![]() DBS will pay Citi cash consideration for the net assets of the acquired businesses, plus a premium of approximately NTD 19.8 billion (US$715m), subject to customary closing adjustments. The agreement covers all related Citi staff, with approximately 3500 consumer bank and supporting employees expected to transfer to DBS Taiwan upon close of the proposed transaction. Citi remains committed and focused on serving institutional clients in Taiwan locally, regionally and globally. The transaction includes the retail banking, credit card, mortgage and unsecured lending businesses but excludes the bank's institutional businesses. ![]() Taipei Citi today announced it has reached agreement with DBS on the acquisition of Citi's consumer banking franchises in Taiwan.
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