Citigroup Inc. - C STOCK NEWS

Citi's Treasury and Trade Solutions has enhanced its Present and Pay platform for U.S. institutional billers, introducing new features like Citi Verify for real-time account validation and Request for Pay (RfP) messaging for e-bill distribution. These enhancements aim to improve the customer experience by allowing real-time payments and compliance with new regulations. With these capabilities, clients can streamline operations, access working capital, and provide consumers with greater payment flexibility. The initiative relies on partnerships with billing service providers, enhancing Citi's service offerings.

The Citi Foundation has announced $25 million in unrestricted grants for 50 nonprofit organizations through its Community Progress Makers initiative. Each selected organization will receive $500,000 to promote social and economic opportunity in underserved communities across six U.S. cities: Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area, and Washington, D.C. This funding aims to address income inequality and enhance community support.

Citi Global Wealth Investments has released its Outlook 2022 report, which forecasts a normalization of economic conditions following the pandemic's strong recovery phase. The report emphasizes the need for investors to adjust portfolios by focusing on 'long-term leaders' in high-quality companies, suggesting potential for 8% earnings growth in 2022. Citi warns of risks including COVID-19 mutations and geopolitical tensions, while highlighting trends in digitization and economic shifts towards Asia. The report offers insights into maintaining wealth amid negative real interest rates.

Citi has expanded its Cross-Currency Sweeps cash management solution to 14 additional European countries, enhancing treasurers' ability to manage FX and cash positions across multiple currencies efficiently.

This service automates the conversion of available liquidity into the desired currency, facilitating same-day settlements and seamless fund movements. It aims to address manual processes in liquidity management, offering improved efficiency and transparent cash management strategies.

Citi has been appointed as the successor depositary bank for PAO Severstal's Global Depositary Receipt (GDR) program, which is listed on the London Stock Exchange under the symbol 'SVST'. Each GDR represents one ordinary share of Severstal, also traded on the Moscow Exchange under the symbol 'CHMF'. Sberbank of Russia will serve as the custodian for local underlying shares. Dirk Jones from Citi expressed enthusiasm for the partnership, emphasizing support for Severstal’s investor outreach and the utilization of Citi’s global equity distribution network.

Citi (NYSE:C) and Taskize Limited have entered a strategic agreement enabling Citi Securities Services' custody clients to utilize Taskize's query management platform, enhancing operational workflows. This collaboration leverages Taskize's structured workflow capabilities with Citi's custody network across over 60 markets. The partnership aims to improve query management, replacing traditional email methods with real-time visibility and audit trails, while maintaining data sovereignty. This development underscores Citi's commitment to innovative solutions and risk mitigation for its clients.

Mark Mason, Chief Financial Officer of Citi, will present at the 2021 Goldman Sachs U.S. Financial Services Conference on December 8, 2021, starting at approximately 3:00 p.m. (Eastern). The event will include a live webcast available at www.citigroup.com/citi/investor, with a replay and transcript accessible afterward. Citi, a leading global bank, serves around 200 million customer accounts across more than 160 countries, offering a wide range of financial products and services.

Citi has been recognized as the World’s Best Digital Bank by Global Finance for the 20th consecutive year, reflecting its robust digital solutions and innovative services that assist clients in adapting to industry changes. Highlights of its digital growth include a 12% increase in CitiDirect users and a remarkable 163% rise in API usage. Citi also secured top honors across various global and regional categories, reinforcing its commitment to delivering high-quality cash management and treasury services.

Citi's annual e for education campaign has successfully raised $9.6 million in 2023, contributing to over $56 million since its 2013 launch to combat childhood illiteracy and enhance education access. The initiative expanded its partner base to 13 non-profits this year, including Asian University for Women and Pencils of Promise. Prominent figures emphasize the campaign's significant impact on empowering students globally through innovative engagement and mentoring, especially amid COVID-related challenges.