Tag: Citigroup


Six U.S. Banks Investigated for Working With U.N. to Deny Credit to Fossil-Fuel-Involved Companies

October 20, 2022


Attorneys-general from 19 states are investigating six major American banks that have signed on to the United Nations’ Net-Zero Banking Alliance, pledging to achieve net-zero emissions in their lending and investment portfolios by 2050. The banks under investigation include Bank […]

Activity, Retail Banking

Citi to sell its consumer unit in Bahrain to Ahli United Bank

April 5, 2022

Via: American Banker

Citigroup agreed to sell its consumer banking operations in Bahrain to Ahli United Bank BSC as part of the lender’s continued push to simplify. The transaction includes Citigroup’s retail banking, credit card and unsecured-lending businesses, and excludes the firm’s institutional […]

Capital and Risk, Trading

Bank Stock Roundup: C, JPM, USB in Focus on Business Expansion Efforts

December 10, 2021

Via: Yahoo

In the past five trading days, major banks were in focus on the expectations of the Federal Reserve turning more hawkish. In company-specific developments, Citigroup C was in the limelight for pausing its share repurchases in the current quarter. Also, […]


Architecture heads at Deutsche Bank and JP Morgan leave months into their jobs

June 28, 2021

Via: FinTech Futures

Deutsche Bank has seen head of group architecture, John Smith, depart to join IHS Markit. Smith arrived at Deutsche from NatWest Markets in March, but is headed out after less than four months. Once CIO at NatWest, Smith has a […]

News, Regulations, Retail Banking

USAA Federal Savings Bank nabs new risk head from Citigroup

February 10, 2021

Via: FinTech Futures

The San Antonio-based firm has also promoted from within. It’s moved former head of retail banking, Paul Vincent, to a new role as head of its banking unit. “USAA is adding a highly talented risk professional with two decades of […]

Activity, Investment Banking

Citigroup beats analysts’ profit estimates as bank releases money set aside for loan losses

January 15, 2021


Citigroup on Friday posted fourth-quarter results that beat analysts’ estimates for profit as the firm joined rival JPMorgan Chase in releasing reserves for loan losses. Citigroup said earnings fell 7% to $4.63 billion, or $2.08 a share, compared with the […]

Activity, Investment Banking, Trading

Bank Stock Roundup: Upbeat Trading Outlook, Treasury Yields Decline, Citi in Focus

December 11, 2020

Via: Yahoo

Performances of major bank stocks over the last five trading days paint a mixed picture. Positive trading revenue outlook provided by some of the major banks indicates that the earnings picture will be impressive in the fourth quarter. This is […]

Activity, Investment Banking

Citigroup promises $1bn to close US racial wealth gap

September 29, 2020

Via: FinTech Futures

Citi’s new three-year initiative focuses on providing greater access to banking and credit in Black majority communities. The bank also plans to expand its investment in Black-owned businesses and see more Black Americans owning homes. “We are in the midst […]

Activity, Corporate Banking

Citigroup restarts job cuts after coronavirus pause

September 17, 2020

Via: Banking Technology

The bank, which became the first Wall Street institution to appoint a woman as its CEO last week, employs around 204,000 people. The bank expects its cuts to affect 26,000 people in 2020. Citi wasn’t alone in putting a pause […]


Citigroup first US bank to snag Chinese custody licence

September 3, 2020

Via: Banking Technology

The licence issued and approved by the China Securities Regulatory Commission, allows Citi to operate as a custodian bank in China. It arrives at a time when more firms are looking to tap into China’s financial sector since its relaxation […]

Activity, Corporate Banking, Trading

Citigroup reports better-than-expected earnings on strong trading results

July 14, 2020


Citigroup on Tuesday reported second-quarter results that surpassed analyst expectations thanks in part to a massive surge in trading revenue that helped offset a slowdown in the company’s consumer banking business. Here’s how the company’s results compared to analyst estimates: […]

Activity, Investment Banking, Trading

Bank of America Has Been Crushed – Here Is the Stock’s Must-Hold Long-Term Support

March 24, 2020

Via: TheStreet

With the federal-funds rate going to near zero, energy stocks collapsing alongside the price of oil, and stock market volatility roaring, the bank stocks have been crushed. Two months ago Citigroup (C) – Get Report, Morgan Stanley (MS) – Get […]


Bank CEOs convene in Washington for meeting with President Trump on coronavirus response

March 11, 2020


The leaders of the biggest U.S. banks are scheduled to meet with President Donald Trump on Wednesday afternoon as the U.S. government grapples with the spread of the coronavirus. CEOs expected to attend the 3 p.m. ET event include Brian […]

Activity, Trading

Bank stocks dive after the Fed slashes rates to curb coronavirus impact, JPMorgan off by 4%

March 3, 2020


Bank stocks sold off in unison on Tuesday following the Federal Reserve’s emergency rate cut to combat an economic slowdown triggered by the fast-spreading coronavirus. The weakness by the group kept the overall markets’ gains in check. Shares of JPMorgan […]

Retail Banking

Citigroup unveils free robo-advisor for customers with at least $50,000 at the bank

January 30, 2020


Citigroup is making a push for investors’ dollars with a new digital robo-advisor that’s free for customers with at least $50,000 in deposits or investments at the bank. That’s the threshold needed to qualify for the bank’s Citi Priority bundle […]

Activity, Investment Banking

Bank of America Tops Q4 Earnings Forecast With Solid Loan Growth

January 15, 2020

Via: TheStreet

Bank of America (BAC) – Get Report posted better-than-expected fourth-quarter earnings Wednesday as loan growth offset narrowing interest rate margins at the consumer-focused lender. Shares in the group opened weaker, however, after it cautioned that net interest income would likely […]

Activity, Investment Banking

Citi struck a deal to offer hedge fund-like investments to the masses

January 8, 2020

Via: Bank Innovation

Citigroup Inc. is teaming up with an online platform to make credit investments normally reserved for hedge funds and billionaires available in small slices to legions of individual investors. A partnership announced by the bank and YieldStreet Inc. on Wednesday […]


Citigroup fined record £43.9m for ‘widespread’ regulatory reporting failures

November 27, 2019

Via: Banking Technology

PRA deputy governor Sam Woods says “Citi failed to deliver accurate returns and failed to meet the standards of governance and oversight of regulatory reporting which [the PRA] expect of a systemically important bank”. The Bank of England, which oversees […]


Google is getting into banking with the search giant set to offer checking accounts next year

November 13, 2019


Google will offer checking accounts next year, according to a source familiar with the company’s plans, representing Big Tech’s boldest move yet into the consumer banking business. Most previous efforts have focused on credit cards and payment platforms. The accounts […]

Activity, Trading

Citigroup earnings beat on better-than-expected trading results

October 15, 2019


Citigroup on Tuesday reported third-quarter earnings and revenue that topped projections as stronger-than-expected trading results made up for weaker lending margins. Here’s how the bank fared compared to Wall Street expectations: Earnings: $1.97 per share vs $1.95 per share expected […]