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.
Citigroup Global Markets Holdings Inc. (CGMHI) announced the acceleration of ten series of exchange-traded notes (ETNs). Holders will receive a cash payment based on the indicative value on October 30, 2020, with payment expected on November 4, 2020. Following the close of trading on October 19, 2020, CGMHI will waive the minimum redemption amount and early redemption charge for the ETNs. The last trading day for these ETNs is set for October 30, 2020. Other ETNs issued by CGMHI remain unaffected by this announcement.
The 10th Annual Veterans on Wall Street (VOWS) Symposium, hosted by Citi on November 9, 2020, aims to facilitate career opportunities for military veterans and their spouses. This virtual event will feature industry leaders, including General Joseph Dunford and Citi CEO Michael Corbat, discussing the importance of veteran retention in the workforce. New recruiting initiatives with WayUp will assist veterans in job searches. VOWS has raised over $10 million for the Bob Woodruff Foundation, supporting veterans' career development amidst COVID-19 challenges.
Citi will host its third quarter 2020 Fixed Income Investor Review on October 28, 2020, at 11:00 AM (ET). CFO Mark Mason and Treasurer Michael Verdeschi will present, and the event will be accessible via live webcast and teleconference. Dial-in details include US & Canada: (833) 420-0446, and International: (314) 888-4603, with a conference code of 2377384. A replay of the call will be available until November 28, 2020. Citi, a global banking leader, operates in over 160 countries, serving around 200 million customer accounts.
Citi has released its third-quarter 2020 earnings report, revealing significant business operations in over 160 countries with around 200 million customer accounts. The earnings announcement includes detailed financial and segment performance available on Citi's investor relations website. A conference call will be held today at 10:00 AM (ET) to discuss the results, with access via a live webcast. For more information, including financial data and presentation materials, visit Citi's official website.
Citi has partnered with Teach For All to enhance global education and share resources across their networks. This collaboration includes sponsoring Teach For All's annual Global Conference from October 20-22, facilitating learning experiences, and supporting initiatives to bridge education equity gaps. Citi’s commitment is reflected in its broader Pathways to Progress initiative, aimed at creating economic opportunities for underserved youth. The partnership is part of Citi's ongoing efforts to drive educational impact worldwide.
Citi’s Issuer Services has been appointed as the depositary bank for Lixiang Education Holding Co.'s American Depositary Receipt (ADR) program. This program was established alongside an initial public offering of ADRs totaling approximately $30.8 million, priced at $9.25 per ADR. Each ADR represents five ordinary shares. The ADRs are listed on NASDAQ under the symbol ‘LXEH’. Citi aims to leverage its global capabilities to enhance service quality for Lixiang Edu’s investors.
Citi expressed disappointment in response to the Consent Orders from the Federal Reserve and the Office of the Comptroller of the Currency. The bank is committed to addressing the identified issues and has ongoing multi-year remediation projects to enhance controls and governance. Over $1 billion will be invested this year towards these initiatives. Despite challenges, Citi reported growth in loans and deposits in the first half of the year, maintaining a Common Equity Tier 1 Capital ratio of 11.6% and a Liquidity Coverage Ratio of 117%. The company aims to fulfill its obligations to stakeholders.
Citi’s Issuer Services, through Citibank, has been appointed by China Yangtze Power Co (CYPC) as the Depositary Bank for its Global Depositary Receipt (GDR) program. This GDR program, linked to a US$1.82 billion IPO, prices each GDR at US$26.46, with potential total proceeds of approximately US$2.01 billion if the over-allotment option is fully exercised. The GDRs are listed under the symbol CYPC on the London Stock Exchange and represent ten A shares each. CYPC aims to enhance its international presence and further develop overseas operations.
Citi has been awarded the mandate to provide ETF services for FinEx ETF, Russia's leading ETF issuer. The agreement encompasses 13 ETFs with $600 million in assets, covering services such as custody, fund administration, and distribution support. Gareth Myburgh, EMEA ETF Services Product Manager, emphasized Citi's unique capabilities in ETF servicing. FinEx's Managing Director, Martin Bednall, noted the importance of Citi's global partnership for investor protection. This collaboration marks the rollout of Citi's advanced ETF technology, ACES, enhancing operational efficiency.
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