Citigroup Inc,’s stock C, -1.77% was up by 4% in premarket trading on Friday after its profit excluding multiple one-time items beat analyst estimates. Chief Executive Jane Fraser said the quarter “was very disappointing due to the impact of notable items” but the bank made “substantial progress” executing its strategy to simplify the bank. Citi is laying off 7,000 people as part of its restructuring. Citigroup said its fourth-quarter net loss including all items was $1.8 billion, or $1.16 a share. In the ...

Core Insights - Citigroup reported its fourth quarter and full-year 2023 results, which are accessible on its official website [1] - A conference call is scheduled for today at 12:00 PM (ET) to discuss these results, with a live webcast available for attendees [1] Company Overview - Citigroup is a leading banking partner for institutions with cross-border needs and a global leader in wealth management [2] - The company operates in nearly 160 countries and jurisdictions, offering a wide range of financial products and services to corporations, governments, investors, institutions, and individuals [2]

Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023.Citigroup is scheduled to report fourth-quarter earnings before the opening bell Friday.Here's what Wall Street expects:Earnings: 81 cents a share, according to LSEG, formerly known as Refinitiv.Revenue: $18.74 billionNet Interest Income: $13.19 billion, according to StreetAccountTrading Revenue: F ...

NEW YORK--(BUSINESS WIRE)--The Board of Directors of Citigroup Inc. today declared a quarterly dividend on Citigroup’s common stock of $0.53 per share, payable on February 23, 2024 to stockholders of record on February 5, 2024. The Board of Directors of Citigroup Inc. also declared dividends on Citigroup’s preferred stock as follows: – 5.350% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series D, payable February 15, 2024, to holders of record on February 5, 2025. Holders of depositary receipts ...

KEY TAKEAWAYSCitigroup shares fell after it reported higher fourth-quarter charges than previously anticipated linked to its exposure to Argentina and Russia, as well as its restructuring.Citi said it set aside $1.3 billion in reserves to cover its exposure to Argentina and Russia.The FDIC's special assessment led to expenses of $1.7 billion.Citi is due to release its fourth-quarter results Friday morning.Citigroup (C) shares fell more than 2% in early trading Thursday after it reported higher fourth-quarte ...

Citigroup Inc. (C) disclosed certain items impacting its pre-tax fourth-quarter 2023 results to enhance transparency. Citigroup recorded combined charges and reserves of $3.78 billion, which is expected to affect its fourth-quarter earnings.C added $1.3 billion to its reserves to protect itself against risk exposures in Argentina and Russia. The currency devaluation and geopolitical risks in Argentina are likely to have affected its ability to sustain external debt service. C, therefore, set aside $720 mill ...

About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Citigroup warned investors late Wednesday that charges tied to the decline of the Argentine peso as well as the bank's reorganization came in far higher than disclosed by the company's CFO just weeks ago.The bank said its fourth-quarter results, scheduled to be released Friday morning, were impacted by $880 million in currency conversion losses from the peso and $780 million in restructuring charges tied to CEO Jane Fraser's corporate simplification project.Those charges are significantly higher than the "c ...

Citigroup Inc. on Wednesday said it set aside $1.3 billion in the fourth quarter to account for risks in Argentina and Russia, citing shocks to both nations’ economies, and said it booked other charges related to its own organizational overhaul and payments stemming from last year’s bank failures. The disclosure from the bank, in an SEC filing, was made as it prepares to report fourth-quarter results on Friday, and as Argentina undergoes harsh austerity measures and Russia deals with the fallout from its wa ...

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