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Citi Bank

Citi appoints K Balasubramanian as India head, subject to RBI approval

Global banking major Citi on Wednesday announced the appointment of K Balasubramanian as the head of India. Balasubramanian's appointment as the India subcontinent sub-cluster and banking head is subject to regulatory approval from the Reserve Bank of India, an official statement said, adding that he will be reporting to head of Asia South Amol Gupte. "India is one of Citi's largest markets globally where we have strong business momentum and we are confident Bala will build further on our leadership position in this key market," Gupte said. The appointment has been necessitated because incumbent Ashu Khullar has been appointed as the co-head of Global Asset Managers (GAM). Khullar will be part of the investment banking global operating committee, as per a memo from Citi's head of banking Vis Raghavan and head of international Ernesto Torres Cantu. "During Ashu's tenure from 2019-2025, Citi has recorded impressive all-round growth becoming the top investment bank across equity capi

Citi appoints K Balasubramanian as India head, subject to RBI approval
Updated On : 05 Feb 2025 | 6:31 PM IST

Citi beats estimates for Q4 profit, cuts return targets after 'critical' yr

Shares of the third-largest U.S. lender were last up 5 per cent in premarket trading on Wednesday after Citigroup said its board has authorized a new share repurchase program

Citi beats estimates for Q4 profit, cuts return targets after 'critical' yr
Updated On : 15 Jan 2025 | 8:18 PM IST

RIL shares rise 2% as Citi upgrades stock to 'buy', citing strong outlook

The US-headquartered brokerage has raised the target price for the scrip to Rs 1,530, implying an upside of over 18 per cent from the current market price

RIL shares rise 2% as Citi upgrades stock to 'buy', citing strong outlook
Updated On : 25 Nov 2024 | 10:31 PM IST

OfBusiness hires Axis, JPMorgan, Citi among other banks for 2025 Indian IPO

OfBusiness aims to seek approval for the IPO from India's market regulator between March and June

OfBusiness hires Axis, JPMorgan, Citi among other banks for 2025 Indian IPO
Updated On : 20 Nov 2024 | 1:54 PM IST

Citi pushes back on NY's online fraud lawsuit, says we're not 'bad guys'

New York's lawsuit comes as consumers are losing billions to financial fraud to scammers using more advanced tools

Citi pushes back on NY's online fraud lawsuit, says we're not 'bad guys'
Updated On : 09 Oct 2024 | 9:17 AM IST

Citi breaks banks safety rules, makes liquidity reporting errors: Report

Firm's subsequent reaction to breaches resulted in liquidity reporting inaccuracies, according to the document, which provides a 2023 year-end snapshot of some of Citi's work on regulatory issues

Citi breaks banks safety rules, makes liquidity reporting errors: Report
Updated On : 31 Jul 2024 | 10:37 PM IST

Citigroup expects India to attract $100 billion in foreign Investments

Apart from climate transition, India's forays into electronics and infrastructure-related manufacturing are gaining prominence with investors abroad, an expert said

Citigroup expects India to attract $100 billion in foreign Investments
Updated On : 19 Jul 2024 | 7:38 AM IST

India will be unable to plug jobs gap even with 7% growth, says Citigroup

Citi estimates India will need to create about 12 million jobs a year over the next decade to absorb the number of new entrants to the labor market

India will be unable to plug jobs gap even with 7% growth, says Citigroup
Updated On : 06 Jul 2024 | 12:37 PM IST

Big banks led by Citigroup continue layoffs amid pressure to cut costs

Headcount at Citi declined by 2,000 employees after the third-largest U.S. lender completed a sweeping reorganization aimed at improving profits and reducing management layers

Big banks led by Citigroup continue layoffs amid pressure to cut costs
Updated On : 16 Apr 2024 | 11:01 PM IST

Citi confirms Vashistha to continue as head of India equity capital markets

On a year-to-date basis, Citi has overseen ECM deals worth $4 billion, with a 14 per cent market share - ranking number one on the India ECM league table

Citi confirms Vashistha to continue as head of India equity capital markets
Updated On : 15 Apr 2024 | 6:47 PM IST

