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Citigroup profits up 3.5% on lower costs, improved credit

Last Updated: Monday, April 14, 2014, 18:47

Citigroup reported slightly higher quarterly earnings on Monday, as lower expenses and credit losses helped offset revenue declines in mortgage finance and trading.

Citigroup cuts 200-300 jobs: Report

Last Updated: Monday, April 14, 2014, 18:11

US bank Citigroup has cut between 200 and 300 additional jobs, most in the global markets business, The Wall Street Journal reported Sunday.

Global financial biggies catch India poll fever

Last Updated: Wednesday, April 09, 2014, 12:55

These firms also include Bank of America Merrill Lynch, Nomura, Barclays, UBS, CLSA, BNP Paribas, RBS, Deutsche Bank, Credit Suisse, Morgan Stanley and JP Morgan.

Citi agrees to pay $1.1 bn in mortgage settlement

Last Updated: Tuesday, April 08, 2014, 09:17

Citi said the agreement releases it from an obligation to repurchase mortgages sold into 68 mortgage trusts. The 68 trusts issued $59.4 billion in residential mortgage securities during 2005-2008.

Citigroup faces criminal probe for $400 mn fraud at Mexico unit: Source

Last Updated: Friday, April 04, 2014, 07:55

Federal authorities have opened a criminal investigation into a USD 400 million fraud involving Citigroup's Mexican unit, according to a person familiar with the matter.

Weak monsoon may lead to another yr of sub-5% growth for India

Last Updated: Monday, March 24, 2014, 20:47

India could face yet another year of sub 5 percent growth, if monsoon are below normal this year, a Citigroup report says.

US FDIC sues major banks over Libor manipulation

Last Updated: Saturday, March 15, 2014, 09:33

The regulator said the manipulation caused "substantial losses" to 38 US banks which were shut down due to insolvency during and after the 2008 financial crisis.

US FDIC sues major banks over Libor manipulation

Last Updated: Saturday, March 15, 2014, 05:09

The US Federal Deposit Insurance Corporation sued HSBC, Citigroup, Deutsche Bank and 12 other global banking heavyweights today for manipulation of the Libor benchmark interest rate.

Citigroup reports fraud in Mexico unit, lowers 2013 results

Last Updated: Saturday, March 01, 2014, 10:26

Citigroup Inc said on Friday that it has discovered at least USD 400 million in fraudulent loans in its Mexico subsidiary and said employees may have been in on the crime.

Vikram Pandit launching new consulting firm

Last Updated: Friday, February 21, 2014, 12:29

Citigroup`s former Indian-American CEO Vikram Pandit is partnering with the co-author of the popular "Freakonomics" book series to launch a new consulting business, according to a media report.

'RBI target of 8% CPI inflation level in Jan 2015 attainable'

Last Updated: Thursday, February 13, 2014, 16:40

Ruling out incremental tightening of monetary policy, a Citigroup report has said the Reserve Bank's interim target of 8 per cent inflation in January 2015 seems "attainable", provided there is normal monsoon.

FY14 trade deficit to be $144.9 bn; CAD at $36.8 bn: Citigroup

Last Updated: Wednesday, February 12, 2014, 17:45

India's trade deficit for the current financial year is likely to be contained at USD 144.9 billion, helping to narrow the current account deficit to USD 36.8 billion, a Citigroup report says.