her Eleftherias Kourtalis Greece, together with the Netherlands and Italy, are the countries that are most vulnerable – both on the fiscal front and on the energy front – and will benefit the least from EU support measures for the energy market, Citigroup estimates in today’s analysis. There are three main questions that have arisen […]
Tag: Citigroup
Citigroup: Ends operations in Russia
Citigroup has announced it will end its operations in Russia, in a move expected to affect 2,300 employees and 15 branches. “Citi will also continue to actively pursue sales of certain Russian consumer banking portfolios,” the bank said. Traffic includes Citi deposits, investments, loans and cards. The Bank emphasized that it will incur costs of […]
Citigroup struggled to track UK traders who made $3.1bn
In 2017, after Citigroup Inc. had paid billions of dollars in fines for manipulating interest rates, manipulating currency markets and selling shoddy mortgage bonds, the Wall Street giant was still struggling to keep up with traders in London, according to Bloomberg. Managers overseeing Citigroup’s European trading hub had hundreds of blind spots, allowing potentially abusive […]
JPMorgan and BofA among banks facilitating exit from Russian bonds
A growing number of Wall Street banks are willing to trade Russian bonds that were once considered “untouchable,” according to Bloomberg. JPMorgan and Bank of America are among several banks that have offered to facilitate trades in corporate and government debt on behalf of clients, according to people with knowledge of the matter who spoke […]
Deutsche Bank, Citi, Axia and JP Morgan say they are impressed by the results of National Bank and Eurobank
Her Eleftherias Kourtalis The investment houses send a strong message regarding the prospects of Greek banks after the second quarter results announced by Ethniki and Eurobank with Deutsche Bank, Citi, Axia and JP Morgan underlining the significant improvement in their sizes and they say impressed. EGE National Bank posted a strong set of results in […]
Shock U-turn from Citi: Worst-case scenario for Eurozone is coming true – Deep recession inevitable
Her Eleftherias Kourtalis Today, Citigroup made a significant change in its assessment of the course of the European economy, stressing that the worst-case scenario is now the main one for the region, with the deep recession hitting with certainty and noise. As it notes, its recent assessment of a mild recession in the eurozone has […]
Santander: It will not make a bid for Citigroup’s Mexican subsidiary Banamex
Banco Santander has announced it will no longer participate in the bidding process for Citigroup’s retail unit in Mexico, known as Banamex. The Spanish bank had submitted a non-binding offer for the unit in question, but was told it would not proceed to the next stages of the process, it said in a statement. Santander […]
Citi: Equities and Bond Impacts from ECB Decisions and Political Crisis in Italy – Periphery at Risk
Her Eleftherias Kourtalis The ECB is set to raise interest rates for the first time in more than a decade while unveiling its new anti-fragmentation tool. However, the market has already marked a strong de-rating in anticipation of these moves, as noted by Citigroup. “We are less concerned about the further decline in valuations and […]
Citi: Russian gas cut will push eurozone into recession and stocks into new sell-off
By Eleftherias Kourtalis A cut in gas supplies from Russia could reduce Eurozone GDP by more than 1%, and that would mean a 10% contraction in earnings per share (EPS) of European companies over the next 12 months, Citigroup estimates. According to her calculations, the market is pricing in an economic slowdown, but not a […]
Citi: Interruption of Russian gas flows will push the Eurozone into recession and stocks into a new sell-off
By Eleftherias Kourtalis A cut in gas supplies from Russia could reduce Eurozone GDP by more than 1%, and that would mean a 10% contraction in earnings per share (EPS) of European companies over the next 12 months, Citigroup estimates. According to her calculations, the market is pricing in an economic slowdown, but not a […]