Axis Bank emerges as frontrunner for Citi India's consumer business

Axis Bank emerges as frontrunner for Citi India's consumer business

Brochures are seen at a branch of Axis Bank in Mumbai, India, January 22, 2018. REUTERS/Danish Siddiqui/Files

Axis Bank has emerged as the frontrunner to buy Citi’s consumer business in India, which is being valued at around $1.5 billion in a planned deal that’s likely to happen this month, according to two sources with direct knowledge of the matter.