Word: governmental
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Dates: during 2000-2009
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But raising all the capital to pay back TARP won't improve Citi's balance sheet either. In fact, it will do the opposite. Bove estimates that TARP repayment will lower the company's Tier 1 capital ratio to just over 11%, from a recent 12.8%. What's more, with...
But Christopher Whalen, managing director of research firm Institutional Risk Analytics, thinks the problem with Citi's repayment has less to do with capital ratios and more to do with waning confidence in the bank around the world. In early December, the investment arm of the government of Kuwait sold...
Finally, the deal Citi struck with the government may indicate to investors that the bank is actually in worse shape than many thought. To exit TARP, Bank of America was required to raise $18.5 billion in new capital, or about 40% of the $45 billion in capital it repaid the...
What's more, Citi's bid to expand in the Middle East at a time when the U.S. and the rest of the world was entering a financial crisis appears to be yet another management blunder for what was once the world's largest bank. It's also likely a...
Massive building projects funded by debt offerings was driving Dubai's economy, creating lot of opportunities for bankers. Many other banks followed Citi's lead. Citi reportedly built up a staff of 50 bankers in the area. But as things started to unravel Citi remained deeply invested in Dubai. In...