Australia's NAB to buy Citi's local credit card business in $882m deal

Australia's NAB to buy Citi's local credit card business in $882m deal

CitiGroup Building. Photo: Mint

National Australia Bank will buy Citigroup’s local consumer unit for about $882.24 million, the companies said Monday, as the American bank exits the region while buy-now, pay-later rivals challenge the old credit card business model.