Citibank Thailand to acquire TISCO's credit card and personal loans portfolio

The total portfolio is expected to include over $150m in receivables.

Citibank Thailand has signed an agreement to acquire TISCO Bank’s Unsecured Personal Loans portfolio and All-Ways’ Credit Card business for an undisclosed price.

According to a press release, the personal loans portfolio is expected to be absorbed by Q2 whilst the credit card business should be migrated before the year ends. Total portfolio is projected to include over $150m in receivables and over 130,000 accounts.

“This transaction gives us the opportunity to further grow our business in Thailand as we work towards sustaining our positive growth momentum in our Consumer Banking business in the region,” said Citibank head of global consumer banking Anand Selva.