Citibank eyes regional bank takeovers

Citibank Australia chief executive Les Matheson said the bank was examining opportunities to make an acquisition in order to expand distribution. “We have only seven branches. We would obviously like a lot more, so distribution is certainly something that we would be highly interested in acquiring,” he said. “It's not a question of how much are we prepared to spend. It's more a question of what it's worth and how quickly can you make it accretive.” Citibank tried and failed late lasy year to buy Wizard Home Loans, a business bought by GE Capital.