Tag: Citigroup

May 3, 2022

While the FTSE 100 was closed in London for the Bank Holiday, other European stock markets endured plunging values with Sweden’s OMX 30 falling the most – by 8% – in a matter of minutes. Citigroup said on Monday night […]

January 29, 2021

American Airlines’ stock rose earlier this week during market volatility around struggling companies, and now the airline is using the opening to sell up to $1.1 billion in new shares. American said Friday that it reached an agreement with lenders […]

October 13, 2020

Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division, as the pandemic continues to make it tough for millions of Americans and businesses to pay their bills. The New York-based bank said […]

September 15, 2020

Citigroup will resume slashing its workforce this week, joining some of its rivals including Wells Fargo (WFC) – Get Report that are now reducing headcount in a bid to rein in costs ahead of what is anticipated to be a […]

January 15, 2020

Bank of America (BAC) – Get Report posted better-than-expected fourth-quarter earnings Wednesday as loan growth offset narrowing interest rate margins at the consumer-focused lender. Bank of America said earnings for the three months ending in December came in at 74 […]

February 13, 2019

Last month, Wall Street’s major banks celebrated robust quarterly earnings virtually across the board. Even before Morgan Stanley disclosed comparatively disappointing numbers, the likes of Goldman Sachs, JP Morgan Chase, Citigroup, Bank of America, and Wells Fargo combined to report […]

January 14, 2019

Citigroup Inc. (C – Get Report) , the third-biggest U.S. bank, posted a fourth-quarter profit that beat analysts’ estimates, with CEO Michael Corbat cutting costs as revenue slid. Net income was $4.3 billion, the New York-based bank said Monday in […]

April 25, 2017

Global banking stocks rallied after it was announced Sunday that centrist Emmanuel Macron will advance in the French election to take on Marine Le Pen, a far-right candidate. Investors rushed into bank stocks, fleeing safe havens like government bonds and […]

April 14, 2017

Citigroup (C) said Thursday that net income surged 17% during the first quarter, as market optimism over President Donald Trump’s tax-cutting and deregulatory proposals drove a frenzy of bond and stock trading. Net income was $4.1 billion, or $1.35 a share, […]

April 5, 2017

The financial sector kicked into high gear at the end of 2016, but it’s posted a much less impressive performance this year, with the Financial Select Sector SPDR ETF (XLF) up all of just 1.4% since the calendar flipped to January. […]

March 17, 2017

IF YOU ask financial types in New York for their views on the world’s big banks, they usually come up with similar vignettes for each one. They agree that JPMorgan Chase is an unstoppable force under its boss, Jamie Dimon. […]

January 20, 2017

Citigroup’s acquisition of Costco’s co-branded credit card portfolio from Amex in June 2016 continues to pay off. In its Q4 2016 earnings release, Citi posted 8% overall revenue growth on a constant-currency basis. The Costco portfolio appears to be a […]

January 9, 2017

Dismantling the Dodd-Frank Act, which tightened rules on the banking industry after the 2008 financial crisis but had the side effect of curbing growth, is a top priority for both Republicans on Capitol Hill and President-elect Donald Trump. Cancelling thousands of pages […]

August 2, 2016

They get ’em coming and going. As oil traded above $100 a barrel earlier this decade, JPMorgan Chase  (JPM) ,Citigroup  (C)  and other U.S. banks doled out more than $110 billion of loans to finance a drilling boom — all […]

February 19, 2016

Citigroup raised Chief Executive Michael Corbat’s pay by an estimated 27% in 2015, a year in which the bank’s profit more than doubled. Corbat earned an estimated $16.5 million in 2015, including deferred shares worth about $4.5 million. He earned […]

December 10, 2015

Wall Street has tamped down stock market expectations in 2016 for a variety of reasons. Less accommodative monetary policy, slow growth and geopolitical concerns only get the ball rolling. There’s a whole slew of reasons why the year ahead may […]