Page 2 - Citigroup

Citigroup's profit climbs on investment banking surge, services strength

The upbeat results come two days after U.S. regulators fined Citi $136 million for making "insufficient progress" in fixing data management problems identified in 2020

US regulators fine Citigroup $136 mn for failing to address data issues

The fines are the latest blows for CEO Jane Fraser as she tackles the bank's regulatory failings

Labour ministry rebuts Citigroup's research report on employment in India

The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey (PLFS) and the Reserve Bank of India's KLEMS data." The recent research report by Citigroup on employment in India, quoted by some of the print and electronic media, forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. Ministry of Labour and Employment strongly rebuts such reports which do not analyse all official data sources available in the public domain, it said. According to PLFS and RBI's KLEMS data, India has generated more than 8 crore (80 million) employment opportunities from 2017-18 to 2021-22. This translates to an average of over 2 crore (20

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

Citigroup sees India's allure enticing global bond funds to stay put

India's debt yields are higher than China's or the US, and its economy is the fastest-growing among the Group of 20. There's little reason for active investors who've poured money in to reverse course

Govt likely to cut bond sales aided by higher cash balance: Officials

The yield on benchmark 10-year bond was little changed at 7.09 per cent on Tuesday

Citigroup sells shares of Vodafone Idea for over Rs 233 cr via open market

Financial services company Citigroup on Wednesday sold shares of telecom company Vodafone Idea for over Rs 233 crore through an open market transaction. US-based Citigroup through its affiliate, Citigroup Global Markets Mauritius, offloaded shares of Vodafone Idea through a block deal on the BSE. Citigroup Global Markets Mauritius Pvt Ltd disposed of 19,04,25,000 shares of Vodafone Idea, as per the data on the BSE. The shares were disposed of at an average price of Rs 12.27 apiece, taking the transaction value to Rs 233.65 crore. Meanwhile, Ghisallo Master Fund LP acquired the shares of Vodafone Idea at the same price. On Wednesday, shares of Vodafone Idea jumped 2.67 per cent to close at Rs 12.71 per piece on the BSE.

Battleground 2024: Next govt to pursue reforms agenda, says Citigroup

Citigroup said simple consolidation of Opposition votes is unlikely to significantly affect electoral outcomes for BJP given its dominant vote share in 2019

Citigroup's new hire Raghavan - a no nonsense, hard-charging dealmaker

After four years co-running JPMorgan's global investment banking franchise, Raghavan, 57, is now set to take over Citigroup's entire Wall Street operation

Citigroup hires JPMorgan's Viswas Raghavan as head of banking, exec VC

Raghavan, who is expected to start at the bank in summer, will also join the firm's executive management team and report directly to Fraser, Citigroup said in an internal memo Monday

CEO's pay hiked to $26 mn in 2023, Citigroup says amid 20,000 job cuts plan

Jane Fraser's pay included a base salary of $1.5 million and a cash bonus of $3.7 million as well as $20.8 million in deferred performance-linked stock, the company said

Citigroup lays off more bosses as CEO addresses managing directors: Report

The bank last week said it would cut 20,000 jobs over the next two years, after a fourth quarter marred by one-off charges that resulted in a $1.8 billion loss

Citigroup lays off more bosses as CEO Fraser addresses MDs: Report

The bank last week said it would cut 20,000 jobs over the next two years, after a fourth quarter marred by one-off charges that resulted in a $1.8 billion loss

Citigroup partners with LuminArx to launch private lending vehicle

Last year, Wells Fargo also launched a fund in partnership with a private equity firm

Citigroup to cut 20,000 jobs over the next two years to boost returns

The lender, which currently has 239,000 employees worldwide, will reduce that headcount by 20,000 as part of a sweeping reorganisation, Mason told reporters

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

Kotak Mahindra Bank shareholders approve Vaswani's appointment as MD & CEO

Reserve Bank of India cleared Vaswani's appointment as MD & CEO of the bank for a period of three years with the effect from the date of taking charge, which should not be later than 1 January 2024

Citigroup reorganisation to be completed in first quarter, to cost $1 bn

The bank maintained its estimate for 2023 expenses at $54 billion, excluding a special assessment from the Federal Deposit Insurance Corp. of about $1.65 billion

Citigroup MD accuses ex-bosses of 'horrifying' sexual assault, harassment

She says she finally decided to end their relationship in October 2022, after which he subjected her to an "onslaught of shocking abuse via hundreds of text messages and incessant phone calls

Citigroup cuts 300 senior manager roles in latest rejig, says report

"Building a winning bank requires a great deal of commitment, hard work and resilience from each of us," Fraser said in a memo to staff. "I'm fully aware we're asking a lot of our people"