All articles tagged with #citigroup
U.S. bank stocks fell in morning trading as investors awaited the Trump administration’s January 20 deadline to implement a 10% cap on credit-card interest rates, with JPMorgan Chase, Citigroup and others down amid concerns about credit access and potential regulatory action.
Citigroup downgrades European equities to neutral (excluding the UK) amid worsening Brussels–Washington relations over Greenland and tariff uncertainty, trimming near-term earnings prospects, while upgrading Japan to overweight and signaling better risk‑reward outside Europe (with Emerging Markets also looking more attractive).
Citigroup CEO Jane Fraser warns that Citi’s culture needs a reset and signals more layoffs this year as automation and process simplification reshape how work gets done, with regulatory-fix programs largely complete and a push toward higher profitability in 2026.
Citigroup beat Q4 expectations with adjusted EPS of $1.81 on revenue of $19.9B, led by strength in investment banking and wealth management, while a Russia exit-related charge and softer markets limited GAAP results. The bank sees 2026 net interest income ex-markets rising about 5-6% from 2025 (~$49.8B to ~$52.3B-$52.8B) and targets a 60% efficiency ratio, down from 65% in 2025. End-of-period loans rose to $752B and deposits to $1.40T.
Citigroup CFO Mark Mason said Citi supports affordability but does not back President Trump’s proposed cap on credit-card fees, warning that a cap on interest rates could slow the U.S. economy and restrict credit availability, a concern echoed by other banks as Trump pushes rate/interchange caps.
Citigroup Inc. posted an 84% surge in fourth-quarter financial advisory fees and a more-than-50% rise in full-year M&A revenue to a record, outpacing JPMorgan’s growth and signaling Citi’s narrowing gap in dealmaking under CEO Jane Fraser.
Citigroup beat Q4 2025 estimates with adjusted EPS of $1.81 on $21.0B revenue; GAAP net income fell 13% to $2.47B ($1.19 per share) due to a $1.1B after-tax charge from divesting Russian operations, but excluding the charge profit would be about $3.6B ($1.81 per share). Revenue outside the Russia charge rose 8% as banking, wealth and institutional services grew. The bank is pursuing CEO Jane Fraser’s restructuring of overseas assets, with momentum watched for 2026 as peers report results.
The US regulator has eased some compliance requirements for Citigroup, potentially reducing regulatory burdens on the bank.
Big U.S. banks JPMorgan Chase, Wells Fargo, and Citigroup are set to report their earnings tomorrow, a key event for financial markets and investors. The upcoming reports are expected to provide insights into the health of the banking sector amid ongoing economic uncertainties.
After being shunned by major banks, Donald Trump's money has found a new home at Citigroup, where his son Eric Trump established a trust holding some of his assets, marking a significant shift in his banking relationships amid past financial and political controversies.
Vis Raghavan's strategic move to Citigroup has revitalized its investment banking division, positioning him as a potential successor to CEO Jane Fraser, amid significant restructuring and hiring efforts that have boosted the bank's dealmaking performance and market share.
Bank of America, Citigroup, and BlackRock are leading a $1.7 billion investment in the UK, highlighting significant financial activity by major US financial institutions in the UK market.
Citigroup is outsourcing $80 billion of client assets to BlackRock, closing its last in-house asset management operations to streamline its wealth business and focus on the mass affluent market, with the new partnership expected to enhance capabilities and expand private markets management in the future.
Citigroup is investigating complaints against its wealth-management chief, Andy Sieg, for alleged intimidating and unfair behavior, including incidents involving senior female executives. The law firm Paul Weiss has completed its inquiry, which was prompted by internal complaints and anonymous reports, amid ongoing efforts to reshape the bank's wealth division under CEO Jane Fraser. Despite the controversy, Sieg remains a key figure in Citigroup's leadership and the bank's efforts to expand its wealth business.
Citigroup is considering offering cryptocurrency custody and payment services, focusing initially on stablecoin backing assets and crypto-linked ETFs like Bitcoin and Ether, as part of its broader engagement with blockchain and crypto markets, supported by recent regulatory clarity and industry momentum.