Citigroup Inc
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Financials : Banks | Large Cap Value
Company profile

Citigroup Inc. is a diversified financial services holding company. The Company provides a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. Its operating business segments include Institutional Clients Group (ICG), Personal Banking and Wealth Management (PBWM), Legacy Franchises and Corporate/Other. ICG segment consists of services, markets, and banking that provides corporate, institutional, and public sector clients with a range of wholesale banking products and services. The Company’s PBWM segment consists of United States (US) personal banking and global wealth management, providing traditional banking services and credit cards to retail and small business customers in the U.S. Its Legacy Franchises segment includes Asia consumer banking, Mexico consumer banking/Mexico small business and middle-market banking (SBMM) and legacy holdings assets.

Closing Price
$53.19
Day's Change
0.00 (0.00%)
Bid
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Ask
--
B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
54

10-day average volume:
15,307,254
54

Citi Launches New Deposit Solutions to Support Clients' Sustainability Agenda

4:54 am ET May 25, 2022 (BusinessWire) Print

Citi has announced the launch of new deposit solutions designed to assist clients in investing excess cash as part of their sustainability agenda.

The two new deposits - Sustainable Time Deposit (TD) and Sustainable Minimum Maturity Time Deposits (MMTD) - deliver competitive yields and are based upon Citi's green and social bond frameworks, supporting the Sustainable Development Goals (SDGs).

Czeslaw Piasek, EMEA Head of Liquidity Management Services, Treasury and Trade Solutions, Citi, commented: "Sustainability is no longer an executive level only discussion. Finance and treasury departments can play a strategic role in helping their firms to deliver on Environment, Social and Governance (ESG) -related goals and become more sustainable businesses. Our new series of deposit solutions reflect Citi's commitment to helping our clients advance ESG commitments in their treasuries through a range of sustainable financing- and ESG-linked investment services."

Funds invested into the deposits are allocated to finance or refinance assets in a portfolio of eligible green and/or social finance projects, based on criteria set in the Citi Green Bond Framework, Social Finance Framework and Social Bond for Affordable Housing Framework.

Types of projects being financed include:

Green projects including renewable energy, energy efficiency, sustainable transportation, green building, and water quality and conservation. Social projects that expand access for low-income communities and women in emerging markets including affordable basic infrastructure for water/sanitation and digital connectivity, as well as essential services such as healthcare, education, affordable housing, and financing for entrepreneurs and smallholder farmers. Affordable Housing projects in the U.S. including the construction, rehabilitation, and/or preservation for low and moderate income populations.

David Tsui, EMEA Head of Deposits and Investments Products, Treasury and Trade Solutions, Citi, added "The expansion of our sustainable product suite is one of the steps we are taking to provide more comprehensive sustainable cash management solutions to clients. We are delighted to be partnering with treasurers to explore new and innovative ways to support their sustainability objectives."

Both deposits are now available in the U.K., Ireland, and Abu Dhabi.

Citi's Frameworks are aligned with the recommendation of the International Capital Market Association's Green Bond Principles and Social Bond Principles and have been assessed by a leading independent ESG and corporate governance research, ratings, and analytics firm.

As cash deposit transactions, TD or MMTD are not securities and the return of the TDs and MMTDs are not linked to the return of the underlying assets.

-ENDS-

About Citi's Treasury and Trade Solutions

Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Remarks

There is currently no market consensus when assessing whether or not a product can be classified as 'sustainable'. The legislation and regulatory landscape is undergoing rapid changes which could affect Citi's position when considering its investments in certain assets. Citi may re-evaluate its asset pools, and all applicable eligibility requirements in the future following regulatory developments; this is to ensure compliance with legal requirements when qualifying an asset as 'sustainable'. To the extent any such changes are made, the updated framework will be published on https://www.citigroup.com/citi/fixedincome/csd_securities.htm.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: https://blog.citigroup.com/ | Facebook: www.facebook.com/citi | LinkedIn:www.linkedin.com/company/citi

View source version on businesswire.com: https://www.businesswire.com/news/home/20220525005481/en/

SOURCE: Citi

Media: 
Belinda Marks Belinda.marks@citi.com
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