Shares in India's JM Financial Ltd jumped nearly 17 percent Friday after the group said former Citigroup chief executive Vikram Pandit was buying a stake in the financial services company. After reaching the day's high in morning trade, JM Financial's shares closed up 13.38 percent at 26.70 rupees. The group announced Pandit's strategic investment late Thursday and said he would also become the non-executive chairman of a proposed bank if its licence is approved.

US bank Citigroup announced Friday it was acquiring the eastern Europe custody services business of its Dutch rival ING. The acquisition covers assets worth 110 billion euros ($143 billion) in seven countries: Bulgaria, Hungary, the Czech Republic, Romania, Russia, Slovakia and the Ukraine, according to statements from both banks. The transaction, for an amount not made public, is to be finalized in the first quarter of 2014, Citigroup said.

US banking giant Citigroup Monday reported a 30 percent increase in first-quarter net income from a year earlier due to higher revenues and lower net credit losses. Citigroup posted net income of $3.8 billion on revenues of $20.5 billion in the first quarter of 2013, up from $2.9 billion on $19.4 billion in the year-ago quarter. A key driver of the earnings increase was lower net credit losses, the ratio of current credit-related losses on a mortgage-backed security to the original value of the security, the bank said in a statement.

Turkey's Denizbank , acquired last year by Russia's Sberbank, said on Thursday it had signed an agreement to buy Citibank's consumer banking business in Turkey, part of a Citi plan to shed assets worldwide. Denizbank, one of Turkey's top-10 lenders by assets, said the acquisition was expected to close in the third quarter, subject to regulatory approvals. The purchase price will be set after financial results are determined. Sources close to the matter had told Reuters last month that Citi was in exclusive talks with Denizbank on the sale of the unit.