Citigroup Inc. (C)
Bank of America and Citigroup exit Net-Zero Banking Alliance amid political pressure
Bank of America Corp (NYSE:BAC) and Citigroup Inc (NYSE:C) announced their departure from the Net-Zero Banking Alliance, a UN-backed initiative aimed at reducing financial support for industries contributing to greenhouse gas emissions. The move follows similar exits by Goldman Sachs and Wells Fargo, highlighting shifting corporate priorities under increased Republican scrutiny following Donald Trump's re-election.
Citigroup: Still Banking On Its Discount
Citigroup Inc.'s stock has outperformed the S&P 500 since our latest coverage, and we see additional gains ahead. The bank's financials show mixed results, with a slight revenue increase and higher credit costs. We think consolidation will occur in 2025, providing Citi with elevated interest and non-interest revenue. Net credit losses added an overhang to Citigroup's net income in Q3 2024. However, we see departure occurring in due course.
Citigroup joins US lenders in exiting Net-Zero Banking Alliance
U.S. bank Citigroup said on Tuesday it is exiting the Net-Zero Banking Alliance (NZBA), a group of global banks that have pledged to curb greenhouse gas emissions.
Citigroup: Improved Backdrop, But Not A Strong Buy Anymore
Citigroup's strategic cost-cutting and divestment efforts have improved efficiency, while a $25 billion partnership with Apollo enhances revenue without affecting capital adequacy. Despite recent gains, Citigroup remains undervalued, with a price-to-tangible book value of 0.8x. Based on analyst price targets, it offers a 19.21% upside potential. An improved backdrop, particularly from a yield curve with a higher spread among long—and short-term yields, provides a bullish thesis for Citigroup's stock.
Citigroup A Safe Dividend Play But Profit Margins Need Improvement
Citigroup gets a hold rating as its growth prospects are overshadowed by competition from other top 10 US banks, and a weaker profit margin. It is a global systemically critical bank with strong investment-grade credit ratings. The stock shows undervaluation, within a sector that has been highly bullish in the last year.
Big Banks Sue the Fed Over Lack of Transparency in Annual Stress Test
JPM, C, GS and others file a joint lawsuit against the Fed over annual stress testing transparency and framework.
Citigroup: Doubters Become Believers In 2025
I am buying every dip in Citigroup, expecting strategic transformation to start showing in financials by 2025. Citi's strategic transformation includes simplifying the organization, modernizing infrastructure, and growing key business segments like Services, Wealth Management, and Banking. Key catalysts include potential buybacks, deregulation, lower capital requirements, and industry tailwinds, making the current valuation at 0.75x TBV compelling.
Citigroup and Barclays Face Penalty for Naked Short Selling
C and BCS are fined $3.2 million & $9.5 million, respectively, by SFC of South Korea due to their involvement in naked short selling activities.
Citigroup's Credit Card Delinquencies & Charge-Offs Rise in November
C's credit card business sees a rise in delinquencies in November 2024. Yet, a modest rise in lending activities is likely to drive its core business performance.
Quantix secures $500 million financing deal with Citi
Tariq Bin Hendi, Astra Tech board member and managing director, shares insights on the firm's subsidiary Quantix, which secured a $500 million financing deal with Citi.
Citigroup & JPMorgan Expect Q4 IB and Market Revenues to Rise
C and JPM project IB and market revenues to grow in the fourth quarter of 2024. The banks also provide new and updated guidance for revenues and expenses.
Citigroup CEO Fraser on Turnaround Plan, Private Markets, Biggest Risks
Bloomberg's Sonali Basak sits down with Citigroup CEO Jane Fraser at their New York headquarters. Fraser talks about her plans for turning around the bank and investing in emerging markets, growing private markets, the biggest threats to the industry, and where she sees the bank in five years.
