Items Tagged with 'Citi Holdings'


  • Citi Posts $4.3 Billion Profit after Smith Barney Sale

    On the back of the sale of Smith Barney brokerage unit, Citigroup [stock C][/stock] posted a $4.3bn Q209 profit, or $0.49 per share. Citi completed its sale of Smith Barney to Morgan Stanley [stock MS][/stock] on June 1, earlier than the original estimated close in Q309. That deal earned the bank $11.1bn pre-tax, $6.7bn after taxes. Citi's quarterly profit shows an improvement from a $2.5bn loss in Q208. The banking giant reported total revenue of $30bn in Q209, up $12.4bn from Q208, but that included the one-time sale of Smith Barney.
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  • Citi Posts Q1 Profit Against Expectations

    Three government rescues and billions in losses later, Citigroup Inc.'s [stock C][/stock] quarterly loss contracted to $966m, or 18 cents per share in first-quarter 2009, the company said Friday morning. That's down from a loss of $5.19bn, or $1.03 per share, a year earlier. Citi's first-quarter revenue jumped 99% year-on-year to $24.79bn. By contrast, bank analysts expected a loss of 30 cents per share on revenue of $21.73bn, according to Thomson Reuters.
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  • Citi Shuffles Executives in Restructuring Efforts

    Citigroup Inc. [stock C][/stock] announced Friday it will move Gary Crittenden from the role  of chief financial officer of Citi to chairman of Citi Holdings, the branch the bank plans to split off from its core business. In the new role, Crittenden will work to "optimize the value of the businesses" of the unit, which represents a significant portion of Citi's assets, bank officials said in a media statement.
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