Citigroup It is considering the acquisition of a large US regional bank or brokerage firm, Bloomberg I mentioned Friday (March 27), citing unnamed sources, adding that Citigroup said the report was “baseless speculation.”
The report, citing unnamed sources, said that bank executives are considering this move to obtain more deposits that could fuel Citibank’s lending and trading operations.
Citigroup is operating under two consent orders that require it to obtain regulatory approval before attempting an acquisition, but when executives raised the idea with U.S. regulators, regulators expressed a willingness to consider the proposal, according to the report.
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Asked about the Bloomberg report, Citigroup said, according to the report: “The suggestion that Citi is planning to purchase a regional bank or wealth brokerage — or any other financial services company — is baseless speculation. At this time, we are solely focused on organic growth by executing our strategy and completing our transformation.”
According to a Bloomberg report, while Citigroup is the third-largest US bank, its US retail arm is much smaller than… JP Morgan. In terms of average deposits, Citigroup’s US personal banking unit was valued at $89 billion, while JPMorgan’s consumer and community banking unit was valued at $1.1 trillion.
the Consent orders Under which Citigroup operates was imposed in 2020 by Federal Reserve and Office of the Comptroller of the Currency (OCC), which requires the bank to improve technology and procedures in order to better detect errors such as problematic transactions and risky trades.
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In December 2025, the OCC finalized a July 2024 amendment to the consent order relating to deficiencies in Citi’s system. Risk management Systems. The amendment stipulates that the bank will implement a quarterly process to ensure that it allocates sufficient resources to meet the milestones listed in the approval order. Upon finalizing the amendment, the Oman Chamber of Commerce and Industry said that it believes that “the bank’s safety, soundness, and compliance with the laws and regulations do not require the continued existence of the amendment.”
Citigroup said in September 2023 that it was embarking on a major project Restructuring Its organization would eliminate a number of layers of management. The new structure has resulted in the elevation of the bank’s five business leaders with the elimination of a number of positions.
PYMNTS reported in October 2025 that Citi C.E.O Jane FraserMulti-year effort to rebuild Transforming the bank into a leaner, technology-driven organization is starting to produce results.
