Executives at Citi are promising better auditing
and anti-money laundering processes and will try to allay the
concerns that led regulators to veto the bank's plan to return
more cash to shareholders, the newspaper reported on its
There is also tension brewing among the bank's management, the
business daily said citing company sources.
Citigroup's Chief Executive Officer Mike Corbat had shown
himself to be "overconfident" that he had repaired the bank's
rickety relationship with regulators and had "mistaken a ‘not
bad' relationship for a good relationship," the business daily
reported citing a senior executive.
Citigroup investors will likely have to wait until at least 2015
to receive an increase in dividends or stock buybacks after the
Federal Reserve rejected its plan to return more capital to
shareholders, the Wall Street Journal reported. (http://r.reuters.com/der97v)
A Citigroup representative was not immediately available to
(Reporting by Lehar Maan in Bangalore;
editing by Lisa Shumaker)
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