SINGAPORE: Citigroup Inc has chosen preferred bidders for its consumer assets in several Asian markets as the US lender presses ahead with its plans to divest numerous units across the region, according to sources. The US lender picked Bank of Ayudhya Pcl as the leading suitor to buy its retail assets in Thailand, the sources said. The bank, which is owned by Japan’s Mitsubishi UFJ Financial Group Inc, will continue to negotiate the terms of a potential deal in the coming weeks, they said.A tran

The selling pressure came from active funds and ETFs, resulting in a continued net withdrawal that exerted pressure on the market.In March, foreign ETFs experienced a significant increase in net withdrawals, surpassing a total of US$ 55mil.... Notably, the selling was driven by active funds rather than ETFs. According to Van, the selling by foreign investors is a global phenomenon, with funds flowing into developed markets while weakening in Asian markets, including Thailand and Vietnam.... To

SINGAPORE: DBS Group Holdings Ltd and Standard Chartered Plc are among the lenders planning to bid for Citigroup Inc consumer banking assets in Asia as the US lender divests units across five markets in the region, according to sources. Binding bids for Citigroup’s retail assets in Indonesia, the Philippines, Taiwan and Thailand are due today, while offers for the India unit are due next week, said the sources. The sales offer the buyers a chance to scale up high-end credit card and wealth busin