Articles from Citi

Today Citi reported fourth quarter and full-year 2024 results, which can be found on its website at https://www.citigroup.com/global/investors. A Quarterly Financial Data Supplement with additional financial, statistical and business-related information, as well as business and segment trends, is also available.

Today, Citi Wealth released its full-year Wealth Outlook for 2025 – Growth Amid Discord: Strategies for a “Rule-Breaking” Expansion. The report offers detailed perspectives on the global economic, market and geopolitical landscape ahead.

Citi Wealth and Hildebrandt Consulting today released their 2025 Citi Hildebrandt Client Advisory. The Advisory covers the broad landscape for the legal industry, including ways law firms are responding to market challenges and where they see the greatest opportunities for growth in the year ahead.

Citi has launched Citi Digital Bill (CDB), a new integrated digital bill discounting solution, making centuries old practices future ready. CDB significantly reduces complexity by eliminating the need for physical documents and couriers and the movement of paper across multiple parties in different geographies. For sellers, CDB provides a faster, more transparent way to manage receivables, reducing the time for monetizing receivables from a week to less than an hour.

Today Citi reported third quarter 2024 results, which can be found on its website at https://www.citigroup.com/global/investors. A Quarterly Financial Data Supplement with additional financial, statistical and business-related information, as well as business and segment trends, is also available.

Citi Issuer Services, acting through Citibank, N.A., has been appointed as depositary bank by NIP Group Inc. (“NIP”) for its American Depositary Receipt (“ADR”) program. NIP is a leading Chinese esports organization with an expansive global footprint that spans Asia, Europe, and South America.

Winning a new mandate from asset manager Nuveen, Citi Securities Services’ ETF Services business has onboarded 23 new ETFs with approximately US$9 billion in assets in North America. The book is comprised of both transparent and non-transparent ETFs.

Today, Citi (NYSEC) and Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, announced a collaboration to launch Citi’s first-of-its-kind 24/7 USD Clearing service in the Middle East. This makes Emirates NBD the first bank to use Citi’s 24/7 USD Clearing service to make cross-border USD payments available to their corporate and retail clients 24 hours a day, 7 days a week, 365 days a year, end to end across their branch network.

Citi Issuer Services, acting through Citibank, N.A., has been appointed as depositary bank by Super Hi International Holding Ltd. (“HDL”), a Hong Kong-listed leading Chinese cuisine restaurant brand operating the Haidilao hot pot restaurant chain in its international markets outside of Mainland China, Hong Kong, Macau, and Taiwan, for the initial public offering (the “IPO”) of HDL’s American Depositary Shares (“ADSs” or “ADRs”), representing its ordinary shares listed in Hong Kong.

Today, Citi announced the Citi Strata Premier℠ Card – an enhancement of the existing Citi Premier® Card – now offering increased benefits and more opportunities to earn ThankYou® Points with the same $95 annual fee1, and Mastercard as the payments network. The newly redesigned card provides cardmembers with the opportunity of making travel more rewarding and adds travel protections for peace of mind.

Citi has made a strategic minority investment in Cicada Technologies Inc.

Today, Citi has announced that it has successfully completed a proof of concept on tokenization of private funds along with Wellington Management and WisdomTree.

Citi Securities Services announces the launch of Financial Information eXchange (FIX) API connectivity on ACES1 – the bank’s online, global ETF portal that fully automates the entire ETF process.

For consumers looking to score a deal, Citi introduces Citi Shop℠, a free shopping desktop browser extension for eligible U.S. Citi(R) credit cardmembers. Once downloaded, Citi Shop automatically searches behind the scenes for offers and available coupons at over 5,000 online merchants. This is the latest example of how Citi continues to provide additional value to its cardmembers by saving them time and money.

Citi and LuminArx Capital today announced the launch of Cinergy, a strategic financing vehicle in the rapidly growing private lending market.

Citi today announced that it will donate over $6.6 million in support of education-focused non-profit organizations as part of its 2023 e for education campaign.

Citi has led a strategic investment round in Supra. Far Out Ventures and H20 Capital also participated in the financing round.

