Citigroup Inc. reports developments across a global banking franchise that serves corporations, governments, investors, institutions and individuals in more than 180 countries and jurisdictions. Recurring updates include quarterly results, financial data supplements, segment reporting changes and business activity in Services, Markets, Banking, Wealth and U.S. personal banking.
Citi news also covers capital actions such as common and preferred stock dividends, senior note tender offers and other debt-market transactions. Additional company updates include wealth-management programs, issuer services and depositary receipt mandates handled through Citibank N.A. and related Citi businesses.
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Citigroup will release its fourth quarter and full year 2022 earnings today. The press release and the Quarterly Financial Data Supplement can be accessed on Citigroup's website. A conference call is scheduled for 11:00 AM ET, with a live webcast available for attendees. Citigroup is a global banking leader, offering a range of services to institutions and individuals in nearly 160 countries. For further information, visit their official site or follow them on social media platforms.
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.
Citi has been appointed by Nordea Bank as the new depositary bank for its Level 1 American Depositary Receipt (ADR) program, trading under the symbol 'NRDBY'. Each ADR corresponds to one ordinary share of Nordea, which is actively traded on multiple Nordic exchanges under the symbol 'NDA'. Dirk Jones, Citi’s Global Head of Issuer Services, expressed confidence in Citi's capabilities to enhance the ADR program’s success and investor relations, leveraging Citi’s global reach and expertise.
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.