Citibank, one of India's oldest foreign lenders&nbsp;has taken down its signboard from its landmark Kanak Building office on Kolkata's Chowringhee road, as&nbsp;part of a rebranding effort following the sale of its consumer business to&nbsp;Axis Bank in 2021, reported Moneycontrol.&nbsp;

A Citibank representative who requested anonymity in order to discuss internal matters with Moneycontrol said the rebranding process had started. The merger will take place as of March 1, 2023, under the terms of the agreement.

“The existing Citi signboard at the Kanak Building office will be replaced by both Citi and Axis branding. But in some branches, they have completely replaced Citi with Axis Bank,’’ said the Citi official.

In reply to a query from Moneycontrol, Citibank stated that the signage change is a logical step in the already established process of transitioning our consumer banking locations to Axis.

Disclaimer:&nbsp;WION cannot independently verify the authenticity of photos and videos shared on social media.

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Citibank and GM, both american - could not compete with the new gen competitors! 
 
What went wrong, would make a lovely case study(ies)! 
 
Do not believe in the BS talk of Citi's management that they are withdrawing from a market where per capita incomes are rising! <a href="https://t.co/0Ffk1wxan7">https://t.co/0Ffk1wxan7</a>
— Vijayanand Venkataraman, CFA (@vijayvenkatram) <a href="https://twitter.com/vijayvenkatram/status/1629803381803061248?ref_src=twsrc%5Etfw">February 26, 2023</a></blockquote>
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"There is no change or impact to services at any of our branches because of this change; also, customers have been informed well in advance," Citi bank's representative told Moneycontrol.

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The Citibank official&nbsp;also stated that both banks are fully&nbsp;committed to ensuring that clients have a smooth transition and that they had&nbsp;informed them of this in&nbsp;prior communications.

Credit cards, retail banking, wealth management, and consumer loans are all included in Citi's agreement with Axis Bank for the sale of its consumer banking division, according to Citigroup.

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The transaction also entails the sale of Citicorp Finance (India) Limited's consumer business, which includes the portfolio of personal loans as well as commercial vehicle and construction equipment loans.

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Citibank, one of India's oldest foreign lenders has taken down its signboard from its landmark Kanak Building office on Kolkata's Chowringhee road, as part of a rebranding effort following the sale of its consumer business to Axis Bank in 2021, reported Moneycontrol.

Citibank, one of India's oldest foreign lenders has taken down its signboard from its landmark Kanak Building office on Kolkata's Chowringhee road, as part of a rebranding effort following the sale of its consumer business to Axis Bank in 2021, reported Moneycontrol. A Citibank representative who requested anonymity in order to discuss internal matters with Moneycontrol said the rebranding process had started. The merger will take place as of March 1, 2023, under the terms of the agreement. “The existing Citi signboard at the Kanak Building office will be replaced by both Citi and Axis branding. But in some branches, they have completely replaced Citi with Axis Bank,’’ said the Citi official. In reply to a query from Moneycontrol, Citibank stated that the signage change is a logical step in the already established process of transitioning our consumer banking locations to Axis. Disclaimer: WION cannot independently verify the authenticity of photos and videos shared on social media. Citibank and GM, both american - could not compete with the new gen competitors! What went wrong, would make a lovely case study(ies)! Do not believe in the BS talk of Citi's management that they are withdrawing from a market where per capita incomes are rising! https://t.co/0Ffk1wxan7 — Vijayanand Venkataraman, CFA (@vijayvenkatram) February 26, 2023 × "There is no change or impact to services at any of our branches because of this change; also, customers have been informed well in advance," Citi bank's representative told Moneycontrol. ALSO READ | IIT Bombay alumni develop smartphone-based health test kit that gives results in 30 seconds: Report The Citibank official also stated that both banks are fully committed to ensuring that clients have a smooth transition and that they had informed them of this in prior communications. Credit cards, retail banking, wealth management, and consumer loans are all included in Citi's agreement with Axis Bank for the sale of its consumer banking division, according to Citigroup. ALSO READ | After staff, Google now lays off over 100 robots that cleaned cafeterias: Report The transaction also entails the sale of Citicorp Finance (India) Limited's consumer business, which includes the portfolio of personal loans as well as commercial vehicle and construction equipment loans. WATCH WION LIVE HERE:

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Citibank removes signboard from landmark Kolkata office after 121 years as part of rebranding

Citibank to exit retail banking in India