Citi Bank

The near-miss in Citigroup's wealth-management business magnified the intended amount by more than a thousand times and was detected on the next business day

The transfer was missed by two employees and detected by a third employee 90 minutes after it was posted

Private banks have historically been rare in the market, but have begun tapping it or exploring deals amid regulatory pressure

The compensation includes $1.5 million of base salary, $4.95 million in cash incentive and the rest in deferred incentives, the bank said

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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