to take over Citi’s assets in Malaysia, Indonesia, Thailand and Vietnam is expected to double its retail customer base there to 5.3 million altogether, moving forward its customer base targets five years ahead of time.

When the acquisition is completed around early 2024, UOB will serve approximately 10 million customers in Singapore and the region


https://www.todayonline.com/singapore/uo...5b-1790841

Some thoughts on this acquisition by a blogger on the web.

https://www.drwealth.com/uob-acquires-ci...-business/

Time to switch bank and cancel credit card from UOB liao

(17-01-2022, 07:37 AM)Levin Wrote: [ -> ]I was hoping someone would post this news here but after waiting for about 2 days, nobody did. So here's it.

BY
NG JUN SEN
Published January 14, 2022
Updated January 14, 2022


SINGAPORE — United Overseas Bank (UOB) will be acquiring the consumer business of Citibank in four countries for around S$5 billion, in a move that would propel its status to a leading retail bank and card issuer in these markets in one fell swoop

......

Its winning bid to take over Citi’s assets in Malaysia, Indonesia, Thailand and Vietnam is expected to double its retail customer base there to 5.3 million altogether, moving forward its customer base targets five years ahead of time.

When the acquisition is completed around early 2024, UOB will serve approximately 10 million customers in Singapore and the region


https://www.todayonline.com/singapore/uo...5b-1790841

Will the credit card issued by Citibank will still be able to  use after the takeover by UOB..?