Shares in Citigroup Inc., the third-biggest U.S. bank, could increase by about 33 percent in 12 months as the lender reduces unwanted assets and management cuts costs, according to Brennan Hawken, an analyst at UBS AG.
Citigroup Inc., the third-biggest U.S. bank, asked the Federal Reserve for permission to buy back $1.2 billion of shares without seeking a dividend increase a year after its previous request was rejected.
The six largest U.S. banks may return almost $41 billion to investors in the next 12 months, the most since 2007, as regulators conclude firms have amassed enough capital to withstand another economic shock.
A group of AMR Corp. bondholders with about $1.5 billion in unsecured debt is backing a merger in bankruptcy with US Airways Group Inc. and pushing for a deal by Feb. 15, people familiar with the matter said.
US Airways Group Inc. pilots and flight attendants joined other unions in urging Chief Executive Officer Doug Parker to end the carrier’s labor disputes before trying to merge with AMR Corp.’s bankrupt American Airlines.