Axis Bank Ltd Watchlist
Axis Bank – Lost In The Citi
154 Views, 20 Jan 2022 09:14
Axis Bank (AXSB.IN) [Axis] has become the frontrunner to purchase Citigroup’s (C.US) India [Citi India] consumer business;
- The Citi India transaction would represent a negative adjusted net spread of 41 bp for Axis – intimating a negative return on investment of 1.0%; and
- As many customers have hit the exit button, we have already witnessed Citi India's retail loan portfolio decline 6.7% YOY prior to FY 2022 COVID-19 protocols.