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Citi News

18 Apr 2021

CitiBank exit: SBI, private banks eye Citi’s credit card business

Citi was once a market leader in India’s credit card business. Citi’s clientele mostly includes high net worth individuals (HNIs). SBI Card is seen as a major contender for Citi’s credit card business.

10 Aug 2017

SoftBank Vision Fund invest at least $2.5 billion in Flipkart, becomes largest shareholder in the firm

The investment is part of the previously announced financing round, where Flipkart had raised capital from China`s internet company Tencent, eBay and global technology giant Microsoft.

18 Apr 2017

Paris fast replacing Mauritius as tax haven: Report

Till March 31, Mauritius was the preferred location to carry out such business.

21 Nov 2016

Citi and JPMorgan top list of globally systemic banks, replaces HSBC

Citi has joined JPMorgan at the top of global regulators` list of systemically important banks, replacing HSBC and meaning the U.S. bank will have to hold extra capital from 2019 to help preserve financial stability.

22 Jul 2015

Citi ordered to pay $770 million over credit card practices

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

30 Jun 2015

Citi cuts base rate to 9.35%

Citi on Tuesday became the first overseas bank in India to lower base rate, which it slashed by 15 basis points to 9.35 percent, citing falling interest rates.

17 Apr 2015

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.

01 Feb 2015

Fiscal deficit target of 4.1% GDP likely to be met: Citi

The fiscal deficit target of 4.1 percent of GDP for 2014-15 is likely to be met though the fiscal trends are "weak", it said.

06 Oct 2014

'EY tops in deal volume, Citi in value so far this year'

With closing 16 deals, EY has emerged as the busiest arranger in the merger and acquisitions space this year in the country, while Citi tops by value, according to data compiled by Mergermarket.

IRB Infrastructure

01 Sep 2014

IRB Infrastructure falls after Citi downgrade

Shares of IRB Infrastructure Developers Ltd fall after Citigroup downgraded the stock to "sell" from "buy".

26 Aug 2014

Citi, HSBC, UBS among 5 bankers to manage ONGC share sale

The government had last sold 5 percent stake in ONGC in 2012 for Rs 14,000 crore.

14 Jul 2014

Citigroup to pay $7 bn to settle US mortgage suits

The bank will take a USD 3.8 billion pre-tax charge to cover the settlement.

07 Jul 2014

Citi India Net up 6% at Rs 2,893 crore

The New York-headquartered Citi's domestic unit recorded a pre-tax profit growth of 11.4 percent to Rs 5,113 crore in FY14, it said in a statement.

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