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.
Citibank, N.A. has announced the complete redemption of its $1.3 billion 2.850% Notes and $1.25 billion Floating Rate Notes, both maturing in February 2021. The redemption will take place on January 12, 2021, at par plus accrued interest. This move aligns with Citibank's liability management strategy, aimed at enhancing funding efficiency and capital structure. The bank will continue evaluating opportunities for security redemptions or repurchases based on economic value, regulatory factors, and market conditions, effective immediately after the redemption date.
The Federal Reserve Board has announced an extension until March 31, 2021, for notifying Citigroup regarding its Stress Capital Buffer recalculation. During Q1 2021, Citi is authorized to make certain capital actions not exceeding the average net income from the last four quarters. CEO Michael Corbat emphasized Citi's resilience amid uncertainties, committing to support economic recovery while continuing planned capital actions, including quarterly dividends of $0.51 per share and potential share repurchases subject to conditions.
Citi has expanded its ETF Fund Services by supporting the launch of the first actively managed SPAC ETF, the SPAC and New Issue ETF (NYSE:SPCX), on December 16. This new ETF provides investors with exposure to a diverse portfolio of SPACs and traditional IPOs. Tuttle Tactical Management, the issuer, chose Citi for its top-tier ETF services and SPAC underwriting capabilities. With over $24.9 trillion in assets under custody, Citi aims to deliver innovative ETF solutions.
Citi (NYSE: C) has introduced the Citi Fleet Card, a mobile-first solution designed to revolutionize the fuel card industry. Combining a contactless card and a mobile app from The Miles Consultancy, it allows usage at any Visa/Mastercard outlet, enhancing mileage tracking and reporting.
Available in 24 countries, the card simplifies the process for company car drivers, eliminating the need for multiple fuel cards and reducing fuel consumption. It offers automated reporting and integrates seamlessly with clients' ERP systems, streamlining fleet management.
Citigroup will release its fourth quarter results on January 15, 2021, at 8:00 AM ET, followed by a live webcast at 11:30 AM ET. The press release, along with presentation materials, will be accessible on its investor relations website. Interested parties can join the teleconference by dialing specified numbers, with a replay available for a week following the event. Citigroup serves approximately 200 million customer accounts across over 160 countries, offering a wide range of financial products and services.
Citi Private Bank's Outlook 2021 highlights a new economic cycle post-COVID, identifying strong investment opportunities as the economy rebounds. The report underscores the resilience shown in 2020, with key drivers including robust financial institutions, effective government stimulus, and technological advancements. Citi anticipates shifts in asset valuations, particularly benefiting sectors like financials, industrials, and hospitality. The bank advises against holding excess cash, urging clients to fully invest based on their long-term needs. The report can be accessed on the Citi Private Bank website.
Citi has been appointed by Dimensional Fund Advisors to provide securities services for a new line of actively managed, transparent ETFs, with the first two launching on November 18. Citi will deliver fund administration, global custody, transfer agency, and agency securities lending services. This partnership expands a relationship that dates back to 1997, enhancing Dimensional's ETF offerings, including three core equity ETFs. Citi's new ETF Order Portal will facilitate orders for the ETFs, underlining their commitment to advanced ETF services.
Citi has announced a record donation of $9.4 million to education-focused non-profits as part of its 2020 e for education campaign, marking the highest annual contribution since the initiative's inception in 2013. The campaign has raised a total of $47 million, supporting over 606,000 youth and benefiting 530 schools across 32 countries. The initiative aims to tackle childhood illiteracy and improve educational access globally.
Mark Mason, CFO of Citi, will present at the Goldman Sachs 2020 U.S. Financial Services Conference on December 9, 2020, starting at approximately 3:20 p.m. Eastern. The event will be held virtually, and a live webcast is accessible at www.citigroup.com/citi/investor. A replay and transcript will be available shortly after the presentation.
Citi operates globally with about 200 million customer accounts across 160 countries, offering diverse financial products and services.
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