Citigroup Inc (C.N) said on Friday it has discovered fraud in its Mexico subsidiary and is reducing its previously reported 2013 net income by $235 million. The company said in a statement the matter involved about $585 million in short-term credit extended by its Banamex unit to Oceanografia SA de […]
Tag: Citigroup Inc
Portugal Holds Second 2014 Bond Sale as Bailout Exit Approaches
Portugal is selling debt maturing in 2024 via banks, according to a person familiar with the plan, its second bond sale this year as the nation approaches the end of its three-year international bailout program. The additional 10-year securities may yield 320 to 325 basis points more than the mid-swap […]
Citigroup CEO Vikram Pandit resigns
Citigroup Inc Chief Executive Vikram Pandit has resigned, effectively immediately, a shock change at the top of the bank just one day after surprisingly strong quarterly results. A statement on Tuesday from Chairman Michael O’Neill said Michael Corbat, previously chief executive for Europe, Middle East and Africa, would succeed Pandit […]
