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 has partnered exclusively with four Black-owned firms to facilitate a $2.5 billion bond issuance, reinforcing its commitment to racial equity in financial markets. This initiative is part of Citi's broader Action for Racial Equity program, which aims to address racial gaps and potentially add $5 trillion to U.S. GDP over five years. The bond, issued on January 21, features a fixed-to-floating rate structure. Since 2015, Citi has collaborated with over 30 minority-owned firms, issuing more than $150 billion in bonds.
Citi has expanded its investments through the Citi Impact Fund, a $200 million initiative aimed at addressing societal challenges. The fund has selected seven new companies, including Clerkie, KETOS, MedHaul, Perch, Shift, Superpedestrian, and Vyv, enhancing its portfolio to 11 companies in total. The fund focuses on workforce development, financial capability, social infrastructure, sustainability, and economic opportunity, particularly for companies led by women and minorities. This initiative underscores Citi's commitment to social impact and community development.
Citi (NYSE: C) has launched a new Dynamic Allocation and Fund Order Processing service for advisor clients. This service automates cash allocation across various funds and streamlines order processing with fund providers. Clients can send orders via standard messaging, and Citi will enhance these orders with additional details before routing them. The initiative aims to reduce errors and simplify client connections with numerous fund providers. This service complements Citi's suite of middle and back office solutions designed to enhance operational efficiency and client focus on growth.
The Board of Directors of Citigroup declared a quarterly dividend of $0.51 per share on its common stock, payable on February 26, 2021, to stockholders of record on February 1, 2021. Additionally, dividends on various preferred stocks were announced, with rates ranging from 4.000% to 7.125%. Payment dates for these dividends are scheduled between February and March 2021, benefiting shareholders holding depositary receipts. This move reflects Citigroup's ongoing commitment to providing returns to its investors.
Citi has introduced a new suite of intelligent execution algorithms for global listed derivatives, enhancing its electronic execution capabilities. These algorithms are designed specifically for the futures markets and are available across major exchanges in North America, Europe, and Asia Pacific.
The flagship algorithm, Arrival, minimizes slippage by balancing costs and price volatility. This initiative is part of a strategic investment aimed at catering to the unique microstructures of listed derivatives, while also addressing diverse client needs.
Citi will conduct its fourth quarter 2020 Fixed Income Investor Review on January 29, 2021, at 11:00 AM (ET). The event, hosted by CFO Mark Mason and Treasurer Michael Verdeschi, will be accessible via webcast and teleconference. Interested participants can dial in from the U.S. at (833) 420-0446 or from international locations at (314) 888-4603, using conference code 6450613. The bank services around 200 million customer accounts across more than 160 countries.
Citigroup has announced its fourth quarter 2020 earnings release, available on its investor relations website. The global bank serves approximately 200 million customer accounts across over 160 countries, offering a diverse range of financial services. A conference call regarding the earnings will take place today at 11:30 AM ET, with details for both live participation and telephonic replay provided. In-depth financial data is also present in a Quarterly Financial Data Supplement on their site, reflecting the company's performance and business trends.
Citi has formed a unified wealth management entity named Citi Global Wealth, integrating teams from Global Consumer Banking and the Institutional Clients Group. This new structure aims to serve clients at all wealth levels, from affluent individuals to ultra-high-net-worth clients. Jim O’Donnell will lead this organization, reporting to top executives Anand Selva and Paco Ybarra. The initiative follows a strategy by Citi’s executives to enhance wealth management as a core differentiator for increased returns, leveraging Citi's extensive offerings for clients worldwide.
Citigroup is redeeming all $1.035 billion of its Series S Noncumulative Preferred Stock and 18,600 of its Series R Fixed Rate / Floating Rate Noncumulative Preferred Stock, totaling $465 million. The Series S redemption date is February 12, 2021, with a cash redemption price of $25 per share, while Series R will be redeemed on February 16, 2021, at $1,000 per share. These actions align with Citigroup's liability management strategy aimed at enhancing funding efficiency and capital structure. Dividends will cease accruing for redeemed shares.
CitiDirect BE, Citi's online and mobile banking platform, has been recognized for the fifteenth consecutive year as the top digital banking solution in the Greenwich Associates’ 2020 Digital Banking Benchmarking study.
This survey evaluates over 50 factors across digital banking platforms. Citi’s portfolio, including CitiDirect BE Mobile and CitiConnect connectivity suite, was praised for its comprehensive capabilities, especially during the challenges posed by the Covid-19 pandemic.
Investments in innovation and co-creation with clients contributed to this accolade.
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