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Citigroup Inc

Citigroup profit triples, exits some overseas consumer units
Business & Finance

Citigroup profit triples, exits some overseas consumer units

  • Like JPMorgan Chase & Co, which reported earnings on Wednesday, Citi benefited from a boom in capital markets activity, but its consumer bank felt the impact of low interest rates that hurt earnings.
  • Revenue fell 7% on low interest rates and a 10% decline in loans, largely due to lower consumer credit card loan balances.
Published 15 Apr, 2021 07:38pm
Citigroup offers rapid at-home COVID-19 tests to some US staff
World

Citigroup offers rapid at-home COVID-19 tests to some US staff

  • The at-home COVID-19 testing program uses a rapid antigen test, which offers results within 20 minutes, the bank said, adding the test is awaiting emergency use approval from the US Food and Drug Administration.
  • Citi said it has offered employees at its Chicago area branches and those working on its trading floors in New York a chance to participate in the home testing program.
Published 10 Mar, 2021 07:38pm
Citi takes profits in South Africa currency trade
Business & Finance

Citi takes profits in South Africa currency trade

  • Citi said it was taking profit on its three-month USD/ZAR put spread of 14.00 to 14.50, giving a total profit of 1.26% of the notional value. It purchased the put spread on Jan. 20.
  • Citi said the potential for a lowering in issuance of South Africa government bonds had already been partially absorbed by the market.
Published 16 Feb, 2021 06:56pm
Taiwan punishes foreign banks in speculation case
Business & Finance

Taiwan punishes foreign banks in speculation case

  • The Taiwan dollar is at a more than 23-year-high against the greenback as the island's trade-dependent economy booms on the back of global demand for its tech products.
  • The suspension will be a year or more for the most serious cases, the sources said, without saying the length of time being applied to each bank.
Published 05 Feb, 2021 07:42pm
Citigroup urges return of mistaken Revlon payment as trial ends
Business & Finance

Citigroup urges return of mistaken Revlon payment as trial ends

  • At the conclusion of a six-day non-jury trial, US District Judge Jesse Furman in Manhattan said he would rule as quickly as he could, while admitting "it's not the easiest case."
  • Ten asset managers including Brigade Capital Management, HPS Investment Partners and Symphony Asset Management have refused to return $501 million.
Published 17 Dec, 2020 12:56am