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Citigroup Inc News

30 Mar 2022

Citi to sell India consumer business to Axis Bank for $1.6 billion

The deal will include the transfer of about 3,600 Citi employees to Axis. Citi expects the release of about $800 million of allocated tangible common equity after the deal.

15 Mar 2018

Citigroup CEO earns 369 times average employee

Michael Corbat`s annual total compensation was $17.8 million while the median annual total compensation of all Citi employees was $48,249.

13 Oct 2017

Citi, Deutsche Bank, HSBC agree to pay $132 million to settle Libor claims

Banks use Libor to set rates on hundreds of trillions of dollars of credit card, mortgage, student loan and other transactions, and to determine the cost of borrowing from one another.

19 Dec 2015

Citi to cut 2,000 jobs starting next month: Report

The bank, due to report fourth-quarter earnings on Jan. 15, had 239,000 employees as of the end of September.

US Treasury auctions

24 Jul 2015

Lawsuit accuses 22 banks of manipulating US Treasury auctions

Primary dealers are the banks authorized to transact directly with the Federal Reserve who are big players in Treasury bond auctions and act as market makers in the secondary market.

22 Jul 2015

Citi ordered to pay $770 million over credit card practices

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

21 Jul 2015

Citibank ordered to pay $700 mln over credit card practices

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

20 Apr 2015

Citigroup CEO Michael Corbat meets PM Modi

Citigroup CEO Michael Corbat Monday called on Prime Minister Narendra Modi and is believed to have discussed economic situation and bank's India plans.

17 Apr 2015

Citi posts highest quarterly profit in eight years as costs plunge

Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank`s efforts to streamline its business may be starting to pay off.

16 Apr 2015

Citi posts highest quarterly profit in 8 years as costs plunge

Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank`s efforts to streamline its business may be starting to pay off.

07 Apr 2015

Ex-Citi exec's hedge fund delays launch over UK probe

"There has been a delay to our launch due to the FCA. We have informed our prospective investors," said Silver Ridge Asset Management cofounder Farhang Mehregani.

26 Feb 2015

Citigroup unit probed by more authorities over money laundering

Citigroup Inc said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit.

20 Feb 2015

Citigroup cut CEO Corbat's pay by 10% to $13.1 mn in 2014

Citigroup Inc cut Chief Executive Michael Corbat`s pay by about 10 percent in 2014, a year in which the bank`s profit nearly halved due to higher legal costs and a slump in bond trading.

15 Jan 2015

Citi profit plunges 86% on legal settlements

Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank`s shares down more than 4 percent.

15 Jan 2015

Citigroup profit falls on legal and restructuring charges

Citigroup Inc, in the midst of a pullback from consumer banking in a number of international markets, eked out a slim fourth-quarter profit after taking charges of $3.5 billion to settle legal claims and overhaul operations.

10 Dec 2014

Citigroup to post $2.7 bn in added legal costs in 4th quarter

Mike Corbat`s announcement at a New York investor conference was the second time in six weeks the bank has had to tack on a massive legal charge.

11 Nov 2014

Apple's enterprise assault gets into higher gear

Apple Inc is embarking on its most aggressive expansion yet onto corporate turf, hiring a dedicated sales force to talk with potential clients like Citigroup Inc and working in concert with a dozen or so developers, two sources familiar with its plans say.

31 Oct 2014

Citigroup sets aside $600 million more to cover legal costs

Citigroup Inc said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries."

15 Oct 2014

Citi pulls out of consumer banking in 11 countries, profit jumps

Citigroup Inc said it is pulling out of consumer banking in 11 markets, including Japan and Egypt, as the U.S. bank with the biggest international business looks to cut persistently high costs.

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