69.60 0.00 (0.00%)
After hours: 7:35PM EDT
|Bid||69.56 x 1800|
|Ask||69.66 x 3200|
|Day's range||69.18 - 70.34|
|52-week range||48.42 - 73.08|
|Beta (3Y monthly)||1.89|
|PE ratio (TTM)||9.24|
|Earnings date||14 Jan 2020|
|Forward dividend & yield||2.04 (2.94%)|
|1y target est||82.77|
(Bloomberg) -- Dubai’s biggest bank is seeking to raise 6.45 billion dirhams ($1.76 billion) from a rights share offering as it expands abroad and courts more foreigners to its stock.The state-controlled Emirates NBD PJSC plans to offer 758.8 million shares at 8.5 dirhams each, it said in a statement. That compares with its closing price of 13.15 dirhams on Oct. 16 and represents a discount of about 35%. The issue opens Nov. 10 and will close Nov. 20.The shares dropped 3.8% at 12.65 dirhams at 11:31 a.m. in Dubai, dragging the exchange’s benchmark index 1.4% lower. For the year, the shares are up more than 40%.Emirates NBD last year proposed selling new shares to help fund the acquisition of Turkey’s Denizbank AS. The lender plans to use the proceeds of the sale to strengthen its capital base and support growth, according to Thursday’s statement.Lenders in the six-nation Gulf Cooperation Council are trying to broaden the base of their investors as a combination of low oil prices, slowing economic growth and geopolitical upheavals drain inflows.Emirates NBD last month raised the cap on foreign ownership holding in its shares to 20% from 5%, with plans to seek shareholders’ approval to double the new limit. It also raised raised 305 million pounds ($373 million) from the sale of a stake in London-listed Network International Holdings Plc.Read More: Dubai’s Biggest Bank Joins Rivals to Draw Foreign InvestorsEmirates NBD Capital PSC, the bank’s investment banking unit, is managing the rights share offering, while Citigroup Inc., Morgan Stanley, Clifford Chance LLP and Matouk Bassiouny & Ibrahim are acting as advisers.(Updates with share price move in third paragraph.)To contact the reporter on this story: Arif Sharif in Dubai at firstname.lastname@example.orgTo contact the editors responsible for this story: Shaji Mathew at email@example.com, Alaa ShahineFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Citigroup Inc has named Peter Babej, the U.S. bank's global head of financial institutions group, as its new Asia Pacific chief executive officer, according to an internal memo seen by Reuters on Thursday. Babej joined Citi in 2010 as co-head of the financial institutions group after having previously worked at Deutsche Bank and investment bank Lazard , according to the memo sent to staff by Citi global CEO Mike Corbat.
Citi has signed a purchase and sale agreement for 580 CrossPoint Parkway in the CrossPoint Business Park and approximately nine acres of adjacent land from owner Uniland Development Company. This building purchase is a part of Citi’s Amherst office complex, and demonstrates Citi’s long-term commitment to remain in Western New York. With this transaction, Citi will own the 158,000 square foot building located at 580 CrossPoint Parkway and will extend its lease with Uniland on the conjoined 107,000 square foot building located at 540 CrossPoint Parkway.
Wall Street closed Tuesday's trading session at more than three-week high, thanks to better-than expected third quarter 2019 earnings of mostly major American banks.
(Bloomberg) -- Citigroup Inc. is set to price its second sterling bond this year, after rushing into the market before a European Union meeting that will be key for Brexit.The lender offered the previously unannounced 650 million pound ($833 million) bond just a day after reporting better-than-expected earnings, and as U.K. and EU negotiators seek to hammer out a Brexit accord before a summit starting on Thursday. Optimism that a deal can be reached has bolstered the pound and U.K. assets this week.We “wanted to get ahead of the EU summit given the recent positive tone,” said Tim Michael, a Citigroup bond syndicate managing director.The U.S. bank was able to tighten pricing on the seven-year note by about 10 basis points to 140 basis points above gilts at final terms, Michael said. Citi is the sole bookrunner on the deal.READ MORE: Citigroup GBP650m 7Y UKT+140The offering came amid varying news reports that suggested the Brexit talks were either close to success or near collapse. The pound swung between gains and losses as U.K. Prime Minister Boris Johnson sought a deal that can satisfy EU leaders as well as garnering support from divided U.K. lawmakers ahead of the country’s planned Oct. 31 departure from the EU.Citigroup last sold a syndicated sterling note in January after an almost 10-year absence. It priced the 750 million-pound five-year bond at 175 basis points over gilts. Those notes have since tightened by more than 50 basis points, according to pricing source CBBT.To contact the reporter on this story: Priscila Azevedo Rocha in London at firstname.lastname@example.orgTo contact the editors responsible for this story: Hannah Benjamin at email@example.com, Neil DenslowFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Sandy Weill still has the checkbook he used in 1967 to make the first donations of the Weill Family Foundation. One was for $10, to his temple. The biggest was for $100.Since then, he and his wife Joan have given away more than $1 billion, often in much larger amounts: $250 million to the medical school at Cornell University in 2007 and $185 million to start a neuroscience institute at University of California San Francisco in 2016. And they’re not done yet, said Weill, 86, with gifts coming in areas new to them, like artificial intelligence and big data.Still, it took Weill 30 years to reach $100 million in giving at Carnegie Hall. It became official Tuesday night when the hall announced a $14.6 million gift from the Weills, partly to endow music education and teacher-training programs in New York City public schools.Not that Weill was counting.