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Stock impact report

Citigroup shares fall 4% on report of potential regional bank deal [Yahoo! Finance]

Truist Financial Corporation (TFC) 
Last truist financial corporation earnings: 4/20 05:45 am Check Earnings Report
Company Research Source: Yahoo! Finance
The New York-based bank's senior leaders held preliminary discussions in recent months about purchasing a regional bank to boost deposits, which could support its lending and trading operations, according to Bloomberg. Some executives raised the possibility during a meeting with U.S. regulators this year, with authorities signaling openness to reviewing a formal proposal. Citigroup remains under two consent orders requiring regulatory approval before pursuing any acquisition. The bank denied the report, stating "The suggestion that Citi is planning to buy a regional bank, wealth brokerage — or any other financial services firm — is baseless speculation." According to the report, Citigroup could target banks with approximately $500 billion in assets, including Truist Financial Corp. (NYSE:TFC) and PNC Financial Services Group Inc. (NYSE:PNC), each with market capitalizations exceeding $50 billion. The bank has also expressed interest in acquiring brokerages such as Stifel Financia Show less Read more
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