The battle between bank analyst and Citigroup ( C ) continued over the week. Mayo has been critical of Citigroup's treatment , or lack of treatment. toward its nearly $50 billion deferred tax assets (DTAs) and to the fact that management has not granted him a meeting in nearly two years. 
Share:  The battle between bank analyst and Citigroup ( <span class="company">C</span> ) continued over the week. Mayo has been critical of Citigroup's treatment , or lack of treatment. toward its nearly $50 billion deferred tax assets (DTAs) and to the fact that management has not granted him a meeting in nearly two years. Tweet this   read full story

Value Line, for example, gives Citi its lowest possible safety rank, a below average score for financial strength, and bottom or near bottom scores for price stability, price growth persistence and earnings predictability. "The company has above average appreciation potential over our projected three to five year period," said Gregg Brewer, Value Line's executive director of research. "But that assumes mostly positive outcomes all along the way. The other ranks and ratings highlight just how uncertain those positives could be.". 
Share:  Value Line, for example, gives <span class="company">Citi</span> its lowest possible safety rank, a below average score for financial strength, and bottom or near bottom scores for price stability, price growth persistence and earnings predictability.<span class="sent"> "The company has above average appreciation potential over our projected three to five year period," said <span class="analyst">Gregg Brewer</span>, Value Line's executive director of research.</span> "But that assumes mostly positive outcomes all along the way. The other ranks and ratings highlight just how uncertain those positives could be.". Tweet this   read full story

and potentially a motivated seller. Moreover, no one is going to forget the bailout, least of all Congress, which is still itching to add to the regulatory burdens that companies like Citigroup are facing. Couple that with penny pinching consumers and new rules that could cut into lenders' profits in the credit card industry, and you have storm clouds that will linger for years. More importantly, however, is that while Citi looks like a cheap stock, some numbers suggest otherwise. David Trainer, president of New Constructs Inc., a Nashville based research firm, said that at current levels, "Citi's stock price implies the company will grow its [net operating profits after tax] by over 15% per year for each of the next 25 years." 
Share:  and potentially a motivated seller. Moreover, no one is going to forget the bailout, least of all Congress, which is still itching to add to the regulatory burdens that companies like <span class="company">Citigroup</span> are facing. Couple that with penny pinching consumers and new rules that could cut into lenders' profits in the credit card industry, and you have storm clouds that will linger for years. More importantly, however, is that while Citi looks like a cheap stock, some numbers suggest otherwise.<span class="sent"> <span class="analyst">David Trainer</span>, president of New Constructs Inc., a Nashville based research firm, said that at current levels, "Citi's stock price implies the company will grow its [net operating profits after tax] by over 15% per year for each of the next 25 years."</span>...and potentially a motivated seller. Moreover, no one is going to forget the bailout, least of all Congress, which is still itching to add to the regulatory burdens that companies like <span class="company">Citigroup</span> are facing. Couple that with penny pinching consumers and new rules that could cut into lenders' profits in the credit card industry, and you have storm clouds that will linger for years. More importantly, however, is that while Citi looks like a cheap stock, some numbers suggest otherwise.<span class="sent"> <span class="analyst">David Trainer</span>, president of New Constructs Inc., a Nashville based research firm, said that at current levels, "Citi's stock price implies the company will grow its [net operating profits after tax] by over 15% per year for each of the next 25 years."</span>...Couple that with penny pinching consumers and new rules that could cut into lenders' profits in the credit card industry, and you have storm clouds that will linger for years. More importantly, however, is that while <span class="company">Citi</span> looks like a cheap stock, some numbers suggest otherwise.<span class="sent"> <span class="analyst">David Trainer</span>, president of New Constructs Inc., a Nashville based research firm, said that at current levels, "<span class="company">Citi</span>'s stock price implies the company will grow its [net operating profits after tax] by over 15% per year for each of the next 25 years."</span> That's a high hurdle for even the strongest businesses. In most cases, analysts expect <span class="company">Citi</span>group to perform about average for the financial services sector going forward, but note that the risks are far above average....More importantly, however, is that while <span class="company">Citi</span> looks like a cheap stock, some numbers suggest otherwise.<span class="sent"> <span class="analyst">David Trainer</span>, president of New Constructs Inc., a Nashville based research firm, said that at current levels, "<span class="company">Citi</span>'s stock price implies the company will grow its [net operating profits after tax] by over 15% per year for each of the next 25 years."</span> That's a high hurdle for even the strongest businesses. In most cases, analysts expect <span class="company">Citi</span>group to perform about average for the financial services sector going forward, but note that the risks are far above average. Value Line, for example, gives <span class="company">Citi</span> its lowest possible safety rank, a below average score for financial strength, and bottom or near bottom scores for price stability, price growth persistence and earnings predictability. Tweet this   read full story

The branches are also strategically located in high traffic areas, making it easy and convenient for customers to access. Darren Buckley, Citigroup Japan Country Head said: Innovating around our customers to significantly enhance their experience by delivering banking services in a more simple, convenient and accessible way across all our channels is at the heart of Smart Banking. Were very proud that our efforts have been recognized independently by the Nikkei Retail Banking Survey and we will be expanding this focus on customer centric innovation throughout our Citi Japan franchise. Citibank Japan is planning to open a number of new Smart Banking branches within the next twelve months, bringing the total number of retail banking branches across the country to 35. 
Share:  The branches are also strategically located in high traffic areas, making it easy and convenient for customers to access. <span class="sent"><span class="analyst">Darren Buckley</span>, Citigroup Japan Country Head said: Innovating around our customers to significantly enhance their experience by delivering banking services in a more simple, convenient and accessible way across all our channels is at the heart of Smart Banking.</span> Were very proud that our efforts have been recognized independently by the Nikkei Retail Banking Survey and we will be expanding this focus on customer centric innovation throughout our Citi Japan franchise. <span class="company">Citibank</span> Japan is planning to open a number of new Smart Banking branches within the next twelve months, bringing the total number of retail banking branches across the country to 35. Tweet this   read full story