“Robert Smith was counting,” Weill said, referring to the private equity billionaire who is Carnegie Hall’s chairman, a role he held from 1991 to 2015. “I had no idea what we had done or not done, and then he told me, ‘Do you know if you give $4.6 million more, you will have surpassed $100 million? I said, ‘You’re some salesman.’”Matched GiftsActually, Weill does recollect some of the increments. After joining Carnegie Hall’s board in 1983, when he was president of American Express, he gave $2 million toward the building’s restoration. For his 70th birthday -- soon after he’d left the top job at Citigroup -- Carnegie Hall ran a campaign to build an endowment for music education in his honor. The Weills agreed to match gifts, with $60 million raised, though Carnegie Hall only credited him for $30 million, Weill said.While Carnegie Hall’s acoustics are a favorite of artists, orchestras and audiences, expanding education programs is the most important mark Weill says he’s made on the institution, which was built by Andrew Carnegie with an initial $2.1 million investment in the 1890s.“What our country has done is we’ve taken music education out of the school system, yet it’s probably the most cost effective way of really helping people in their development,” Weill said. “Young people that have an affinity with a musical instrument, their brains usually grow larger, and they’re better in math and science.”‘Old Man’The next era at Carnegie Hall will belong to Smith, Weill said. “I’m like an old man at Carnegie Hall. I’ve had my time to help.”The Weills’s gifts created an infrastructure for music education that makes expansion possible, Smith said in an interview. “This is about scale and sustainability.”While reaching $100 million may be an invitation to move on, Carnegie Hall will always be the place where Weill entered the big time of elite giving. “When I came in 1983, I didn’t know anything about fundraising, not much about philanthropy, but I had a big mouth,” he said.Little did he know philanthropy would become his second career. “Everybody thought I was going to die at my desk and never retire. I didn’t know what it was going to be like to be out of that power position. But I’ve had another life besides just running a big financial institution.”At a reception Tuesday evening in the Weill Terrace Room, Joan Weill got the last word about her husband’s devotion to Carnegie Hall, after guests had taken in a performance by the Philadelphia Orchestra, sipped egg creams and perused photos of the couple, many at galas that she had selected for display.“The music, the people, the privilege of seeing these children being educated,” she said. “We have gotten so, so much out of it.”(Updates with Joan Weill’s comment in last paragraph.)To contact the reporter on this story: Amanda Gordon in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Pierre Paulden at email@example.com, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Citi, acting through Citibank N.A., has been appointed by Tate & Lyle PLC , as successor as depositary bank for its sponsored Level 1 American Depositary Receipt programme.
U.S. S&P500 futures fell 0.3% also on rising caution over U.S-China trade deal after China lambasted new legislation taking a hard line on China. U.S. and European shares had jumped on Tuesday as officials and diplomats involved in Britain's negotiations with the EU said differences between the two sides had been narrowed significantly. The pound had strengthened nearly 5% over the past week as investors rushed to reprice the prospect of a last-minute Brexit deal before the end-October deadline.
Wall Street advanced on Tuesday as third-quarter reporting season hit with a spate of upbeat earnings reports that brought buyers back to the equities market. All three major U.S. stock averages gained ground in a broad-based rally, with the S&P 500 and the Nasdaq hitting their highest closing level in more than three weeks. "Positive earnings are flowing through equity markets today, suggesting that things weren't as bad as investors thought," said Charlie Ripley, senior market strategist for Allianz Investment Management in Minneapolis.
Mark Mason, Chief Financial Officer, and Michael Verdeschi, Treasurer, will conduct the Citigroup third quarter 2019 Fixed Income Investor Review at 11:00 AM on Tuesday, October 29, 2019.
Citigroup Inc. is redeeming, in whole, all $1.5 billion aggregate liquidation preference of Depositary Shares representing interests in its 5.800% Fixed Rate/Floating Rate Noncumulative Preferred Stock, Series N .
Citigroup (C) delivered earnings and revenue surprises of 1.02% and -0.12%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?
Wall Street jumped on Tuesday as third-quarter reporting season kicked into high gear with a spate of upbeat earnings reports that brought buyers back to the equities market. "It's all going to be about earnings for the next couple of weeks and that's a good thing," said Oliver Pursche, chief market strategist at Bruderman Asset Management in New York. Major financial firms JPMorgan Chase & Co, Citigroup Inc, Goldman Sachs Group Inc and Wells Fargo & Co all posted results, as did healthcare giants Johnson & Johnson and UnitedHealth Group Inc.
Mexico's Senate aims to pass a first raft of bills to regulate fees for financial services by the end of October, said Ricardo Monreal, Senate leader of the ruling National Regeneration Movement (MORENA) party. Last November, shortly before President Andres Manuel Lopez Obrador took office, MORENA lawmakers presented a bill to limit bank fees, sparking an investor backlash that pummeled the peso , Mexico's S&P/BMV IPC stock index and banking shares.