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Sep 16, 2022 · NEW YORK, Sept 16 (Reuters) - Citigroup has submitted a comprehensive multiyear plan to the Federal Reserve and the Office of the Comptroller of the Currency outlining steps to fix weaknesses...
- Consumer Banking Sales
- Boosting Financial Returns and Regulatory Issues
- Where Is The Bank in The Transformation?
Citigroup initially announced plans to exit 13 international consumer banking units and is well underway in the process. The process has not always been smooth and at times has resulted in charges, like with its Korean consumer bank, which Citigroup was unable to sell and had to wind down. But at the end of the third quarter, Citigroup had signed a...
Citigroup said at its investor day event that its goal is to deliver an 11% to 12% ROTCE over the next three to five years. Through the first three quarters of the year, Citigroup had a 9.9% ROTCE and in the third quarter the bank turned in an 8.2% ROTCE. However, Citigroup is currently benefiting from higher interest rates and a very benign credit...
I think the bankis making progress and doing everything it can to move quickly on the transformation but it does still seem like there is a lot more work to do. That said, there are some potential catalysts to look out for in 2023, including the resumption of share repurchases and the sale of the Mexico division. The good news is that the stock is ...
Nov 23, 2022 · Reuters reported in September that Citi had submitted a comprehensive multi-year plan to the Fed and the OCC outlining steps to fix weaknesses in its risk management and internal controls.
Feb 12, 2024 · NEW YORK, Feb 12 (Reuters) - U.S. regulators have asked Citigroup (C.N) for urgent changes to the way it measures default risk of its trading partners and the bank’s own auditors have found a...
May 28, 2023 · Since the beginning of 2021, Citigroup (C 2.20%) has been working on a multiyear plan to modernize and simplify the bank, focus on better-performing businesses, and ultimately boost returns,...
Jan 12, 2024 · Citigroup plans to cut 20,000 jobs - about 10% of its global staff - over the next two years, as it pushes to streamline operations. The reductions are part of a sweeping reorganisation announced...
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Apr 22, 2021 · Citigroup plans to wind down or sell its consumer banking franchises in Australia, Bahrain, China, India, Indonesia, Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand, and...
