Citigroup Archives - CFO

Citigroup Fined $400M Over Risk System Defects

Risk Management

Citigroup Fined $400M Over Risk System Defects

“The public rebuke marks a major escalation of regulators’ efforts to get Citigroup to fix its risk systems."

By Matthew Heller | October 8, 2020

Consumers Boost Citigroup’s Second-Quarter Performance

Consumers Boost Citigroup’s Second-Quarter Performance

The first major bank earnings report demonstrates consumers may be key to the second-quarter profits of the largest financial institutions.

By Vincent Ryan | July 15, 2019

CFOs on the Move: Week Ending March 1

CFOs on the Move: Week Ending March 1

Citigroup, Kaiser Aluminum, MGM Resorts International, Marshall Space Flight Center, Tupperware Brands, Clear Channel Outdoor Holdings

By Joan Urdang | March 1, 2019

Market Volatility Reduces Citigroup Revenue

Financial Performance

Market Volatility Reduces Citigroup Revenue

The year-end gyrations on Wall Street pushed corporate and investor clients to “the sidelines, waiting for some clearer market conditions."

By Matthew Heller | January 15, 2019

Visa, Mastercard Settle Long-Running Fee Suit

Risk & Compliance

Visa, Mastercard Settle Long-Running Fee Suit

The companies said they have already set aside funds to cover the penalty.

By William Sprouse | September 19, 2018

CFOs on the Move: Week Ending Sept. 7

CFOs on the Move: Week Ending Sept. 7

Citigroup, CalPERS, NCR, Talend, Tierra Nueva Technologies, Lantheus Holdings, Advance Auto Parts, At Home Group, Evertec, CSS Industries

By Joan Urdang | September 7, 2018

SEC Charges Citigroup for Internal Controls Failure

SEC Charges Citigroup for Internal Controls Failure

A Citigroup subsidiary failed to detect fraudulent invoices and work estimates in a receivables factoring program for an oil industry provider.

By Vincent Ryan | August 16, 2018

Citigroup Profits Beat Estimates, But Revenue Misses

Investment Banking

Citigroup Profits Beat Estimates, But Revenue Misses

A lower effective tax rate gave the bank a significant net income boost.

By William Sprouse | July 13, 2018

Citi Plans Push For Digital Deposits

Citi Plans Push For Digital Deposits

“People are willing to switch to a bank that is able to provide this kind of mobile-first experience,” said a Citigroup executive.

By William Sprouse | July 9, 2018

Snap Stock Slides After Kylie Jenner Outburst

Snap Stock Slides After Kylie Jenner Outburst

The reality TV star said she's stopped using Snapchat but it's unclear that she single-handedly wiped more than $1 billion off Snap's market value.

By Matthew Heller | February 22, 2018

Citigroup Takes $22B Charge on Tax Law Adjustments

Citigroup Takes $22B Charge on Tax Law Adjustments

The bank's earnings excluding the tax items beat estimates, with consumer banking posting a particularly strong quarter.

By Matthew Heller | January 17, 2018

Citigroup Profit up 8% to $4.1B, Earnings Beat

Investment Banking

Citigroup Profit up 8% to $4.1B, Earnings Beat

Every business in Citi's investment banking unit saw healthy growth in the third quarter except fixed-income trading.

By Matthew Heller | October 13, 2017

Do Stress Tests Help Bank Stocks?

Risk & Compliance

Do Stress Tests Help Bank Stocks?

The answer is unequivocally no, according to noted bond analyst Christopher Whalen, who calls them "a monumental waste of time and money."

By Christopher Whalen | June 28, 2017

Citigroup Unit Settles Money Laundering Probe

Risk & Compliance

Citigroup Unit Settles Money Laundering Probe

Banamex USA will pay $97.4 million to resolve allegations that it failed to properly monitor millions of dollars in remittance payments to Mexico.

By Matthew Heller | May 22, 2017

Citi Earnings Beat Estimates With 17% Gain

Investment Banking

Citi Earnings Beat Estimates With 17% Gain

“The momentum we saw across many of our businesses towards the end of last year carried into the first quarter," CEO Michael Corbat says.

By Matthew Heller | April 13, 2017