UOB to buy Citigroup's retail units in 4 SE Asian markets for $3.65b

UOB to buy Citigroup's retail units in 4 SE Asian markets for $3.65b

UOB in Singapore. Credit: United Overseas Banking Group

Singapore lender United Overseas Bank (UOB) has agreed to buy Citigroup’s consumer businesses in Indonesia, Malaysia, Thailand and Vietnam for about S$4.915 billion ($3.65 billion), funding the purchase with the bank’s excess capital.