Citi Treasury and Trade Solutions (TTS), within Citi’s Services organization, has made an investment in Icon Solutions, a leading fintech provider of payments technology and consultancy services. In addition to the investment, Citi plans to expand its use of the Icon Payments Framework (IPF) to enhance its micro-services orchestration architecture. This investment and relationship with Icon Solutions demonstrates Citi’s strategy of working with fintechs to strengthen its technology and payments capabilities.

The Law Firm Group of Citi Global Wealth at Work and Hildebrandt Consulting today released their 2024 Citi Hildebrandt Client Advisory, which establishes the broad landscape for the law firm industry, how firms are responding to industry and market challenges and their potential opportunities for growth in the year ahead.

Citi has been named Best Digital Bank 2023 by Global Finance Magazine. This marks 22 consecutive years of recognition as a global banking leader by the publication. Global Finance also named Citi Best Corporate/Institutional Digital Bank Globally, as well as best in several regional categories.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Will Semiconductor Co., Ltd. Shanghai (“Will Semiconductor”) to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

On June 30, 2023 (the “Cessation Date”), ICE Benchmark Administration (“IBA”) ceased publication of all ICE Swap Rate settings based on USD LIBOR. This cessation followed the announcement by the UK Financial Conduct Authority on March 5, 2021, that all USD LIBOR settings would either cease or no longer be representative after the Cessation Date. The USD LIBOR ICE Swap Rate is also referred to as a constant maturity swap (or “CMS”) rate, and in this press release is referred to as the “USD LIBOR CMS Rate”.

Inflation and ongoing market volatility remain the primary concerns of business leaders of mid-sized corporates and organizations surveyed by Citi Commercial Bank (CCB) in its first ‘Global Industry Insights Report’ released today.

Citi today announced significant changes to its organizational model that will fully align its management structure with its business strategy and simplify the bank. The new, flatter structure elevates the leaders of Citi’s five businesses and eliminates management layers, which will speed up decision making, drive increased accountability and strengthen the focus on clients. Simplifying the organization will also advance the execution of Citi’s Transformation, the firm’s top priority.

Citi today announced the acquisition of its Bridge built by Citi® platform (“Bridge”) by Foro Holdings, Inc. (“Foro”), a Charlotte-based commercial lending services provider. As part of the transaction, Citi contributed Bridge to Foro and joined Foro’s investors, including TTV Capital (TTV), US Bank and Correlation Ventures in an additional capital investment in Foro to support the continued growth of the business.

Citi, a global leader in foreign exchange (FX) markets, has made a strategic investment in Rextie, Peru’s leading fintech for FX services.

Citi’s U.S. Retail Bank introduces simplified banking, a more straightforward way of banking. By retiring account packages and introducing Relationship Tiers, Citi is streamlining its benefits and services and enhancing the customer experience. New customers can benefit from these changes immediately and Citi will begin converting existing customers to simplified banking in 2024.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Zhejiang Yongtai Technology Co., Ltd. (“Yongtai”) – a leading manufacturer of fluorine-containing fine chemicals in the industry – to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Zhejiang Huayou Cobalt Co., Ltd. (“Huayou”) to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

Citi has announced the launch of a new platform, CitiDirect® Commercial Banking, specifically to address the needs of Citi Commercial Bank (CCB) clients. This is part of Citi’s significant strategic investment plan to meet the growing global needs of these clients by delivering a single-entry point digital platform.

Further to its announcement that it has completed the Federal Reserve’s 2023 Comprehensive Capital Analysis and Review (“CCAR”) stress test process, Citi today disclosed its Dodd-Frank Act Stress test results, which can be found on the company’s website at https://www.citigroup.com/global/investors/events-and-presentations. Citi also announced that it has initiated dialogue with the Federal Reserve to understand differences in Non-Interest Income (Non-Interest Revenue per Citi’s Financial Reporting presentation) over the nine-quarter stress period between the Federal Reserve’s CCAR results and Citi’s Dodd-Frank Act Stress Test results.

Citi announced today that it has completed the Federal Reserve’s 2023 Comprehensive Capital Analysis and Review (“CCAR”) stress test process. The Firm’s indicative Stress Capital Buffer (“SCB”) requirement is 4.3%, up from the current 4.0%, and the Firm’s preliminary Standardized Common Equity Tier 1 (CET1) capital ratio regulatory requirement is 12.3%, up from the current 12.0%, effective October 1, 2023.

