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Business deals

UnionBank to buy Citigroup's Philippine consumer banking business

Nation's 10th-largest lender targets high-end market for expansion

The deal aims to power UnionBank's expansion into digital banking to compete with bigger rivals. (Source photos by Reuters and UnionBank website)

MANILA -- UnionBank of the Philippines said on Thursday it will buy Citigroup's consumer banking business in the country for at least 45.3 billion pesos ($908 million).

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