![]() ![]() The company has operated a significant white-labelling business for other brands’ credit card offerings, such as Bank of Queensland, Coles, Suncorp, Virgin Money, Qantas, RACQ Bank, IMB Bank, Auswide Bank and Kogan. With a 13 per cent share in the credit card market, Citi is miles ahead of the next challenger, HSBC, which runs 3 per cent of the market.Ĭitigroup had $3.66 billion in outstanding credit card assets as of December 31, according to APRA data, and total loans to Australians and finance leases worth $11.57 billion. ![]() The global bank late on Thursday announced it was formally putting its Australian consumer banking division on the sale block, alongside plans to exit from 12 other countries, but has stressed it is focused on using its institutional division to help grow the company through financing Australia’s transition to a low carbon economy.Ĭitigroup is the No.5 player in Australia’s credit card market, trailing only the big four banks. Citigroup will end a 36-year innings in retail banking in Australia with the sale of its consumer lending operations after the US investment bank’s headquarters kicked off a review of its Asian retail operations. ![]()
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