Citi picks Standard Charterd bank in Malaysia as front runner for Asia retail sales

In Malaysia, Standard Chartered Plc has emerged as the frontrunner to buy Citigroup’s retail consumer assets in a deal that could also be valued at several hundred million dollars, the sources said.

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.