Citigroup Inc Stock Price, News & Analysis

Citi has been recognized as the World’s Best Foreign Exchange Bank by Global Finance magazine, highlighting its leadership in the foreign exchange market. The bank also secured several awards, including Best Bank Foreign Exchange Trading Technology and multiple country honors in Argentina, Mexico, the U.S., and Uruguay. Citi's strong global network allows it to offer top-tier FX solutions and maintains its competitive edge through technology and market insights. These accolades reaffirm Citi's commitment to providing exceptional services to its clients.

Citi has teamed up with Google to launch the Citi Plex Account, set to debut on Google Pay in 2021. This digital checking and savings account aims to simplify money management for users. Key features include no monthly fees, no minimum balance requirements, and instant debit card accessibility. The account is designed for a user-friendly experience within Google Pay, offering AI-powered insights for financial wellness. Consumers can sign up for a waitlist starting today, as Citi seeks to expand its digital banking footprint and attract a new generation of customers.

Citi announced the retirement of Chairman Tatsuo Tanaka effective December 31, 2020. He will be succeeded by Fumiaki Kurahara, the current Vice Chairman, starting January 1, 2021. Tanaka has served Citi for eight years and brings 47 years of industry experience. He will continue as a Senior Advisor to Citi Japan. Kurahara joined Citi Japan in October 2020, previously serving as President and CEO of SMBC Trust Bank Ltd. Lee Waite, Citi Country Officer for Japan, praised Tanaka's leadership and contributions to improving governance and client relationships.

Citi's Issuer Services has been appointed as the depositary bank for Lufax Holding Ltd's American Depositary Receipt (ADR) program, enabling investors access to the platform's ADRs. The program is linked to a $2.36 billion IPO, with each ADR priced at $13.50. One ADR represents one ordinary share of Lufax, which is traded on the NYSE under the symbol 'LU'. Citi aims to leverage its global capital markets expertise to provide high-quality ADR services to Lufax's investors.

Citi has issued its first Affordable Housing Bond, totaling $2.5 billion, marking the largest social bond from a private sector issuer. This non-callable, fixed-to-floating rate note will finance the construction and preservation of affordable housing for low- and moderate-income individuals in the U.S. Citi has a strong track record, providing over $6 billion in affordable housing financing in 2019 and helping create or preserve nearly 488,000 units over the past decade. The bond aligns with Citi's broader initiatives to close the racial wealth gap and enhance ESG engagement.

A report by Citi Global Insights and Plan International highlights that achieving 100% secondary school completion rates for girls in emerging economies by 2030 could enhance GDP by an average of 10%. With a modest investment of $1.53 per girl per day, significant economic potential can be unlocked. Currently, over 130 million girls are out of school globally, with COVID-19 exacerbating the crisis. The report emphasizes the need for holistic investments in girls' education, addressing barriers such as gender-based violence and early marriage to achieve sustainable development goals.

Citi has been appointed by Abcam to serve as the depositary bank for its American Depositary Receipt (ADR) programme. Abcam, a leading supplier of life science research tools, offers American Depositary Shares (ADS) traded under the symbol 'ABCM' on NASDAQ, with each ADS representing one ordinary share. Dirk Jones of Citi expressed enthusiasm about enhancing Abcam’s investor outreach through their global equity distribution network.

The Board of Directors of Citigroup declared a quarterly dividend of $0.51 per share on common stock, payable on November 25, 2020, to stockholders of record as of November 2, 2020.

Preferred stock dividends include various rates for Series D, J, K, M, P, Q, and S, all payable in mid-November to early December 2020, with amounts ranging from $0.4296875 to $31.50.