CITIGROUP, INC

Citigroup, Inc., currently headquartered in New York City, was formed through the merger of Citicorp and Travelers Group to form this American multinational investment bank and financial services corporation.

Citigroup, Inc. has a rich history that dates back to 1998 when the $140 billion merger was completed with the purpose of creating the largest financial services organization in the world.

• Through the merger, Travelers Group was put in an advantageous position to market mutual funds as well as insurance to Citicorp’s retail customers while simultaneously providing banking divisions with access to a significant client base.

Citicorp’s shares were acquired wholly by Travelers Group for approximately $70 billion in stock with the existing shareholders of each company owning around half of the newly formed firm, Citigroup, Inc.

The name still contained the ‘Citi’ brand within its name, but in addition, the Travelers Group “red umbrella” was adopted as the new corporate logo. This logo was only used until 2007 and it was subsequently sold.

Associates First Capital Corporation was acquired by Citigroup, Inc. in 2000 for a total of $31.1 billion in stock followed by both European American Bank and Banamex in 2001.

In 2002, Citigroup, Inc. spun off Travelers Property and Casualty insurance which was largely prompted by noticeable drag in Citigroup, Inc’s insurance unit as the Travelers earnings were significantly more seasonal and vulnerable especially with September 11 attacks.

During 2004, there was a merger between Travelers Group and The St. Paul Companies, Inc. which resulted in the forming of The St. Paul Travelers Companies. The life insurance along with annuities underwriting were still retained by Citigroup, Inc.

Both the life insurance and annuities underwriting businesses were sold to MetLife in 2005 and although Citigroup, Inc. still sells life insurance through Citibank, it is no longer in the business of underwriting such.

The sale of the red umbrella logo occurred during 2007 when it was repurchased by St. Paul Travelers Companies.

During 2008, Citigroup, Inc. faced a period of insolvency with plans announced to cut around 52,000 jobs in addition to the 23,000 cuts that had been made already with consecutive losses and reports that the company would be crippled until 2010.

During late 2008, a plan with the purpose of stabilizing Citigroup, Inc. was approved by both Federal regulators and Citigroup, Inc. itself in which further deterioration would be forestalled.

A significant bailout for Citigroup, Inc. was announced by the U.S government shortly after with the purpose of rescuing the company from total bankruptcy while simultaneously providing the government with a significant say in operations.

In early 2019, the announcement was made that Citigroup, Inc. intended to reorganize itself in two respective operating units, Citicorp for retail as well as institutional client business and Citi Holdings for brokerage as well as asset management.

The aim, despite the reorganization, was that Citigroup, Inc. would still operate as a single company, but this was opposed, and the spin-offs were ruled out.

In 2019, the staff compliment of Citigroup, Inc. consisted of around 204,000 employees and its capital ratio reported during the same year was 11.8%.

In 2010, following the financial crisis experienced in 2007, Citigroup, Inc. achieved its first profitable year with net profit at a total $10.6 billion compared with a substantial loss of $1.6 billion in 2009.

The U.S government, who had up until that time held 36% equity stake sold its remaining stock holding in Citigroup, Inc. and as a result, this yielded an overall net profit to taxpayers of $12 billion.

From 2011, Citigroup, Inc. saw expansion of both retail banking operations and credit card operations and in 2012 Citi orient Securities was formed during a Chinese investment banking joint venture.

Citigroup, Inc. oversees a high-value, extensive and vast portfolio consisting of investment banking in addition to providing financial services ranging from global consumer banking, securities, transaction services, and more.

Today, Citigroup, Inc. is ranked third on the list of largest banks in the United States alongside other banking giants such as JPMorgan Chase, The Bank of America, and Wells Fargo, making it one of the Big Four banks situated in the United States.

Despite substantial losses experienced over a decade ago, Citigroup, Inc. has seen tremendous growth and expansion in recent years and according to Bloomberg, Citigroup, Inc. was ranked tenth in advising mergers not only in Europe, but in the Middle East and Africa during 2018 while ranking third in America.

Citigroup, Inc. is set apart in a league of its own from its competitors, not only by performance alone, but also because of the amount of deposits it holds outside of the United States, which has substantially increased its international presence.

The business model used is aimed at ensuring footholds in other countries with the purpose of attracting deposits from these countries in addition to helping other global corporations with the issuing of debt and equity, risk management and more.

With the emergence and spread of Covid-19, Citigroup, Inc. has made conceited efforts to provide support and assistance not only to its employees with once off payments of $1,000 but also customers by waiving late fees, amidst other assistance.

Amidst the pandemic, with numerous companies reflecting the financial strain brought on by the widespread impact of Covid-19, Citigroup, Inc. has not been an exception with a shares drop of 3.3% to $43.91.

In addition to this revenue jumped by 12% YOY due to the higher income on both fixed income along with equity markets and although financials for the first quarter of 2025 shows the resulting impact, Citigroup, Inc. has managed its expenses.

With a deteriorating economic outlook along with the transition to a new Current Expected Credit Loss Stander, or CECL, loan loss reserves were reported, resulting in an increase of loan reserves to $4.9 billion in preparation for a likely recession in the United States.

Citigroup, Inc. trades its shares on the New York Stock Exchange (NYSE) under the stock symbol C and it forms part of both the S&P 100 and S&P 500 components.

An analysis on the data presented in the earnings release pertaining to the market performance for Citigroup, Inc. for the first quarter of 2025 indicated a net income of $2.5 billion in addition to revenues of $2.70 billion.

The return of capital to common shareholders was a total of $4.0 billion in addition to 41 million common shares being repurchased with the book value per share indicated as $83.75 and a tangible book value of $71.52 per share.

Despite ongoing concerns surrounding the Covid-19 pandemic, Citigroup, Inc. saw a significant increase of 12% in revenue YOY. Although financial forecasts are, at this stage, precarious, shareholders who buy or sell shares can yet expect solid dividends and returns.

Financial

Financial Services, Banking

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• Can I buy Citigroup, Inc shares in South Africa?
  Yes, you can.

• How to buy Citigroup, Inc shares
  By simply opening a free account on SA Shares, or by clicking the “Buy this Share” button to get started.

• What is the current share price?
  By clicking on the link provided above, you can view the real-time Citigroup, Inc share price on the platform.

• Is Citigroup, Inc. a good share to buy?
  No, not at the present time. It is advisable to wait until further announcements are made with regards to how Citigroup, Inc. plans to more forward in managing and mitigating the impacts of Covid-19.

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  Yes, you can.