SINGAPORE -- Singapore fintech startup Validus has joined the rush to snap up units of Citigroup as the U.S. bank continues to shed operations in Asia, a rare example of a newcomer buying the assets of an established lender.
Finance
Singapore's Validus to take over Citi's local business loan book
Fintech backed by Temasek vehicle Vertex joins large banks in acquisition drive
Validus says this is the first time in Southeast Asia for a fintech to acquire an established bank's loan portfolio and customer base. (Source photos by screenshot from Validus' website and AP)
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