Consumer finance: Smaller players fill the void

A year-and-a-half back, Viral Patel, who runs an electronics goods showroom in the western suburb of Andheri, had agents from ICICI Bank, CitiFinancial and GE Money queuing up at his store to offer......

Citi's cuts losses on Indian consumer finance biz

Citicorp has managed to pare net credit losses from its Indian consumer credit business, comprising cards and consumer banking, by over 38 per cent to around Rs 400 crore by June-end compared with......

Banga quits Citi to join MasterCard

Ajay Banga, Citi's senior-most executive in the Asia-Pacific, has put in his papers and will join MasterCard Worldwide as its president and chief operating officer. Forty-nine-year-old Banga,......

CitiFinancial reduces asset book by a third

CitiFinancial, Citibank India's non-banking finance arm, has reduced its asset book by one-third and its branch network by a quarter of the year-ago level as part of a restructuring exercise, Citi......