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United Overseas Bank

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History

2022: Purchase of Citigroup units in Indonesia, Malaysia, Thailand, Vietnam for $3.6 billion

In early January 2022, Citigroup announced that it was selling its personal services business in Indonesia, Malaysia, Thailand and Vietnam to Singapore's United Overseas Bank (UOB) for $3.6 billion. The transaction is expected to be completed between mid-2022 and early 2024, depending on the progress and results of regulatory approval. More details here.