Citigroup Inc Stock Price, News & Analysis

Citi Wealth has released its Wealth Outlook for 2025, titled Growth Amid Discord: Strategies for a “Rule-Breaking” Expansion. The report forecasts a global GDP growth of 2.9% in 2025 and 2026, up from 2.6% in 2024, with the U.S. predicted to grow by 2.4% in 2025.

The report advises investors to maintain fully invested core portfolios while being cautious of over-concentration. While U.S. large-cap equities' outperformance has reduced future returns, smaller cap U.S. growth and international markets present new opportunities. Potential risks include geopolitical tensions, trade wars, and unsustainable U.S. growth.

Citi Wealth also highlights four transformative trends: AI adoption, climate technology investment, healthcare advancements, and the U.S.-China strategic rivalry. The report identifies ten opportunistic positions for investors, including semiconductor equipment, biotechnology, and Brazilian equities.

Citi has released a new report titled 'Treasury 2030: Modernize or Risk Irrelevance' highlighting the untapped potential of corporate treasury functions. The research reveals that while treasury departments are currently underfunded in technology and resources, they have a unique opportunity to create value through emerging technologies like Artificial Intelligence and Digital Assets. The report emphasizes the need for corporate treasurers to move beyond incremental improvements and adopt proactive strategies through broader partnerships and collaboration to enable real-time treasury operations. According to Stephen Randall, Global Head of Liquidity Management Services at Citi, high-performing treasuries must invest in technology, talent, and partnerships to become key contributors to company growth.

Citi and Bank of Shanghai have launched an innovative payments solution on Bank of Shanghai's TourCard, designed to provide international travelers with an efficient CNY payment system in China. The service utilizes Citi's USD Clearing solution and full-value transfers, enabling travelers to add funds to their TourCard digital account. The TourCard, valid for 90 days, allows overseas travelers to make mobile payments through China-based digital wallet apps. The solution addresses challenges faced by international travelers, including credit card acceptance issues and high FX charges. Citi's USD Clearing service operates 24/7 and serves over 200 financial institutions globally since 2022.

Citigroup has announced the complete redemption of its $1 billion 1.281% Fixed Rate / Floating Rate Notes due 2025. The redemption date is set for November 3, 2024, with payment scheduled for November 4, 2024. The redemption price will equal par plus accrued and unpaid interest. This action aligns with Citigroup's liability management strategy and its efforts to optimize funding and capital structure efficiency. The company will continue evaluating opportunities for security redemptions based on factors including economic value, regulatory changes, capital impact, and market conditions.

Citi has launched Citi Digital Bill (CDB), a new integrated digital bill discounting solution that modernizes traditional trade finance practices. The solution eliminates physical documentation needs and reduces receivables monetization time from weeks to under an hour. CDB operates through Citi's proprietary platform CitiDirect, enabling digital signing, acceptance, and financing of bills. The platform streamlines processes, reduces operational risks, and improves transparency for both buyers and sellers. Currently available in the US, UK, and Ireland, CDB is planned for expansion to additional countries in 2024.

Citigroup has declared its quarterly dividend payments for common and preferred stockholders. Common stockholders will receive $0.56 per share, payable on November 22, 2024, for holders of record as of November 4, 2024. The company also announced dividend payments for nine series of preferred stock (Series P, W, X, Y, Z, AA, BB, CC, and DD), with rates ranging from 3.875% to 7.625%, all payable in November 2024. Each preferred stock depositary receipt represents one-twenty-fifth of a full preferred share.

Citigroup (C) has released its third quarter 2024 financial results, which are now available on the company's investor relations website. The report includes a Quarterly Financial Data Supplement providing additional financial, statistical, and business-related information, along with business and segment trends. Citi will host a conference call at 11 a.m. (ET) to discuss these results, with a live webcast available for interested parties. A replay and transcript of the webcast will be made available shortly after the event.

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. The company operates in over 180 countries and jurisdictions, offering a wide range of financial products and services to corporations, governments, investors, institutions, and individuals.

Citigroup Inc. (NYSE: C) and Apollo (NYSE: APO) have announced a landmark $25 billion private credit, direct lending program in North America, with potential for global expansion. The program includes participation from Mubadala Investment Company as Apollo's strategic partner and Apollo's subsidiary, Athene. This strategic initiative aims to enhance access to private lending capital for corporate and sponsor clients, combining Citi's banking expertise with Apollo's extensive capital base.

The program is expected to finance approximately $25 billion of debt opportunities over the next several years, covering both corporate and financial sponsor transactions. Citi and Apollo anticipate strong client demand and maintain flexibility to expand the program's size beyond the initial $25 billion. This collaboration is designed to provide clients with a range of innovative, private financing solutions to meet their evolving needs and strategic goals.

EVPassport CEO Hooman Shahidi is set to speak at the 2024 Concordia Annual Summit in New York City during UN General Assembly week, September 23-25. The summit brings together public and private sector leaders to discuss global challenges.

Shahidi will participate in a panel discussion titled 'Building Tomorrow: Innovating with Tech and Investment for a Sustainable Legacy' on Tuesday, September 24, at 9:30 A.M. ET. The panel will explore how long-term investment and technology can drive societal impact and sustainability.

The discussion will focus on AI-driven solutions, smart EV charging stations, and other technologies that meet consumer demands while integrating sustainability. Joining Shahidi on the panel will be executives from Citi and Siemens, among others.

EVPassport, a global EV charging network, aims to revolutionize the electric vehicle charging industry with market-driven solutions for sustainable infrastructure.