BJP's Sankalp Patra lacks plans for structural economic reforms, says Citi

The general election starts on April 19 and will be held in seven stages until June 1, with the results expected on June 4

BJP's Sankalp Patra lacks plans for structural economic reforms, says Citi
Updated On : 15 Apr 2024 | 6:33 PM IST

Bandhan Bank appoints Rajeev Mantri as CFO effective from February 22

Ghosh took charge as the Interim CFO from October 20, 2023, after Sunil Samdhani resigned from the post of CFO effective September 30, 2023, to explore opportunities outside the bank

Bandhan Bank appoints Rajeev Mantri as CFO effective from February 22
Updated On : 22 Feb 2024 | 7:55 PM IST

Hyundai Motor picks JPMorgan, Citi to accelerate $3 billion IPO: Report

The company plans to file regulatory papers in India by May to June for an approval, said two of the three sources, all of whom declined to be named as the talks are private

Hyundai Motor picks JPMorgan, Citi to accelerate $3 billion IPO: Report
Updated On : 09 Feb 2024 | 10:47 PM IST

Job cuts at Citi, Deutsche Bank show the future has arrived on Wall Street

Both executives were speaking in 2017, and while they may have been early, their predictions are beginning to pan out

Job cuts at Citi, Deutsche Bank show the future has arrived on Wall Street
Updated On : 09 Feb 2024 | 11:20 AM IST

Citigroup swings to $1.8 billion loss in 4th quarter on slew of charges

Shares in the bank climbed 3% in premarket trading on Friday after CEO Jane Fraser described 2024 as a "turning point year" for the lender

Citigroup swings to $1.8 billion loss in 4th quarter on slew of charges
Updated On : 12 Jan 2024 | 7:40 PM IST

Citi Bank CEO weighs shutting municipal-bond trading business: Report

A Citi spokesperson at that time had said the company did not discriminate against the sector and that it believed it was complying with Texas' law

Citi Bank CEO weighs shutting municipal-bond trading business: Report
Updated On : 03 Nov 2023 | 11:15 PM IST

Citi India sees $22 billion in equity capital deals in 2023, says CEO

"Initial public offerings have come back and you have seen a flurry of block deal activity given where markets are. Now we are starting to see institutional share sales as well," said Ashu Khullar

Citi India sees $22 billion in equity capital deals in 2023, says CEO
Updated On : 06 Oct 2023 | 9:29 AM IST

Citi India sees $22 billion in equity capital deals in 2023, says CEO

"Given the interest in India as a market, at some point people will look at both organic and inorganic way to come into the market," Khullar said

Citi India sees $22 billion in equity capital deals in 2023, says CEO
Updated On : 05 Oct 2023 | 7:55 PM IST

Citi India FY23 profit jumps threefold Rs 13,614 crore on retail arm sale

Citi's total assets stood at Rs 2,17,302 crore as at March 31, 2023. Citi concluded the deal with Axis Bank in March this year

Citi India FY23 profit jumps threefold Rs 13,614 crore on retail arm sale
Updated On : 12 Sep 2023 | 7:13 PM IST

Ravi Kapoor to retire as Citi banking, advisory head for South Asia

Citigroup on Tuesday said Ravi Kapoor will retire as Banking, Capital Markets and Advisory (BCMA) Head for South Asia and India after working with the group for 18 years. K Balasubramanian will take over the role of BCMA Head for South Asia and India, in addition to his current Corporate Bank Head role. Rahul Saraf will continue to head Investment Banking for India, Citi said in a statement. "Ravi Kapoor, who headed BCMA for Citi India and South Asia, has decided to retire from the Bank after 18 illustrious years at Citi and a career spanning 35 years. Ravi attained the superannuation age last year and stayed back at the firm's request," it said. Over the last 13 years in his role as BCMA Head, Kapoor has been instrumental in developing deep client relationships with large Indian conglomerates, mid-market companies and market participants at the senior-most level and built a leading investment bank in India, the statement said. This move recognises Balasubramanian's stature, both .

Ravi Kapoor to retire as Citi banking, advisory head for South Asia
Updated On : 22 Aug 2023 | 8:24 PM IST