Citigroup Inc News

The deal will include the transfer of about 3,600 Citi employees to Axis. Citi expects the release of about $800 million of allocated tangible common equity after the deal.

Michael Corbat`s annual total compensation was $17.8 million while the median annual total compensation of all Citi employees was $48,249.

Banks use Libor to set rates on hundreds of trillions of dollars of credit card, mortgage, student loan and other transactions, and to determine the cost of borrowing from one another.

The bank, due to report fourth-quarter earnings on Jan. 15, had 239,000 employees as of the end of September.

Primary dealers are the banks authorized to transact directly with the Federal Reserve who are big players in Treasury bond auctions and act as market makers in the secondary market.

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

Citigroup Inc`s consumer bank has been ordered to pay $700 million in relief to borrowers for illegal credit card practices, the U.S. Consumer Financial Protection Bureau said.

Citigroup CEO Michael Corbat Monday called on Prime Minister Narendra Modi and is believed to have discussed economic situation and bank's India plans.

Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank`s efforts to streamline its business may be starting to pay off.

Citigroup Inc reported its highest quarterly profit in nearly eight years as costs plunged, showing that the bank`s efforts to streamline its business may be starting to pay off.

"There has been a delay to our launch due to the FCA. We have informed our prospective investors," said Silver Ridge Asset Management cofounder Farhang Mehregani.

Citigroup Inc said additional government authorities have started probes of possible breaches of anti-money laundering laws at its Banamex USA unit.

Citigroup Inc cut Chief Executive Michael Corbat`s pay by about 10 percent in 2014, a year in which the bank`s profit nearly halved due to higher legal costs and a slump in bond trading.

Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank`s shares down more than 4 percent.

Citigroup Inc, in the midst of a pullback from consumer banking in a number of international markets, eked out a slim fourth-quarter profit after taking charges of $3.5 billion to settle legal claims and overhaul operations.

Mike Corbat`s announcement at a New York investor conference was the second time in six weeks the bank has had to tack on a massive legal charge.

Apple Inc is embarking on its most aggressive expansion yet onto corporate turf, hiring a dedicated sales force to talk with potential clients like Citigroup Inc and working in concert with a dozen or so developers, two sources familiar with its plans say.

Citigroup Inc said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries."

Citigroup Inc said it is pulling out of consumer banking in 11 markets, including Japan and Egypt, as the U.S. bank with the biggest international business looks to cut persistently high costs.