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) generates frequent news across institutional banking, wealth management, U.S. personal banking and capital markets activities. Citi describes itself as a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in the United States, doing business in more than 180 countries and jurisdictions. News about Citigroup often centers on its financial performance, strategic decisions and product developments that affect corporations, governments, investors and individual clients.
Investors following C stock can expect earnings-related updates, such as quarterly and full-year results announced via press releases and discussed on investor conference calls, as well as accompanying financial data supplements. Corporate actions and capital decisions, including common and preferred stock dividends, new preferred stock series and redemptions of existing preferred stock and depositary shares, are also common themes in Citi’s news flow.
Citi’s strategic and operational news includes changes in senior leadership roles, adjustments to the structure of its core businesses, and actions involving legacy franchises, such as plans to sell remaining operations in certain markets or equity stakes in international financial groups. The firm also issues updates on its digital asset and payments initiatives, including Citi Token Services and collaborations with partners like Coinbase to develop digital asset payment capabilities for institutional clients.
For those tracking developments in wealth management and consumer banking, Citi releases commentary on macroeconomic and market views through its wealth business and highlights recognition in areas such as mortgage origination satisfaction. Regularly reviewing Citigroup news can help market participants understand how the company’s strategic choices, capital actions and product innovations may influence its operations and risk profile over time.
Citi has released its Global Perspectives & Solutions report titled Supply Chain Finance: Uncertainty in Global Supply Chains Is Going to Stay. The findings highlight ongoing disruptions in global supply chains amid stabilizing trade and cooling demand. The Citi Global Supply Chain Pressure Index shows easing pressures due to decreased consumer demand, but recession risks loom. Natural Resources and Clean Energy trade flows surged 65% amid rising energy prices. A survey of 2,327 global corporates revealed themes such as rising prices, the need for supply chain resilience, and a shift in focus from just-in-time to just-in-case strategies.
Citigroup's Board of Directors declared a quarterly dividend of $0.51 per share on its common stock, payable February 24, 2023, to shareholders of record as of February 6, 2023. Additionally, dividends for various preferred stock series were announced, including payments for Series A, B, J, K, T, U, V, W, X, and Y, with corresponding payment dates ranging from January 30, 2023 to March 30, 2023. These dividends highlight Citigroup's commitment to returning value to its investors.
Citi’s Issuer Services has been appointed as the Depositary Bank for Jiangsu Eastern Shenghong Co., Ltd.'s Global Depositary Receipt (GDR) Program, part of the China-Swiss Stock Connect.
This program raised US$718.3 million with an initial pricing at US$18.05 per GDR, marking the largest Swiss Connect GDR program in Citi's history.
Shenghong operates in the energy and chemical sector, focusing on new energy and low-carbon green industries.
Citi Velocity has been recognized as the no. 1 platform for Web-Based Analytics by Institutional Investor for the fourth consecutive year, reflecting its prominence among institutional clients. According to the press release, the platform saw a 51% increase in client views of webcasts in 2022, and a 45% rise in consumption of inflation-related data. Over 200,000 clients and 60,000 colleagues engaged with the platform, which offers extensive resources including trading desk commentary and cross-asset market research.
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Citigroup will release its fourth quarter results on Friday, January 13, 2023, at approximately 8 a.m. ET. A live webcast and teleconference will follow at 11 a.m. ET for an in-depth review. The press release, webcast, and presentation materials can be accessed at Citigroup Investor Relations. For participation via phone, U.S. and Canada callers can dial (800) 343-1703, while international callers should use (785) 424-1226.
Citi Global Wealth Investments predicts a shallow recession in 2023, leading to the weakest global economic growth in 40 years outside of previous crises. The report highlights a declining earnings per share by 10% and a potential recovery in Chinese growth. US inflation is expected to ease to 3.5%, with the Federal Reserve likely cutting interest rates in the latter half of the year. The report advises investors to remain fully invested and look for opportunities in US fixed income and defensive equities while preparing for a market recovery in 2024.
Jane Fraser, CEO of Citi, will present at the Goldman Sachs 2022 US Financial Services Conference on December 7 at 11:20 a.m. (Eastern). A live webcast is available at Citi Investor Relations. A replay and transcript will follow the event.
Citi operates in over 160 countries, offering a wide range of financial services to corporations, governments, and individuals. For more information, visit www.citigroup.com.
Citi's Issuer Services has been appointed as the Depositary Bank for Sunwoda Electronic and Hangzhou GreatStar's Global Depositary Receipt (GDR) programs under the China-Swiss Stock Connect. Sunwoda's GDR program raised US$440 million with an offering price of US$15.30, while GreatStar's program raised US$155 million at US$13.08 per GDR. Each GDR represents five A shares. This milestone enhances Sunwoda's globalization strategy and GreatStar's access to global markets, demonstrating strong investor support for Chinese firms in the new energy sector.
AT&T and Citi have launched the new AT&T Points Plus Card, a no annual fee credit card aimed at rewarding wireless customers. The card allows cardmembers to earn up to $240 annually in statement credits for their AT&T wireless bills after eligible spending. Customers earn 3 ThankYou Points per dollar spent at gas stations, 2 Points at grocery stores, and 1 Point on other purchases. New cardholders can also receive a $100 bonus after spending $1,000 within the first three months.