Liquidity boost: Buildings in the Parel area of Mumbai. Private banks have historically been rare in the market, but have begun tapping it or exploring deals amid regulatory pressure. — Bloomberg
MUMBAI: Citigroup Inc’s India unit is set to buy record asset-backed securities as domestic lenders seek liquidity amid sluggish deposit growth.
The bank plans to buy asset-backed securities linked to retail loans, increasing its book by three-fold to over US$1bil by the end of the fiscal year, said Aditya Bagree, managing director and head of markets at Citi India.
