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.
Citi Global Perspectives & Solutions has published a report titled “ELIMINATING POVERTY.” The study reveals that extreme poverty is up to six times worse than previous measures indicated. By employing multidimensional poverty indices, the report provides insights on where investments can most effectively combat poverty, with potential economic benefits exceeding $1.6 trillion annually.
CitiDirect®, the online and mobile banking platform of Citi, has been ranked as a top online portal for the sixteenth consecutive year in Coalition Greenwich’s 2021 Digital Banking Benchmarking study. This study evaluates over 50 features and acknowledges Citi's leadership in digital banking capabilities. Key growth metrics for 2021 include a 96% increase in digital account openings and a 38% rise in transaction flows via digital channels. Citi continues to invest in technology to enhance user experience and support complex multinational treasury needs.
Citi Retail Services and ExxonMobil have announced an extension of their partnership and the launch of the new Exxon Mobil Smart Card+. This upgraded credit card offers up to
Citi successfully partnered with five Black-owned firms to syndicate a $2.5 billion bond issuance, underscoring its commitment to racial equity. The funds will support the construction and preservation of affordable housing for low- and moderate-income Americans. As part of the Action for Racial Equity initiative, Citi has already invested $1 billion towards closing the racial wealth gap. This bond issuance, priced on January 18 and settled on January 25, signifies Citi's leadership in affordable housing lending, having been the top lender in the U.S. for the past 11 years.
Brooks Brothers and Citi Retail Services have announced a multi-year extension of their consumer credit card partnership, initially established in 2015. This renewal aims to enhance omnichannel engagement and strengthen customer relationships. Brooks Brothers CEO, Ken Ohashi, noted that the partnership has been vital for growth in their payment offerings. Citi's Business Head, Leslie McNamara, emphasized their shared commitment to innovation in creating next-gen commerce solutions. This agreement reflects a strategic collaboration between two established American brands.
Citi has announced plans to refurbish its London headquarters, Citi Tower, in
Citi and Bloomberg have announced a new integration of Bloomberg's BSKT service with Citi's ACES platform, enhancing services for ETF clients focusing on fixed income. This collaboration aims to streamline ETF creation and redemption processes, improving efficiency and reducing costs. Citi's commitment to growing its ETF servicing business is highlighted, showcasing its advanced technology and global expertise. As of Q3 2021, Citi manages approximately $29.9 trillion in assets, positioning itself as a leading provider of ETF services.
A survey conducted by Boston University's Initiative on Cities revealed that most U.S. mayors feel accountable for addressing homelessness yet believe they lack control over the crisis. Key barriers include insufficient funding (79%), public opposition to new housing (63%), and inadequate staffing, with over a quarter having no dedicated staff for homelessness. Only 40% define success as reducing homelessness, with many focusing on better housing or addressing resident complaints. The report underscores the need for improved coordination and more funding to tackle this complex issue.
Citi has announced its fourth quarter 2021 earnings, which can be accessed on its investor website. The bank operates globally with around 200 million customer accounts across 160 countries, providing a variety of financial services including consumer banking, corporate and investment banking, and wealth management. A conference call regarding the earnings will take place today at 11:00 AM ET, with additional information and financial results available online.
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