Citi Treasury and Trade Solutions (TTS) and Pismo, the next-gen banking and payments software company, jointly announced their relationship in which Citi will use Pismo’s technology platform to help strengthen Citi’s corporate demand deposit accounts (DDA), to clients worldwide.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Kunshan Dongwei Technology Co., Ltd. (“Dongwei”), a global leading electroplating equipment manufacturer mainly engaged in the research and development, design, production and sales of high-end precision electroplating equipment and its supporting equipment, to act as Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

Citi Global Wealth Investments today released its Mid-Year Wealth Outlook 2023 report - Opportunities on the Horizon: Investing Through a Slowing Economy. This biannual report sets out Citi Global Wealth’s outlook on how investors should approach developments in the global economy, markets and geopolitics.

Depósito Central de Valores and Citi Securities Services jointly announced today that Citi has been appointed as custodian of international securities for Depósito Central de Valores (DCV), the central securities depositary (CSD) for Chilean securities. The transition of the assets successfully went live on May 26th, broadening the existing relationship between Citi and DCV.

Mark Mason, Chief Financial Officer of Citi, will present at Morgan Stanley’s US Financials, Payments & CRE Conference on Wednesday, June 14. The presentation is expected to begin at approximately 2:30 p.m. (Eastern). A live webcast will be available at http://www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.

Citi Treasury and Trade Solutions (TTS) has won top honors in two transaction banking categories at the fifth annual Digital CX Awards 2023, hosted by The Digital Banker -- dedicated to recognizing pioneering innovation in Digital Customer Experience (CX) across the financial services ecosystem. Citi placed first in the World’s Best Transaction Bank for Digital CX and Outstanding Digital CX – Bank Cards categories.

As a leader in U.S. payments, Citi Retail Services, one of North America's largest and most experienced retail payments and credit solution providers, is expanding its embedded payments strategy with its suite of Citi Pay® products. Designed with customers and merchants in mind, the new family of products will deliver a digital-first, consumer finance journey in partner checkout processes.

Citibank, N.A. said today it has raised its base lending rate to 8.25% from 8.00%, effective tomorrow, Thursday, May 4, 2023.

Citi’s Treasury and Trade Solutions (TTS) has expanded its relationship with Treasury Intelligence Solutions (TIS), a global leader in cloud-native cashflow, liquidity, and payment solutions. Joint clients may now, through Citi, gain access to TIS' innovative cash forecasting and working capital platform, enhancing Citi's end-to-end solutions suite across its market-leading global banking network.

Citi was recognized as the number one affordable housing lender in the United States for 2022 according to Affordable Housing Finance magazine's annual ranking, marking the 13th consecutive year that Citi has earned the distinction.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Zhejiang Supcon Technology Co., Ltd. (“Supcon”) and Yangzhou Yangjie Electronic Technology Co., Ltd. (“Yangjie”) to act as the Depositary Bank for their Global Depositary Receipt (“GDR”) Programs. Citi’s Issuer Services acts as the Depositary Bank for 17 out of 18 China Connect GDR Programs (including 5 Shanghai-London Stock Connect Programs and 12 China-Swiss Stock Connect Programs).

Citi® has announced the launch of a new sustainable time deposit solution designed to assist U.S. institutional clients when investing excess cash while supporting their sustainability goals. Citi’s new Sustainable Time Deposit (TD) will deliver competitive yields and supports projects identified under Citi's green and social bond frameworks, expanding the program launched in Europe, the Middle East and Asia last year.

Citibank, N.A. said today it has raised its base lending rate to 8.00% from 7.75%, effective tomorrow, Thursday, March 23, 2023.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Fangda Carbon New Material Co., Ltd. (“Fangda”), a leading company engaged in the research, development, production and sales of carbon materials, to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

On March 5, 2021, the UK Financial Conduct Authority (the “FCA”) announced that all USD LIBOR settings will either cease publication or no longer be representative after June 30, 2023 (the "Cessation Date").