Citigroup , the financial services firm, says it will close its Frederick office by the middle of next year and move most of the 940 workers elsewhere in the region. Relocated employees will either work from Citi's large Hagerstown site or from their homes, Citi spokeswoman Janis Tarter said Thursday 
Share:  <span class="sent"><span class="company">Citigroup</span> , the financial services firm, says it will close its Frederick office by the middle of next year and move most of the 940 workers elsewhere in the region.</span> Relocated employees will either work from Citi's large Hagerstown site or from their homes, Citi spokeswoman Janis Tarter said Thursday....<span class="sent"><span class="company">Citi</span>group , the financial services firm, says it will close its Frederick office by the middle of next year and move most of the 940 workers elsewhere in the region.</span> Relocated employees will either work from <span class="company">Citi</span>'s large Hagerstown site or from their homes, <span class="company">Citi</span> spokeswoman Janis Tarter said Thursday. The rest of the jobs about 40 will be cut. Tweet this   read full story

Number of jobs cut since recession began: 73,056 . In October 2008, a desperate Vikram Pandit, CEO of Citi, said the financial firm had no alternative than to cut 50,000 jobs as part of a plan to knock down expenses by 20%. The bank was reeling from subprime mortgage losses which had driven its stock down from $35 to under $4 in less than a year. Lehman Brothers had just collapsed and investors holding shares in America's largest banks were in a panic. 
Share:  Number of jobs cut since recession began: 73,056 . <span class="sent">In October 2008, a desperate <span class="analyst">Vikram Pandit</span>, CEO of Citi, said the financial firm had no alternative than to cut 50,000 jobs as part of a plan to knock down expenses by 20%.</span> The bank was reeling from subprime mortgage losses which had driven its stock down from $35 to under $4 in less than a year. Lehman Brothers had just collapsed and investors holding shares in America's largest banks were in a panic. Tweet this   read full story

Some $362 billion of assets have already been sold or wound down, leaving $465 billion (a quarter of group assets). Citi has also offloaded better off businesses, such as its German branch network and Smith Barney, a brokerage. This "healthy shrinkage" will continue as quickly as is economically rational, says Pandit. It goes hand in hand with a general efficiency drive 
Share:  Some $362 billion of assets have already been sold or wound down, leaving $465 billion (a quarter of group assets). <span class="sent">Citi has also offloaded better off businesses, such as its German branch network and Smith Barney, a brokerage.</span> This "healthy shrinkage" will continue as quickly as is economically rational, says <span class="analyst">Pandit</span>. It goes hand in hand with a general efficiency drive....Citi has also offloaded better off businesses, such as its German branch network and Smith Barney, a brokerage. <span class="sent">This "healthy shrinkage" will continue as quickly as is economically rational, says <span class="analyst">Pandit</span>.</span> It goes hand in hand with a general efficiency drive. About $13 billion has already been shaved from an annual cost base that in.. Tweet this   read full story

Citigroup is preparing to put Egg, its UK online bank, up for sale as part of the US financial group’s plan to shed billions of dollars in unwanted assets, according to people close to the situation. 
Share:  <span class="sent">Citigroup is preparing to put Egg, its UK online bank, up for sale as part of the US financial group’s plan to shed billions of dollars in unwanted assets, according to people close to the situation.</span> Tweet this   read full story

Citigroup (C.N) is poised to put its UK online bank Egg up for auction as part of a plan to dispose of more than $800 billion in unwanted assets, the Financial Times said on Wednesday. Virgin Online, one of Egg's rivals, is thought to have signalled it is not interested in Egg, the paper said. 
Share:  <span class="sent">Citigroup (C.N) is poised to put its UK online bank Egg up for auction as part of a plan to dispose of more than $800 billion in unwanted assets, the Financial Times said on Wednesday. Virgin Online, one of Egg's rivals, is thought to have signalled it is not interested in Egg, the paper said.</span> Tweet this   read full story

Citigroup (C.N) is poised to put its UK online bank Egg up for auction as part of a plan to dispose of more than $800 billion in unwanted assets, the Financial Times said on Wednesday. Egg, which was created by Prudential plc (PRU.L) before being sold to Citi in 2007, could attract interest from UK and international groups, including Spain's Santander (SAN.MC) and Tesco's Metro Bank (MBFS.PK), the FT said. 
Share:  <span class="sent">Citigroup (C.N) is poised to put its UK online bank Egg up for auction as part of a plan to dispose of more than $800 billion in unwanted assets, the Financial Times said on Wednesday. Egg, which was created by Prudential plc (PRU.L) before being sold to Citi in 2007, could attract interest from UK and international groups, including Spain's Santander (SAN.MC) and Tesco's Metro Bank (MBFS.PK), the FT said.</span> Tweet this   read full story

It is going to take years to accomplish. A story from Sky News in the U. K is signaling that Egg, Citi's internet banking operation, is going to be put up for sale. 
Share:  It is going to take years to accomplish.<span class="sent"> A story from Sky News in the U. K is signaling that Egg, <span class="company">Citi</span>'s internet banking operation, is going to be put up for sale.</span> Tweet this   read full story