UOB Group to acquire Citigroup’s consumer business in Indonesia, Malaysia, Thailand and Vietnam 17 January 2022

United Overseas Bank Limited (UOB)’s subsidiaries have entered into agreements to acquire Citigroup’s consumer banking businesses comprising its unsecured and secured lending portfolios, wealth management and retail deposit businesses (the Consumer Business) in Indonesia, Malaysia, Thailand and Vietnam (the Proposed Acquisition). As part of the Proposed Acquisition, UOB intends to bring onboard the employees in the Consumer Business. The Proposed Acquisition will further strengthen and deepen UOB’s ASEAN franchise.

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