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Zhejiang HangKe Technology Incorporated Company (“Hangke”) to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

Mark Mason, Chief Financial Officer of Citi, will present at the 2023 RBC Capital Markets Financial Institutions Conference on Wednesday, March 8. The presentation is expected to begin at approximately 3:20 p.m. (Eastern). A live webcast will be available at http://www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.

Anand Selvakesari, Citi’s Chief Executive Officer of Personal Banking & Wealth Management, will present at the Bank of America 2023 Financial Services Conference on Thursday, February 16. The presentation is expected to begin at approximately 9:40 a.m. (Eastern). A live webcast will be available at http://www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Jiangsu Eastern Shenghong Co., Ltd. (“Shenghong”) - to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program. This is the ninth China-Swiss Stock Connect Program listed on the SIX Swiss Exchange, and the eighth China-Swiss Stock Connect Program for which Citi’s Issuer Services acts as the Depositary Bank.

Citibank, N.A. said today it has raised its base lending rate to 7.50% from 7.00%, effective tomorrow, Thursday, December 15, 2022.

Citi Law Firm Group and Hildebrandt Consulting today released their 2023 Citi Hildebrandt Client Advisory, which establishes the broad landscape for the law firm industry, how firms are responding to industry, economic and market challenges, and their potential opportunities for growth in the year ahead. While 2022 proved to be a challenging year for law firms, especially off the back of an unusually strong 2021, we view a comparison to 2019 as more accurate, the law firm industry has performed very well and proven resilient.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Sunwoda Electronic Co., Ltd. (“Sunwoda”) and Hangzhou GreatStar Industrial Co., Ltd. (“GreatStar”) to act as the Depositary Bank for their Global Depositary Receipt (“GDR”) programs. These are the seventh and eighth China-Swiss Stock Connect programs listed on the SIX Swiss Exchange.

Today, Citi and AT&T announced the AT&T Points Plus Card from Citi, a new no annual fee* card that rewards wireless customers with statement credits and Citi ThankYou Points on purchases. Building on the long-standing relationship between the two companies, the new card delivers on a shared commitment to drive loyalty and customer engagement by providing an ideal option for AT&T wireless customers looking for rewards on everyday purchases.

Citi® Virtual Accounts continues its strong growth with institutional clients including corporations, financial institutions, ecommerce and insurance companies. This growth comes as multinational companies across industries continue to use Citi’s solutions to help improve operational efficiency, reduce costs, accelerate time to market and ramp up their digitization initiatives. In 2022, account balances grew by 82%, accompanied by 33% growth in adoption.

Citi today announced the release of three Global Perspectives & Solutions (Citi GPS) reports that highlight a range of challenges and opportunities related to the climate crisis. The new research, which underscore the importance of increased private and public sector engagement to address complex global issues, will be discussed at the 2022 United Nations Climate Change Conference (COP27) in Sharm El Sheikh, Egypt.

Citi has been named World's Best Digital Bank by Global Finance magazine for the 21st consecutive year. The bank was also recognized as Best Corporate/Institutional Digital Bank and received multiple regional and subcategory awards in addition to 135 country awards from Global Finance.

Spring by Citi®, Citi’s digital payments service enabling ecommerce and B2B funds flows launched in the U.S. in 2020, has now been fully integrated with Citi® Present and Pay, Citi’s electronic bill presentment platform. The combined solution offers comprehensive digital payment acceptance and electronic bill presentment in one integrated platform.

Citi Treasury and Trade Solutions today announced its intent to launch “24/7 Clearing” as a service to its financial institution clients, beginning with 24/7 USD Clearing in Q4 2022.

Citi has launched a new cash concentration capability designed to mobilize and concentrate liquidity seven days a week. Changing consumer behavior, the increased use of instant payments, and a proliferation of new e-business models are moving treasury management toward real-time and this is now another step closer.

Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Joincare Pharmaceutical Group Industry Co., Ltd. (“Joincare”) – an innovative and scientific research-oriented pharmaceutical group engaged in the research and development, production and distribution of pharmaceuticals and healthcare products – to act as Depositary Bank for its Global Depositary Receipt (“GDR”) program.

