Uralsib received a portfolio of Citibank credit cards
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Citibank credit cards will be transferred to Uralsib Bank for servicing with current conditions, the press service of Uralsib reported.
The credit institution added that a corresponding agreement was concluded with Citibank. After consent is received from credit card holders, they will be transferred to Uralsib for service. It is specified that the limit and interest rate will be preserved.
“We ask customers not to apply for a card on their own, but to wait for communication, which will be mandatory from our bank,” Uralsib added.
Bank Uralsib closed acquisition of a portfolio of retail consumer loans from Citibank at the end of 2022. The portfolio includes unsecured consumer loans. According to Uralsib, this portfolio has a high credit quality, provides an opportunity for significant growth in the client base in Moscow and St. Petersburg, and also contributes to an increase in the profitability of the credit institution’s assets.
On August 25, Citigroup made the decision to wind down its retail and SME business (SME) in Russia. The company planned to sell some portfolios of retail business during this process.
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