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 is the primary reason for City selling its Australian retail unit?

• To merge with Commonwealth Bank

• To exit 13 global markets

• To focus on institutional clients

• To increase its valuation

How much is the valuation of the deal for City’s Australian retail unit?

• $3 billion

• $3.45 billion

• $4 billion

• $2.5 billion

What position does City aim to achieve in the Australian credit card market?

• Number two

• Number four

• Number three

• Number one

Who is the CEO of NAB making bold moves in the market?

• Brian Hartzer

• Andrew Thorburn

• Ross McEwan

• Jane Fraser

What is a major concern for investors regarding NAB's investment?

• The lack of a tech platform

• The competition with Commonwealth Bank

• The high cost of the deal

• The shrinking credit card market