C - Citibank

[PlanMaestro]

Now I understand why C is not disclosing the carrying value for MSSB unit on their FS. I was looking for this value and there have been direct questions on conf calls and response has been that they wont answer that question. I thought it is weird.

Vinod

There is a negotiation going on with Morgan Stanley. So it is the same reason as why Bank of America does not disclose reserves for reserves for most of its litigations. Also, not sure how much to believe though.

Valued at $20 billion on Citigroup's books by the reckoning of Howard Chen of Credit Suisse

[PlanMaestro]

Citi Sells Stake in HDFC
http://online.wsj.com/article/SB10001424052970203918304577242280745108906.html

MUMBAI -- Citigroup sold its entire stake in Indian mortgage lender Housing Development Finance Corp. for $1.9 billion that will likely help the US banking giant improve its capital to meet strict international rules.

The New York-based bank sold 145.3 million shares, or HDFC's 9.85% stake, through block deals at 657.56 rupees a share, or 6.1% below the stock's closing price Thursday. The sale is expected to result in a gain of $1.1 billion before tax and about $722 million after tax, Citigroup said in a statement.

[alertmeipp]

Some of these stakes worth a lot less just a few quarters back. When the risk appetite is back, both BAC/C will get benefit the most. More ppl will be willing to take some risk on their balance sheet while they offload them to build capital.

[finetrader]

HDFC (HDB-N) is a company I would like to own at the right price as I think that they have the potential to grow their earnings significantly in the years to come.

[PlanMaestro]

Citi, Pandit, and its hedge funds.

http://www.bloomberg.com/news/2012-02-29/pandit-fast-money-with-hedge-funds-proves-citigroup-dead-end-with-spinoffs.html

[Grenville]

Citi, Pandit, and its hedge funds.

http://www.bloomberg.com/news/2012-02-29/pandit-fast-money-with-hedge-funds-proves-citigroup-dead-end-with-spinoffs.html

Nice article. Covers a lot of ground and gives some history on Pandit. thanks.

[biaggio]

just removed my post here-I intended it to be in nat gas article thread-I don t know how it got here in C thread.

Sorry

[PlanMaestro]

Smith Barney, Morgan Stanley and Citibank. Summary? MS and C are negotiating on the WSJ.

http://online.wsj.com/article/SB10001424052702303816504577305981736738426.html
http://blogs.wsj.com/deals/2012/03/08/morgan-stanley-citi-somewhere-between-checkmate-stalemate-over-smith-barney/

[PlanMaestro]

No comments on the results? 1.07% ROA pre-CVS and expenses under control is not bad at all.

[PlanMaestro]

CFO makes gaffe on Smith Barney
http://www.nypost.com/p/news/business/citi_slicker_tips_hand_Sqd7l11q0xocE8CswGIBJI