Citigroup Inc. (NY: C)
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(C) Community Analysis from
April 20, 2014
(Jutia Group, 4/10/14)
[Reuters] - American Express Co, Citigroup Inc and Discover Financial Services won the dismissal of a lawsuit accusing them of colluding to adopt arbitration...(read more)
(Jutia Group, 4/14/14)
[Reuters] - Total net income under Generally Accepted Accounting Principles rose to $3.94 billion, or $1.23 per share, from $3.81 billion, or $1.23 per share....(read more)
(Blogging Stocks, 4/18/11)
Filed under: Citigroup Inc. (C) Citigroup's first-quarter income fell 32 percent on lower revenue from its investment banking business and a decline in consumer loans. The bank was able to set...(read more)
Citigroup (C) Company Overview

Citigroup (NYSE:C) is one of the world's largest diversified financial services firms, which means that it makes money by loaning out money and receiving interest on the loans. Citi had significant exposure to the subprime mortgage industry and suffered considerable losses in 2007 and 2008 from large write-downs and write-offs on many of its mortgage-backed securities and collateralized debt obligations. Citi posted a loss of $6,733 million in 2009, a 66.6% decrease from a loss of $20,326 million in 2008.[1]

On 16 January 2009, Citi announced that it would be splitting into two businesses to focus on its core business. Citicorp acts as a traditional bank with $1.1 trillion in assets, while Citi Holdings manages its riskier assets, which it will try to sell to raise cash. In an effort to avoid considerable future losses due to mortgage-backed securities and collateralized debt obligations, Citicorp will be 65% deposit funded.[2] To reduce operating costs, Citi has sold branches such as CitiStreet, CitiBank, and its banking operations in Germany.[3][4] Citi's efforts to cut costs has stretched up to its CEO, Vikram Pandit, who announced that he would accept only a salary of $1 and no bonus until the firm was returned to solvency[5] These efforts represent a shift away from an investment bank into a standard holding bank.

(Read more at Wikinvest )

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