Citi launches integrated banking product for younger customers

American lender Citi Wednesday announced a new product offering in the country targeted at people below 40 years of age, seeking to address multiple banking needs of the growing segment through a single relationship.

Citigroup aims to boost equities franchise amid industry shakeout

Citigroup plans to rebuild its long-neglected equities franchise seeking to capitalize on a retrenchment by rivals in the face of new rules designed to make the financial system less risky, according to people familiar with the bank`s plans.

Selvakesari elevated to head Citi's consumer banking in APAC
Selvakesari elevated to head Citi's consumer banking in APAC

Global banking major Citi on Friday elevated Anand Selvakesari as the head of its consumer banking for Asia Pacific.

Citi posts highest quarterly profit in 8 years as costs plunge

Citi has been slowly getting its house in order by cutting costs and shedding assets that are not critical to its main businesses. It has sold retail operations in many countries and shrunk its U.S. branch network.

Two IIT Kanpur students get Rs 1.20 cr package

Two students of Indian Institute of Technology Kanpur got Rs 1.20 cr package during the ongoing placement drive.

Foreign banks to provide upfront loans for NRIs

Foreign banks will provide upfront financing for wealthy non-resident Indian clients to entice them to place bulky dollar deposits back home in response to India's drive for dollar funding to defend its weak currency, sources told Reuters.

Novartis appoints Citigroup as broker for Indian co share sale

Drug major Novartis India Thursday said its Swiss promoter Novartis AG has appointed Citigroup Capital Markets as the broker for the proposed share sale to reduce stake in the Indian entity.

Indian Bank, OBC, Citi cut lending rates by up to 0.3%

"This is to inform that the bank has reduced base rate from 10.40 percent to 10.25 percent effective from February 25, 2013," OBC said in a statement.

Citi Bank official to pay Rs 15L for leak of account details

A Citi Bank branch manager here has been ordered by the Delhi State Consumer Commission to pay Rs 15 lakh as compensation to a credit card holder for leaking his account details to a third party.

Priority sector lending target for foreign banks raised to 40%

Foreign lenders with large presence in India, like Citi Bank and StanChart, will have to follow the same priority sector lending norms as the Indian banks, RBI said on Friday.

Global financial majors lower India growth prospects

J P Morgan has also lowered the India's growth forecast for 2012-13 to 6.3 percent from 7.1 percent projected earlier.

Citi flexes some global might in first quarter

Citigroup, which has 4,600 branches in 40 countries, boasts that it is the most global American bank. That reach paid off big time in the first three months of the year.

Sameer Kaul is private banking head at Citi

Citi India on Monday appointed Sameer Kaul as the head of its private banking business.

Citi India appoints Anuranjita Kumar as Human Resources head

Citi India on Thursday said it has elevated Anuranjita Kumar as country Human Resources Officer.

Citigroup to exit HDFC, to sell stake for over $2 bn

Global banking major Citigroup is learned to have decided to offload its entire 9.8 percent stake in Indian mortgage major HDFC, valued at over USD 2 billion at current market prices.

Citigroup profit falls 11 percent, misses Street view

This trend was also reflected last week in the results of JPMorgan Chase & Co.

Citigroup to pay $285 mn in fraud case

Citigroup Inc will pay USD 285 million to settle charges that it defrauded investors who bought toxic housing-related debt that the bank bet would fail, the US Securities and Exchange Commission said on Wednesday.

Vikram Pandit: 'Occupy Wall Street' sentiments understandable

Banking giant Citigroup's Indian American CEO Vikram Pandit thinks the sentiments of the Occupy Wall Street protesters are "completely understandable" as US economy recovery fell short of what was wanted.

NCDRC imposes Rs 30,000 fine on Citi Bank

International banking major Citi Bank has been imposed a fine of Rs 30,000 by the country's apex consumer forum for filing "meritless" petitions against lower consumer fora order asking it to pay Rs 1.80 lakh to one of its car loan customers.

Obama`s bank regulation is right: Vikram Pandit

Vikram Pandit, the Indian American CEO of Citigroup, says President Barack Obama`s plan to regulate and limit the size of banks is in the "right direction".