October 20, 2022
Via: CNSNews.comAttorneys-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 […]
April 5, 2022
Via: American BankerCitigroup 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 […]
December 10, 2021
Via: YahooIn 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, […]
June 28, 2021
Via: FinTech FuturesDeutsche 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
February 10, 2021
Via: FinTech FuturesThe 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 […]
January 15, 2021
Via: CNBCCitigroup 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
December 11, 2020
Via: YahooPerformances 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 […]
September 29, 2020
Via: FinTech FuturesCiti’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 […]
September 17, 2020
Via: Banking TechnologyThe 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 […]
September 3, 2020
Via: Banking TechnologyThe 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
July 14, 2020
Via: CNBCCitigroup 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
March 24, 2020
Via: TheStreetWith 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 […]
March 11, 2020
Via: CNBCThe 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 […]
March 3, 2020
Via: CNBCBank 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 […]
January 30, 2020
Via: CNBCCitigroup 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 […]
January 15, 2020
Via: TheStreetBank 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 […]
January 8, 2020
Via: Bank InnovationCitigroup 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 […]
November 27, 2019
Via: Banking TechnologyPRA 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 […]
November 13, 2019
Via: CNBCGoogle 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 […]
October 15, 2019
Via: CNBCCitigroup 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 […]