Bank of America CEO Brian Moynihan hit back at President Trump’s proposal to slap a 10% cap on credit card interest rates for a year, becoming the latest Wall Street banker to warn that the policy could choke off credit access for millions and hurt the ordinary Americans it is supposed to help.“We’re all in for affordability,” Moynihan declared Wednesday during his bank’s earnings call — but he cautioned that slashing rates would trigger a credit crunch.“You’re going to get restricted credit, meaning less p ...

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Core Viewpoint - Citigroup reported mixed fourth-quarter results, exceeding earnings expectations on an adjusted basis but falling short of revenue forecasts, leading to a 3% decline in shares intraday Financial Performance - The bank's net income for the quarter ended in December was $2.5 billion, or $1.19 per diluted share, on revenue of $19.9 billion, compared to net income of $2.9 billion, or $1.34 per share, on revenue of $19.5 billion in the prior-year period [1] - A pre-tax loss of $1.2 billion, or $1.1 billion after tax, was reported due to the sale of Citigroup's Russian unit, AO Citibank, primarily driven by currency translation effects [2] - Excluding the Russia-related charge, earnings per share were $1.81, surpassing the consensus estimate of $1.70, while revenue fell short of analyst expectations of $20.55 billion [2] Year-over-Year Comparison - Net income declined year over year, attributed to higher expenses, including income tax costs related to the limited tax benefit of the Russia-related charge, partially offset by higher underlying revenue and a lower provision for credit losses [3] - On an adjusted basis, excluding the Russia item, net income was reported at $3.6 billion [3] Strategic Outlook - Chief Executive Jane Fraser indicated that 2025 would be a year of significant progress for the company, marked by record revenues and positive operating leverage across all five business segments [4]

The fourth quarter earnings season kicked off in earnest on Tuesday with the arrival of quarterly reports from Delta Air Lines (DAL) and JPMorgan Chase (JPM). Additional bank earnings will highlight the earnings calendar later this week. An optimistic consensus is forming: Wall Street analysts estimate S&P 500 (^GSPC) companies will report an earnings per share growth rate of 8.3% for Q4, according to FactSet data. If that rate holds, it would represent the 10th consecutive quarter of annual earnings grow ...

Core Viewpoint - Citigroup Inc. reported disappointing earnings and revenue for the fourth quarter, reflecting challenges faced by the company, but strategic decisions and investor confidence in future earnings potential remain evident [2][3][6]. Financial Performance - Earnings per share (EPS) for Citigroup was $1.19, missing the estimated $1.65 [2][6]. - Revenue was reported at $19.87 billion, falling short of the expected $20.45 billion [2][6]. - Net income declined by 13% to $2.5 billion, down from $2.9 billion the previous year, primarily due to a $1.2 billion loss from the sale of its Russia business [3][6]. Market Reaction - Despite the decline in profit, Citigroup's stock saw an increase, indicating investor confidence in the company's strategic plans [4][6]. - The price-to-earnings (P/E) ratio is 13.96, suggesting positive investor sentiment regarding future earnings potential [4][6]. Financial Ratios - The debt-to-equity ratio stands at 3.38, indicating a significant reliance on debt financing [5]. - The current ratio is 0.37, which points to potential liquidity challenges [5]. - Citigroup's earnings yield is 7.16%, reflecting the earnings generated from each dollar invested [5].

Mark Mason, CEO of Citi Private Bank, speaks during the Global Wealth Management Summit in New York June 17, 2014.The biggest U.S. banks show no sign of capitulating to President Donald Trump's mandate to slash credit card interest rates, setting up a confrontation just as the President is expected to take the world stage next week at Davos.Executives at JPMorgan Chase and Citigroup warned this week that rather than offering cards at a 10% interest rate, as Trump has directed should happen by Jan. 20, the b ...

Key Takeaways C posted Q4 adjusted EPS of $1.81, up 35.1% year over year and ahead of the consensus estimate.C benefited from higher net interest income, lower provisions and a 38% rise in investment banking revenues.C faced rising expenses, weaker capital ratios and a sharp decline in non-interest income.Citigroup Inc. (C) reported fourth-quarter 2025 adjusted net income per share of $1.81, up 35.1% from the year-ago period. The metric also surpassed the Zacks Consensus Estimate by 9.7%.The company's resul ...

Core Viewpoint - The article discusses the expertise and background of John M. Mason, highlighting his extensive experience in finance and economics, which positions him as a knowledgeable commentator on current monetary and financial events [1]. Group 1: Professional Background - John M. Mason is the founder and CEO of New Finance, LLC, with a history of leadership roles in publicly traded financial institutions [1]. - He has served as a special assistant to the secretary of the Department of Housing and Urban Development and as a senior economist within the Federal Reserve System [1]. - Mason has academic experience, having taught at the Wharton School of the University of Pennsylvania and Penn State University [1]. Group 2: Industry Involvement - He has been involved with venture capital funds and private equity funds, indicating a strong connection to investment and entrepreneurial activities [1]. - Mason has worked with young entrepreneurs, particularly in urban environments, focusing on companies related to Information Technology [1].

花旗首席执行官范洁恩（Jane Fraser）周三在致22.6万名员工的备忘录中言辞犀利地提到"门槛已经提高 了"，暗示今年将进一步裁员。 范洁恩写道，"我们不是根据努力程度来评分的，关键是要看结果。我希望看到那些陈旧、恶劣的习惯 彻底消失，期待一个更加自律、更加自信、锐意进取的花旗在2026年脱颖而出。" 花旗集团首席执行官范 洁恩 范洁恩一直敦促员工努力实现盈利目标，为客户提高投资回报率。她还投资了自动化和中后台控制系 统，以解决那些损害公司声誉并引发监管机构愤怒的数据问题。 花旗集团还表示，根据其自身的衡量标准，旨在解决监管问题的项目中，有80%已达到或接近目标状 态。一旦这些项目完成，为满足监管要求而招聘的部分员工可能会被裁减。周一彭博报道称，花旗本周 将裁员约1000人。 "随着时间的推移，我们可以预见自动化、人工智能和进一步的流程简化将重塑工作方式，一些岗位会 发生变化，新的岗位将出现，而另一些岗位将不再被需要，"范洁恩写道。 责任编辑：李桐 花旗首席执行官范洁恩（Jane Fraser）周三在致22.6万名员工的备忘录中言辞犀利地提到"门槛已经提高 了"，暗示今年将进一步裁员。 范洁恩写道，"我 ...

M&A Market Overview - Last year saw merger and acquisition (M&A) deals climb to an almost record high, with a record 70 deals each worth more than $10 billion by the end of 2025, making it the second-biggest year on record after 2021 [4] Company Performance - Citigroup reported an 84% jump in advisory fees during the fourth quarter of 2025, contributing to record revenues for the bank in M&A advisory services [2] - CEO Jane Fraser highlighted significant progress in 2025, stating that investments are driving strong top-line growth across all five business segments [3] Competitive Landscape - Larger competitor JPMorgan Chase experienced only a 6% increase in M&A activity for 2025, indicating that Citigroup and other Wall Street banks are facing increased competition from boutique advisers like Evercore and PJT Partners [4] - The M&A market is currently characterized by a focus on mega deals, with large-cap companies outperforming small caps [5] Transaction Banking Transformation - Transaction banking is gaining strategic importance as its cost structure evolves, moving from legacy systems to technology-enabled services [6] - Citigroup's multiyear investment in data platforms and modernization efforts has led to over 80% of its transformation programs nearing completion, which has reduced operational risk and marginal costs in high-volume businesses [7]