A top mining magnate and a little-known bank backed by major global investors are among initial bidders for Citigroup’s Mexican unit, according to people with knowledge of the talks.

As the potential for a recession looms, the New York bank is continuing with its plan to grow wealth management and shrink its foreign consumer banking footprint.

Warren Buffett's Berkshire Hathaway, which cut many bank holdings as the pandemic bore down on the U.S., is back with a roughly $2.9 billion bet on Jane Fraser’s Citigroup even as it said goodbye to a longtime stake in Wells Fargo.

The wealth programs in the channel are going through a significant shift amid major recruiting moves and consolidation, according to a consultant’s report.

Ana Botin, the chair of Banco Santander, called Mexico a “growth engine” for the bank but cautioned that the lender would only seek to buy Citigroup’s retail business in the country if certain requirements are met.

The move from Republican senators mirrors an effort launched in the House, where Citibank also provides credit cards for congressional business. Republicans will be unable to enact such changes unless they take either chamber in upcoming elections.

The Office of the Comptroller of the Currency's decision to lift the order is a win for Citi, which has been working to address two other, more recent consent orders with the OCC and the Federal Reserve.

Despite better-than-expected trading results, Citigroup reported a 46% decline in first-quarter earnings stemming largely from soaring noninterest costs and a $1.9 billion provision for souring loans tied to Russia.

Two Republican lawmakers are calling for the cancellation of U.S. government contracts with Citigroup after the banking giant vowed to cover travel costs for employees seeking abortions

Citigroup agreed to sell its India retail banking business for about 123 billion rupees ($1.6 billion) cash to Axis Bank, as the U.S. lender seeks to consolidate its operations in identified markets.

Citigroup’s Greg Girasole and Alex Kriete, who were tapped by the bank last year to oversee a new digital-assets group inside its wealth management division, are departing. 

Citigroup says it will add about 900 staffers over the next three years as part of an effort to generate more revenue from midsize firms with global ambitions.

Citigroup offers both institutional and consumer banking services in Russia, but has been working to exit the consumer business as part of a larger strategy.

Raymond Gatcliffe, the head of Citigroup's commercial bank in Europe, the Middle East and Africa, will replace Richard Banziger, who is retiring after 38 years with the company.

Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.

Overall the company reported fourth-quarter profits of $3.17 billion, which fell short of analysts' forecasts as borrowing declined on Citi-branded cards, fixed-income trading tumbled and one-time charges mounted.

Citigroup is offloading its consumer-banking businesses in Indonesia, Malaysia, Thailand and Vietnam as CEO Jane Fraser continues her push to simplify the New York-based bank.

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

The measure bans banks that discriminate against gunmakers from entering into government contracts. Citigroup, which supporters of the law were targeting, has lost market share while Bank of America and JPMorgan Chase have gained ground.