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INX:C, Jan 20, 08:44 UTC

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Friday, January 17


News

Citi Retains mtn-i’s Global Structured Rates Issuer and Dealer of the Year Title

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LONDON--(BUSINESS WIRE)--mtn-i, the global Medium Term Note (MTN) news, data, analytics and communication platform, has named Citi Global Structured Rates Issuer & Dealer of the Year for the second consecutive year. Commenting on the award, Bhaavit Agrawal, Global Head of MTNs and Private Placements, Rates and Currencies, Citi, said: "Tremendous effort and commitment underpins this industry recognition. We look forward to continuing to lead and innovate across products and markets, with support from our colleagues and clients." Elissa Steinberg, Head of Funding, Citi, added: “Ongoing demand from clients, innovations in structures and processes, and a continued partnership across Treasury and the private placements team allow Citi to not only be a best-in-class constituent of markets, but help diversify the Firm’s funding levers in a meaningful way.”. Citi further celebrates the recognition with a Deal of the Year award for the AUD30m 3.27% 15-year Green MTNs due June 2034.

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Wednesday, January 15


News

Citigroup Declares Common Stock Dividend; Citigroup Declares Preferred Dividends

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NEW YORK--(BUSINESS WIRE)--The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.51 per share, payable on February 28, 2020 to stockholders of record on February 3, 2020. Holders of depositary receipts, each representing one-twenty-fifth of a full preferred share, will be paid $29.75 for each receipt held. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.

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Citigroup female employees earn 27% less than men

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(Reuters) - Citigroup's (C.N) female employees earn 27% less than male employees on a global median basis, the Wall Street bank said on Wednesday. The median pay for Citi's women employees globally was just 73% of the median for men, improving from 71% last year, according to an internal analysis. For minorities in the United States, the median pay was 94% of the median for non-minorities, up from 93% last year. The third-largest U.S. bank has said it wants women employees to hold at least 40% of roles at assistant vice-president level through to managing director level by the end of 2021, with 8% of such roles in the United States held by black employees. Citi and other Wall Street banks have been under pressure to disclose how much less it pays women than men.

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Tuesday, January 14


News

Citigroup (C) Surpasses Q4 Earnings and Revenue Estimates

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Over the last four quarters, the company has surpassed consensus EPS estimates four times. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Citigroup was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.

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JPMorgan, Citigroup and Wells Fargo Report Strong 4th-Quarter Investing Growth

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Before the market opened on Jan. 14, JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C) and Wells Fargo & Co. (NYSE:WFC) reported their earnings for the quarter and full year ended Dec. 31, 2019. The positive results were driven by an 86% increase in fixed-income trading, a 15% increase in equity trading, a 6% increase in investment banking and an 8% increase in asset and wealth management. Citigroup saw strong growth in the following sectors: fixed-income trading (up 49%), investment banking (up 6%), treasury and trade solutions (up 2%) and global consumer banking (up 4% currency-adjusted). "Our net interest income declined in the fourth quarter driven predominantly by the impact of the lower interest rate environment. In addition, while we are spending what is necessary in order to improve risk management, our other expenses were too high and becoming more efficient remains a top priority. However, we continued to have positive business trends with both loans and deposits growing from the third quarter and a year ago." As of Jan. 14, Wells Fargo has a market cap of $209.9 billion, a price-earnings ratio of 10.7%, a three-year revenue growth rate of 3.5%, a three-year EPS without NRI growth rate of 1.3% and a cash-debt ratio of 0.61.

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Citi Fourth Quarter 2019 Fixed Income Investor Review

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Mark Mason, Chief Financial Officer, and Michael Verdeschi, Treasurer, will conduct the Citigroup fourth quarter 2019 Fixed Income Investor Review at 11:00 AM (ET) on Tuesday, January 28, 2020. US & Canada: (800) 309-5794 International Callers: (706) 902-3256 Conference code: 9745738. A telephonic replay of the call will be available beginning approximately two hours after the event until Friday, February 28, 2020 by calling (855) 859-2056 (U.S. and Canada callers) or (404) 537-3406 (for international callers). Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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Wall Street inches to fresh record after upbeat JPMorgan, Citi results

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Wall Street inches to fresh record after upbeat JPMorgan, Citi results | NASDAQ. Kicking off the fourth-quarter earnings season, the largest U.S. bank JPMorgan Chase & Co JPM.N, rose 1.9% after reporting a better-than-expected profit on strength in its trading and underwriting businesses, helping the blue-chip Dow index outperform. "It (bank earnings) is reflective of where we are in the economic cycle," said Mike Loewengart, vice president of investment strategy at E*TRADE Financial Corp. "We're coming off a decade of consistent gains and banks, especially JPMorgan producing record earnings, it's not surprising given the strength of the U.S. economy." China has pledged to buy nearly an additional $80 billion of manufactured goods from the United States over the next two years, and over $50 billion more in energy supplies, Reuters reported, citing a source briefed on the Phase 1 trade deal that is expected to be signed on Wednesday. However, checking gains on Wall Street were technology and internet stocks that took the main indexes to record highs in the previous session.

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Stock Market News: Bank Earnings Send Wells Fargo Lower, Citi Higher

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Stock Market News: Bank Earnings Send Wells Fargo Lower, Citi Higher | NASDAQ. Earnings season is here again, and market participants have eagerly waited for signs of how corporate America performed during the key holiday quarter. Even with international geopolitical issues hanging over the market, investors want to see whether their generally favorable picture of how things are going with the U.S. economy matches up with reality for the companies on the front lines. As of 11 a.m. EST, the Dow Jones Industrial Average(DJINDICES: ^DJI) climbed 46 points to 28,953. However, the S&P 500(SNPINDEX: ^GSPC) lost 5 points to 3,283, and the Nasdaq Composite(NASDAQINDEX: ^IXIC) fell 26 points to 9,247. Shares of Wells Fargo were down 4% after the San Francisco-based banking giant released its fourth-quarter financial results. For those hoping for a long-awaited turnaround, Wells Fargo's report was just the latest in a series of disappointments. CEO Charlie Scharf tried to maintain a positive attitude, noting his confidence that he'll be able to restore the bank's regulatory reputation through more urgent compliance efforts. Yet Scharf also noted that Wells' cost structure is currently too expensive, and he sees further work needed in order to boost growth.

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News

Citigroup Triumph on Sound Earnings Beat

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Citigroup (NYSE:C) reported Tuesday quarterly results that easily beat analyst expectations, driven by strong fixed-income trading revenues along with growing sales from the bank's consumer business. Fixed-income trading took off, showing a reading of $2.9 billion, compared to estimates of $1.24 billion. The bank's consumer business also boosted its results, as its global consumer banking division raked in $8.5 billion in sales. Wells Fargo banking analyst Mike Mayo raised last month his price target on the stock to $97 per share from $85 per share, calling C his favorite banking stock.

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Investment Banking Propels Citigroup's Fourth-Quarter Profit — 2nd Update

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Citigroup Inc. on Tuesday said fourth-quarter profit rose 15% and beat expectations on a surge in its investment-banking operations. The New York bank posted profit of $4.98 billion, or $2.15 a share. The corporate bank's revenue and profit both rose 10%, to $9.38 billion and $2.88 billion, respectively, bouncing back from a weak period a year ago. Citigroup had targeted 12% for all of 2019, and the bank looked on pace for that, "or darn close," Chief Financial Officer Mark Mason told skeptical analysts in September. But Mr. Mason told analysts Tuesday that the bank was lowering its 2020 target to a range of 12% to 13%, lower than the 13.5% the bank had previously targeted.

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