Business

Citi to sell consumer business in Malaysia, Indonesia, Thailand and Vietnam to UOB Group

  By CNBC CITIGROUP will sell its consumer banking businesses in Indonesia, Malaysia, Thailand and Vietnam to Singapore’s United Overseas Bank, the banks announced today (Jan. 14). As part of the deal, UOB said it will acquire Citi’s unsecured and secured lending portfolios, wealth management and retail deposit units that make up its consumer banking

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Business

Bank of Thailand to cut growth forecast

The Bank of Thailand is expected to lower its 3.2% growth forecast for Thailand this year against the backdrop of increasing downside risks stemming from the persistent Covid-19 outbreak. The economy is expected “to expand somewhat lower than the previous forecast”, said MPC secretary Titanun Mallikamas, even though the central bank’s Monetary Policy Committee (MPC)

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