NEW YORK, September 15, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on Citigroup Inc. (NYSE: C). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/reports?keyword=C  

Highlights from our C Report include: 


        
        - Reached an Agreement to sell Alternative Investor Services business - On August 18,
          2015, the leading global bank, Citigroup Inc. announced a definitive agreement
          wherein it will be selling its Alternative Investor Services business to SS&C
          Technologies Holdings, Inc. (SS&C), which is a leading provider of financial
          software-enabled services and software for the global financial services industry.
          Citigroup's Alternative Investor Services business includes Hedge Fund Services and
          Private Equity Fund Services. The Company informed that upon closure of the deal, the
          entire operations of Alternative Investor Services business, including around 1,500
          employees, will be transferred to SS&C. As per the release, the deal is expected to
          close in Q1 2016 and is subject to regulatory approvals and other customary closing
          conditions. Citigroup highlighted that, this transaction would be quite beneficial for
          Alternative Investor Services as it will become part of a known leader in financial
          services having a well-established track record of delivering high-quality products
          and services to its clients.



        
        - Q3 2015 Earnings Scheduled in October - More recently on August 20, 2015,
          Citigroup announced that it will be publishing its results for Q3 2015 on Thursday,
          October 15, 2015 at around 8 a.m. (ET). Citigroup informed that it will discuss the
          results through a live webcast and teleconference on the same day at 11 a.m. (ET). As
          per Zacks investment research, the Company is expected to report earnings of $1.4 per
          share.



        
        - Highlights from Q2 2015 - On July 16, 2015, Citigroup reported revenue of $19.5
          billion for Q2 2015, which was almost unchanged from the year-ago period's revenue of
          $19.4 billion. Net income was reported at $4.8 billion, or $1.51 per diluted share in
          Q2 2015, compared to net income of $181 million, or $0.03 per diluted share in the
          same period a year ago. Citigroup informed that (Credit Valuation adjustment) CVA/ DVA
          (Debt Valuation adjustment) stood at $312 million ($196 million after-tax) compared to
          negative $33 million (negative $20 million after-tax) in Q2 2014. The second quarter
          results also included the impact of a $3.8 billion charge ($3.7 billion after-tax) to
          settle legacy RMBS and collateralized debt obligations -related claims. As per the
          Company, in Q2 2015, its cost of credit fell 5% YoY to $1.6 billion.

To find out how this influences our rating on Citigroup Inc., read the full report in its entirety here: http://www.aciassociation.com/reports?keyword=C

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