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Citigroup Inc. - C STOCK NEWS

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.

News

Citi Develops New Digital Asset Capabilities for Institutional Clients

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Citi Treasury and Trade Solutions announces the creation of Citi Token Services for cash management and trade finance, using blockchain and smart contract technologies. Institutional clients will have access to cross-border payments, liquidity, and automated trade finance solutions on a 24/7 basis. The technology used in the pilot reduced transaction processing times from days to minutes.
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Citi GPS: Cross-Border Payments to Transform Financial Industry, Ushering Best-in-Class Experiences for Clients

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Citi's report highlights the major opportunity in the cross-border payments space, with expected growth rates in the high-single digits for innovative players. The value of cross-border payments is projected to increase from $150 trillion in 2017 to over $250 trillion by 2027. However, market share shifts will negatively impact incumbents, with almost 90% of financial institution clients believing at least 5% of market share will be lost to FinTechs. Challenges exist in responding to industry evolution, but financial institutions are focused on innovation and exploring traditional fiat currency and digital asset spaces. Key emerging technologies like AI, the Metaverse, embedded finance, and open banking have the potential to disrupt cross-border payments. Client experience is a key focus, with a need to revamp front ends and prioritize speed, cost-efficiency, and transparency. Overall, the report presents a positive outlook for players in the cross-border payments space, but incumbents will face challenges and competition from FinTechs.
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Citi to Become First Digital Custodian on BondbloX Bond Exchange

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Citi Securities Services becomes first digital custodian participant of BondbloX Bond Exchange (BBX)
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Citi Launches Suite of Auto-Enabled Payment Solutions for Financial Institutions

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Citi Treasury and Trade Solutions launches new payment solutions for FI clients, including extending USD Clearing for commercial payments, providing transparency on deducted fees, initiating payments in over 70+ currencies, and accessing Swift Go benefits.
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Citi Aligns Organizational Structure With Its Strategy and Simplifies Operating Model

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Citi announces significant changes to its organizational model, streamlining management structure and enhancing client delivery. Leaders of each business will report directly to the CEO, eliminating management layers. The new model aims to increase accountability, improve decision-making, and strengthen focus on clients. The firm's geographies outside of North America will be consolidated under a common management team. A newly-created Client organization will enhance client engagement and experience. Citi is committed to delivering on its medium-term targets and transformation plan.
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Citi Selects Foro Holdings, Inc. to Scale Its Bridge built by Citi Platform via Strategic Investment and Sale

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Foro Holdings, Inc. acquires Bridge built by Citi platform, with Citi joining as an investor and providing additional capital. Bridge connects small and medium-sized businesses with lenders for business loans. Rohit Mathur and Harte Thompson named CEO and COO of Foro, respectively. Tasnim Ghiawadwala, Global Head of Citi Commercial Bank, joins Foro's Board of Directors.
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Citi Makes Strategic Investment in Rextie, Peru’s Leading Fintech for FX Services

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Citi makes strategic investment in Rextie, Latin America's first FX fintech to receive investment from a major bank. Integration of Citi's FX technology will provide Rextie's clients with faster service and competitive rates. Rextie expects to surpass $7 billion exchanged by end of 2024. Rextie to focus on attracting more small and medium-sized businesses.
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Citi Simplifies Retail Banking to Help Customers Achieve Their Financial Potential

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Citi's U.S. Retail Bank introduces simplified banking, retiring account packages and introducing Relationship Tiers. New customers benefit immediately, existing customers to be converted in 2024. Relationship Tiers provide access to enhanced benefits and services based on account balance. Streamlined fees and removal of retail banking fees. Family Linking allows combining balances with eligible family members. Depository products offered by Citibank, N.A. Member FDIC.
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Citi Survey Shows Challenges Ahead from Accelerated Settlements

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Citi's whitepaper highlights that accelerated settlement is a major focus for market participants, with 77% expecting a significant impact on their business. Cash, funding, and liquidity management are identified as the main obstacles to achieving a shortened settlement cycle. Additionally, 80% of market participants anticipate a notable impact on their securities lending and borrowing business. The whitepaper also reveals growing interest in Distributed Ledger Technology (DLT) and digital asset initiatives, with 74% of respondents engaging in these initiatives. Furthermore, there is a belief that digital money, such as CBDCs and stable coins, is maturing quickly and seen as a viable means to support securities settlement by 87% of respondents. Overall, the whitepaper emphasizes the need for innovation, automation, and efficiency in global operating models.
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Citi Raises Base Rate

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FAQ

What is the current stock price of Citigroup (C)?

The current stock price of Citigroup (C) is $69.84 as of November 22, 2024.

What is the market cap of Citigroup (C)?

The market cap of Citigroup (C) is approximately 132.1B.

What is Citigroup Inc.?

Citigroup Inc. is an American multinational investment bank and financial services corporation, headquartered in New York City.

What are the primary segments of Citigroup's operations?

Citigroup's operations are organized into five segments: services, markets, banking, US personal banking, and wealth management.

What services does Citigroup provide?

Citigroup provides cross-border banking for multinational corporations, investment banking, trading, and credit card services in the US.

What recent achievements has Citigroup made?

Citigroup-backed Elwood Technologies was recently authorized by the UK Financial Conduct Authority to provide institutional-grade access to digital asset exchanges.

Who are some of Citigroup's key partners?

Some of Citigroup's key partners include Barclays, Goldman Sachs, and Dawn Capital.

What is the financial condition of Citigroup?

Citigroup maintains robust financial performance with a diverse portfolio and significant partnerships.

What is Elwood Technologies LLP?

Elwood Technologies LLP is a Citi-backed fintech providing institutional-grade digital asset trading platforms and was recently authorized by the UK FCA.

How many countries does Citigroup operate in?

Citigroup operates in more than 100 countries and jurisdictions.

When was Citigroup formed?

Citigroup was formed in 1998 by the merger of Citicorp and Travelers Group.

Where is Citigroup's headquarters located?

Citigroup's headquarters is located in New York City.

Stock C logo
Citigroup Inc.

NYSE:C

C Rankings

#97 Ranked by Market Cap
#943 Ranked by Dividends

C Stock Data

132.14B
1.83B
3.12%
73.89%
1.61%
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