Citi Agrees to Sell Australian Consumer Business to NAB

City is selling its Australia retail unit as part of a strategic move by CEO Jane Fraser, impacting 13 markets globally. The deal, valued at $3.45 billion, strengthens City's credit card business in Australia, positioning it against Commonwealth Bank. NAB CEO Ross McEwan is also making bold moves, investing in technology despite concerns about the shrinking credit card market.

What was Jane Fraser's first significant action as CEO of City?

How much is the valuation of the deal involving the Australian retail unit?

What impact does the deal have on City's credit card business in Australia?

Who is the CEO of NAB and what notable action did he take?

What concerns do investors have regarding the new technology platform associated with the deal?