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) maintains its position as a global financial leader through strategic initiatives across 100+ countries. This news hub provides investors and stakeholders with essential updates spanning corporate banking innovations, market-moving developments, and regulatory milestones.
Access real-time announcements including quarterly earnings disclosures, leadership transitions, and cross-border partnership agreements. Our curated collection features verified press releases alongside analytical perspectives on wealth management trends and institutional banking strategies.
Key coverage areas include capital market activities, US consumer banking updates, and multinational risk management solutions. Track Citigroup's progress in digital transformation initiatives and sustainability-focused financial products through primary source documentation.
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Citi Commercial Bank (CCB) plans to hire 900 employees, including over 400 commercial bankers over the next three years to enhance growth in North America, Asia, and Latin America, along with entering parts of Europe. The bank aims to meet the evolving needs of mid-sized companies with annual revenues between $10 million and $3 billion. This expansion will be fueled by a sophisticated digital portal and the hiring of industry experts to provide tailored banking solutions as CCB strengthens its services and connectivity across institutional offerings.
Citi has announced that its Investor Day will be held virtually on March 2, 2022, starting at 9am ET. This decision comes after two presenters tested positive for COVID-19, prioritizing health and safety. CEO Jane Fraser expressed commitment to presenting the company's strategy and progress despite the change. The detailed agenda will be released on March 1, with access to the webcast and materials available at www.citigroup.com/citi/investor on the event day.
Citi has announced plans to eliminate overdraft fees, returned item fees, and overdraft protection fees by this Summer, setting a precedent as the only top five U.S. bank to implement such changes. This decision emphasizes Citi's commitment to financial inclusion, particularly for underserved communities. Historically, Citi has maintained lower overdraft revenues compared to competitors. The initiative is part of Citi's broader efforts to enhance consumer-friendly banking practices and support economic progress in underbanked populations.
Citigroup Inc. announces full redemption of £99.9 million of its 6.829% Fixed Rate/Floating Rate Enhanced TruPS® issued by Citigroup Capital XVIII, effective March 28, 2022. Holders will receive £1,000 per security plus approximately £2.77 in unpaid distributions. This move aligns with Citigroup's liability management strategy to enhance its funding and capital structure efficiency. The redemption also involves a concurrent action on junior subordinated debt securities. The Bank of New York Mellon acts as the paying agent.
Citi has been recognized as the Best Global Bank for Cash Management and Liquidity Management by Global Finance, alongside its Virtual Accounts solution being named the Best Global Virtual Accounts solution. The awards reflect Citi's digital solutions addressing cash management and liquidity needs amidst global challenges. Additionally, Citi garnered regional awards across Asia Pacific, Latin America, North America, and Western Europe, showcasing its strong performance in payments and collections, cash management, and liquidity management.
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.
