Page 5 - Citigroup

Day after Q1 GDP data, a spate of forecast cuts by banks, institutions

Moody's cut its forecast to 7.7%, from 8.8%, citing dampening economic momentum in the coming quarters on rising interest rates, uneven monsoon, and slowing global growth

Citigroup shares surge over 10% on profit beat, core business strength

The bank's profit fell to $4.5 billion, or $2.19 a share, in the quarter ended June 30, from $6.2 billion, or $2.85 a share, a year earlier

Economists see waning urgency for India's RBI to go for large hikes

Citigroup Inc. economists expect a 35 basis-point increase in borrowing costs at the Reserve Bank of India's next Monetary Policy Committee meeting in August, a move also predicted by Barclays Plc

Citigroup warns crude oil may fall to $45 a barrel by 2023-end

That outlook is based on an absence of any intervention by OPEC+ producers and a decline in oil investments

Recessions in advanced economies may help cool inflation in India

Recessions in advanced economies may benefit India in a "perverse way" as a moderation in global commodities prices will help cool domestic inflation, according to Citigroup Inc

Citi sees chances of global recession nearing 50% due to Ukraine war, Covid

Recession is an 'increasingly palpable risk' for the economy, Citigroup analysts wrote in a note on Wednesday

US-based Citigroup adds more capacity in its Chennai, Pune workspaces

US-based bank Citigroup Inc on Thursday said it has inaugurated two state-of-the-art workspaces in Chennai and Pune under its Citi Solution Centres network that would augment the capacity to serve

We will double down on India, says Citigroup CEO (India) Ashu Khullar

'The consumer business has over the years become largely dominated by domestic players, not only in India but globally'

Citigroup behind error that wiped out $315 billion from European markets

The bank said it identified the error "within minutes" and corrected it

Error by Citigroup trader caused 'flash crash' in Europe markets

A flash crash is an extremely fast fall in the price of one or more assets, often caused by a trading mistake

Loved by banks, bond trade worth Rs 2 trn faces scrutiny from RBI

Traders argue that the transactions are structured as so-called forward rate agreements, which are permitted by the RBI, allowing them to clear internal compliance checks

Nasdaq, S&P 500 fall as growth shares lose steam, mixed Q1 results by banks

Twitter rises on Elon Musk's $41-bn buyout offer'; Morgan Stanley, Citi rise after results; Wells Fargo slips after quarterly profit drops

Citigroup's Q1 profit sinks 46% on loan loss provisions, dealmaking slump

Citi adds $1.9 bln of reserves for Ukraine crisis; investment banking revenue slumps on SPAC slowdown

JPMorgan's Q1 profit falls 42% on slowdown in deals, trading

The largest US lender, whose fortunes are often seen as a barometer of the health of the economy, posted a profit of $8.28 bn, or $2.63 per share, in the quarter ended March 31

Testing the tenacity of multinationals

Exiting from India is mostly part of the global strategy of the marquee firms to put their energies into more lucrative projects and deal with easier markets

Axis Bank-Citi deal: Brokerages list key positives & negatives for the bank

The affluent credit card segment was seen as a gap in Axis Bank's customer positioning and will fit in the lender's retail portfolio.

Axis Bank spurts 2% on acquiring Citigroup's Indian banking businesses

The private lender has acquired Citigroups' Indian consumer banking businesses, including credit cards, retail banking, wealth management and consumer loans in an all cash deal worth Rs 12,325 crore.

Axis Bank acquires Citi's consumer business in India for $1.6 bn

The all-cash deal includes Citi's credit cards, retail banking, wealth management and consumer loan

Citi deal can perk up Axis Bank's prospects, but there are challenges too

Cheaper-than-expected valuation for the above-average customer franchise is positive; extracting synergies, smooth integration among key challenges

Axis Bank acquires Citi's India consumer business in a Rs 12,325-cr deal

Acquisition of 3 million unique customers of Citibank India to enhance Axis Bank's presence in the key identified growth segments, the Mumbai-headquartered lender said