Citi has been recognized by The Banker as the Best Global Cash Management Bank, and Best Bank for Transaction Services in the Asia-Pacific region for its 2022 Transaction Banking Awards. This recognition comes as Citi Treasury and Trade Solutions (TTS) continues to invest in its platform, talent and services to help its clients -- many of the world’s largest companies and emerging fintechs -- to achieve their growth ambitions.

Citi Treasury and Trade Solutions has been recognized for innovations helping to combat fraud by the Aite-Novarica Group, a global advisory firm providing mission-critical insights on technology, regulations, strategy, and operations to the Financial Services industry. Selected as the Best Orchestration Innovation in the Aite-Novarica Group’s 2022 Fraud & AML Impact Awards, the Citi® Payment Exchange solution seamlessly integrates Citi® Verify’s multiple fraud reduction capabilities into one payment portal.

Citi today announced its participation as a founding member in the Economic Opportunity Coalition (“EOC”). This is an effort by the Biden-Harris Administration to catalyze and align public and private investments that will address economic disparities and accelerate economic opportunity in underserved communities in the U.S. The newly created program consists of corporations and foundations, all of which have committed to aligning major investments in underserved communities with investments made by the Biden-Harris Administration.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by GEM Co., Ltd., Gotion High-tech Co., Ltd., Keda Industrial Group Co., Ltd. and Ningbo Shanshan Co., Ltd. - to act as the Depositary Bank for their Global Depositary Receipt (“GDR”) programs. These are the first four China-Swiss Stock Connect programs listed on SIX Swiss Exchange.

Mark Mason, Chief Financial Officer, and Michael Verdeschi, Treasurer, will conduct the Citigroup Second Quarter 2022 Fixed Income Investor Review at 11 a.m. (ET) on Thursday, July 28, 2022. The review will be available live via webcast and teleconference.

Citi today released a new Citi Global Perspectives & Solutions (Citi GPS) report in its Home of the Future series that takes another look at the housing market. Home of the Future: PropTech - Towards a Frictionless Housing Market? covers the emergence of PropTech, or fintech for real estate, in the U.S. housing market.

Citi will participate in the Morgan Stanley U.S. Financials, Payments & CRE Conference on Wednesday, June 15, 2022. Andrew Morton, Citi’s Global Head of Markets, will present, and Chief Financial Officer Mark Mason will also attend. The presentation is expected to begin at approximately 9:30 a.m. (Eastern). A live webcast will be available at www.citigroup.com/citi/investor. A replay and transcript of the webcast will be available shortly after the event.

Citi today announced that it worked exclusively with Veteran-owned firms to syndicate a $2.0 billion bond issuance in the spirit of the upcoming Memorial Day holiday, underscoring Citi’s long-standing commitment to providing opportunities to the Veteran community.

Today, Citi released its 2021 Environmental, Social and Governance (ESG) Report, an annual report that details Citi’s ongoing efforts to address some of society’s greatest challenges and build more sustainable, diverse and equitable communities around the world. This report and related Executive Summary highlight the progress made on Citi’s longstanding ESG goals and commitments, as well as efforts to address more immediate world events that are reinforcing the increasing focus and interconnectivity of ESG considerations.

Please view Citi’s first quarter 2022 earnings press release on its website http://www.citigroup.com/citi/investor.

Citi today announced that Ahli United Bank B.S.C. (AUB) has agreed to acquire Citi’s consumer banking business in Bahrain. The transaction, which is subject to regulatory approvals, includes the retail banking, credit card and unsecured lending businesses but excludes Citi’s institutional businesses. Citi remains committed to continuing to serve institutional clients in Bahrain locally, regionally and globally.

Citi was recognized as the number one affordable housing lender in the United States for 2021, according to Affordable Housing Finance magazine’s annual ranking. This marks the 12th consecutive year that Citi has earned this distinction.

The Citi Foundation (the “Foundation”) today announced the launch of a new $50 million Request for Ideas (RFI) to support the next level of growth for Community Development Financial Institutions (CDFIs) across the United States. Representing the largest request for funding in the Foundation’s history, this national RFI aims to solicit and support breakthrough innovations from nonprofit organizations working to advance the field of community finance in four key areas: human capital and talent development; financial and risk-sharing models; technology and operational efficiencies; and thought leadership and research.