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Citigroup Inc (NYSE:C) shares down by 0.96%

Boston, MA 06/20/2013 (wallstreetpr) – The share prices of Citigroup Inc (NYSE:C) had declined by 0.96 percent to close at $49.53 per share for the end of last trading session on Wednesday. The shares of the bank holding company had been trading in the range of $49.41 to $50.30 per share during the day. The shares of Citigroup Inc (NYSE:C) had recorded 52 week high price level at $53.56 per share and 52 week low price level at $24.91 per share.

Citigroup Inc (NYSE:C) is one of the largest financial institutions in the world and had for the entire year reported gains of over 25 percent on its shares. The bank holding company presently has operations across 100 countries of the world. Post the economic crisis during which the company was one of the hardest hit banks with the market capitalization being reduced to one tenth of its prior value at $550 billion, Citigroup Inc (NYSE:C) had raised additional capital of $25 billion from the US Treasury’s TARP program.

Throughout the years of 2008 and 2009, Citigroup Inc (NYSE:C) had been receiving government support of around $50 billion in the form of preferred stock and warrants for purchase of common stock and in return the government had also agreed to enter into loss sharing agreement on a portfolio of bad assets for the company.

On the other hand, Citigroup Inc (NYSE:C) had recently passed a stress test in which it was determined that the company’s Tier I capital ratio would remain at 8.3 percent after severe recession, which proved to be a relatively higher figure compared to the average value of 7.7 percent recorded by 18 bank holding companies that were subject to test.

In the near future, the growth of Citigroup Inc (NYSE:C) would primarily depend on the continuing economic recovery of the United States. The recovery should thereby include increased home buying activity, more mergers and acquisitions among corporations and increased net income.

Published by Chris Brown

About Me: I have a Phd in Economics Gender: Male Interests: Playing games like cricket, volleyball Favorite Music: hip hop, rock, jazz



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