Citi completes sale of Vietnam consumer banking business to UOB

Citi completes sale of Vietnam consumer banking business to UOB

FILE PHOTO: The United Overseas Bank (UOB) Plaza is seen in Singapore July 26, 2022. REUTERS/Edgar Su

Citigroup said on Wednesday that it had completed the sale of its Vietnam retail banking and consumer credit card businesses to Singapore’s United Overseas Bank in a transaction expected to result in a “modest regulatory capital benefit”.