BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Axis Bank Ltd. yesterday completed its acquisition of CitiBank’s (India) consumer business including transfer of Rs 273 billion of assets, Rs 400 billion of deposits, and ~3,200 Citi employees.
Post-acquisition Common Equity Tier I ratio at 13.7% is better than anticipated earlier, lowering immediate need of capital raise. While Citi’s deposits base and wealth assets under management have declined by 15-20% since the deal announcement, quality of deposits (deposit per account) and spends per card have improved.
The acquisition gives strategic thrust to Axis Bank in closing gap with peers. However, benefits on profitability will accrue only by FY26E given the Rs 20 billion of integration costs to be incurred over next 18 months.
Click on the attachment to read the full report:
Also Read: Axis Bank Acquires Citi India’s Consumer Business; Synergies To Accrue From CY24: Motilal Oswal
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
RECOMMENDED FOR YOU
![](https://images.assettype.com/bloombergquint/2024-05/28c284f9-0de3-4847-a1d0-4473b60a33d8/State_Bank_Of_India_SBI_Bhavan_at_Nariman_Point_in_Mumbai_210119__3__jpeg.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
SBI Looks To Boost Project Finance Division With Sector Experts
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-01/f7270067-c145-4f6b-b811-57f81aee1c63/giorgio_trovato_BRl69uNXr7g_unsplash.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Foreign Investors Favour US ETFs Over India, Citi Says
![timelogo](/images/amp-time.png)
HDFC Bank To Vodafone Idea: These Were The Most Popular Stocks Among Traders In April
![timelogo](/images/amp-time.png)
![](https://images.assettype.com/bloombergquint/2024-04/01964868-52ad-48e6-9cd4-171daf6f0a8d/traveler_couple_person_travel_at_aerodrome_with_ba_2023_11_27_04_50_55_utc__1_.jpg?rect=0%2C0%2C3500%2C1969&auto=format%2Ccompress&format=webp&w=75)
Brokerage Views: Nuvama On SBI, Citi On Asian Paints And More
![timelogo](/images/amp-time.png)