Welcome to our dedicated page for Citigroup news (Ticker: C), a resource for investors and traders seeking the latest updates and insights on Citigroup stock.
Citigroup Inc. (C) is an American multinational investment bank and financial services corporation headquartered in New York City. Formed by the 1998 merger of Citicorp and Travelers Group, Citigroup operates in more than 100 countries and jurisdictions. The company’s core operations are divided into five primary segments: services, markets, banking, US personal banking, and wealth management.
Citigroup offers a broad range of financial services including cross-border banking for multinational corporations, investment banking, and trading, as well as credit card services within the United States. Recent achievements highlight Citigroup's ongoing innovation and growth. For instance, Citi-backed Elwood Technologies LLP was recently authorized by the UK Financial Conduct Authority (FCA) to provide institutional-grade access to digital asset exchanges and liquidity venues. This authorization solidifies Elwood's market-leading position and its commitment to offering regulated and transparent digital asset platforms.
Financially, Citigroup continues to maintain robust performance with a diverse portfolio and significant partnerships, such as those with Barclays, Goldman Sachs, and Dawn Capital. Citigroup's involvement in cutting-edge fintech solutions like Elwood showcases its adaptive strategy in meeting the evolving demands of the financial market.
To stay updated with Citigroup’s latest developments and performance, visit the news section for the most recent updates.
Citigroup Global Markets Holdings has announced the offering of guaranteed cash-settled exchangeable bonds due February 2030, referable to Airbus SE shares, with a principal amount between EUR 375-400 million. The bonds will be unconditionally guaranteed by Citigroup Inc.
Key features include:
- Issue price: 100-100.25% of principal amount
- Coupon rate: 0.80% per annum
- Exchange price: 35% premium over reference share price
- Minimum denomination: EUR 100,000
- Settlement date: February 5, 2025
The bonds will be listed on the Open Market segment of the Frankfurt Stock Exchange. The reference share price will be calculated based on the 3-day VWAP of Airbus shares on Euronext Paris, starting January 30, 2025. Citigroup Global Markets , Europe AG, and Inc. are acting as Joint Global Coordinators and Joint Bookrunners.
Citigroup has announced the complete redemption of its Series V Preferred Stock, totaling $1.5 billion in aggregate liquidation preference. The redemption will occur on January 30, 2025, with holders receiving a cash redemption price of $1,000 per Depositary Share. Stockholders of record as of January 17, 2025, will receive a final semi-annual dividend of $23.50 per Depositary Share on the redemption date.
This strategic move aligns with Citigroup's liability management strategy and aims to enhance the efficiency of its funding and capital structure. The decision was based on various factors, including economic value, regulatory changes, potential impact on net interest margin, borrowing costs, and overall market conditions. After the redemption date, the Depositary Shares will cease to be outstanding, and no further dividends will accrue.
Citigroup has announced the complete redemption of its €451,934,000 4.25% Fixed Rate/Floating Rate Subordinated Notes due 2030. The redemption is scheduled for February 25, 2025, with the cash redemption price equaling par value plus accrued and unpaid interest up to the redemption date.
This strategic move aligns with Citigroup's liability management strategy and ongoing efforts to optimize its funding and capital structure. The decision to redeem these notes was based on multiple factors, including economic value, regulatory changes, potential impact on net interest margin, borrowing costs, debt portfolio tenor, capital impact, and market conditions.
After the redemption date, the notes (ISIN: XS0213026197) will cease to accrue interest, with Citibank, N.A. serving as the paying agent.
Citi Issuer Services has completed the settlement of the Climate Investment Funds (CIF) Capital Market Mechanism (CCMM)'s first bond issuance. The 3-year bond raised US$500 million to support the Clean Technology Fund (CTF) in scaling up low-carbon technologies.
Citi acted as Note Trustee, Principal Paying Agent, and Calculation Agent for CCMM's borrowing program, which was listed in November 2024. CCMM, established in July 2024 and rated AA+ by Fitch and Aa1 by Moody's, raises private sector capital through bond issuances to support clean technologies in low- and middle-income countries, including renewable energy, energy efficiency, and clean transport.
Projects are financed through six implementing multilateral development banks, with the World Bank serving as CTF Trustee and Treasury Manager for CCMM.
Citigroup has announced the release of its fourth quarter and full-year 2024 financial results. The company has made the detailed results available on its website, along with a Quarterly Financial Data Supplement containing additional financial statistics, business-related information, and segment trends.
Citi has scheduled a conference call and live webcast to discuss these results. The company maintains its position as a leading banking partner for institutions with international operations, while also serving as a global wealth management leader and personal bank in the United States. Citi's operations span across more than 180 countries and jurisdictions, offering a comprehensive range of financial products and services to corporations, governments, investors, institutions, and individuals.
Citigroup has announced its quarterly dividend declarations for both common and preferred stock. The company will pay a quarterly dividend of $0.56 per share on common stock, payable on February 28, 2025, to stockholders of record on February 3, 2025.
The board also declared dividends on multiple series of preferred stock, with rates ranging from 3.875% to 7.625%. These preferred stock dividends will be paid on various dates in early 2025, with most payments scheduled for February 18, 2025. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will receive payments ranging from $9.6875 to $31.25 per receipt.
Citi Wealth has released its Wealth Outlook for 2025, titled Growth Amid Discord: Strategies for a “Rule-Breaking” Expansion. The report forecasts a global GDP growth of 2.9% in 2025 and 2026, up from 2.6% in 2024, with the U.S. predicted to grow by 2.4% in 2025.
The report advises investors to maintain fully invested core portfolios while being cautious of over-concentration. While U.S. large-cap equities' outperformance has reduced future returns, smaller cap U.S. growth and international markets present new opportunities. Potential risks include geopolitical tensions, trade wars, and unsustainable U.S. growth.
Citi Wealth also highlights four transformative trends: AI adoption, climate technology investment, healthcare advancements, and the U.S.-China strategic rivalry. The report identifies ten opportunistic positions for investors, including semiconductor equipment, biotechnology, and Brazilian equities.
Citi has released a new report titled 'Treasury 2030: Modernize or Risk Irrelevance' highlighting the untapped potential of corporate treasury functions. The research reveals that while treasury departments are currently underfunded in technology and resources, they have a unique opportunity to create value through emerging technologies like Artificial Intelligence and Digital Assets. The report emphasizes the need for corporate treasurers to move beyond incremental improvements and adopt proactive strategies through broader partnerships and collaboration to enable real-time treasury operations. According to Stephen Randall, Global Head of Liquidity Management Services at Citi, high-performing treasuries must invest in technology, talent, and partnerships to become key contributors to company growth.
Citi and Bank of Shanghai have launched an innovative payments solution on Bank of Shanghai's TourCard, designed to provide international travelers with an efficient CNY payment system in China. The service utilizes Citi's USD Clearing solution and full-value transfers, enabling travelers to add funds to their TourCard digital account. The TourCard, valid for 90 days, allows overseas travelers to make mobile payments through China-based digital wallet apps. The solution addresses challenges faced by international travelers, including credit card acceptance issues and high FX charges. Citi's USD Clearing service operates 24/7 and serves over 200 financial institutions globally since 2022.
Citigroup has announced the complete redemption of its $1 billion 1.281% Fixed Rate / Floating Rate Notes due 2025. The redemption date is set for November 3, 2024, with payment scheduled for November 4, 2024. The redemption price will equal par plus accrued and unpaid interest. This action aligns with Citigroup's liability management strategy and its efforts to optimize funding and capital structure efficiency. The company will continue evaluating opportunities for security redemptions based on factors including economic value, regulatory changes, capital impact, and market conditions.
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