Citigroup Inc.
Citigroup Announces Decrease in Stress Capital Buffer and Preliminary CET1 Capital Ratio
Summary
Citigroup Inc. reported a decrease in its indicative Stress Capital Buffer (SCB) requirement to 4.1% effective October 1, 2024, down from the current 4.3%. The preliminary Standardized Common Equity Tier 1 (CET1) capital ratio regulatory requirement is set at 12.1%, a reduction of 20 basis points from the current 12.3%. Citi's planned capital actions include an increase in the quarterly common stock dividend from $0.53 to $0.56 per share starting in the third quarter of 2024.
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About Citigroup Inc.
Citigroup Inc. is a leading global financial services corporation, providing a broad array of financial products and services to consumers, corporations, governments, and institutions. As a diversified financial institution, Citigroup's primary function is to offer retail banking, commercial banking, investment banking, and wealth management services. The company plays a significant role in sectors such as consumer banking, treasury and trade solutions, and securities services, making it a pivotal player in the financial services industry. Headquartered in New York City, Citigroup is one of the world's largest banks by assets. It operates in over 160 countries and jurisdictions, underscoring its substantial international presence. The firm's impact is further amplified through its global reach in capital markets and advisory services, helping to facilitate trade and investment on a worldwide scale. Citigroup's diversified operations and extensive global network position it as a key contributor to financial market infrastructures and economic development.
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