Citigroup falls below $1.00 per share
The almighty, and at one point - the world’s most valuable bank, just had its’ shares drop below the $1.00 mark.
Citigroup bank looks to be on the brink of failure. It has a year to date price drop of 85%, and has been down 13% alone today. If this powerhouse were to go under that would mark the 15th bank this year to fall off the face of the earth (or become nationalized).
As of only 2 years ago Citigroup had assets totaling roughly $270 billion, while today that same asset group looks to total $5.7 billion (a 98% fall in 24 months).
Citi Bank Savings Rates
From a consumer perspective, Citi Bank offers decent savings rates with yields slightly above the national average. Currently they have a 1 year CD yielding an interest rate of 2.27% (national average is 2.09%). They also have an “Ultimate Savings Account” yielding an APY of 2.10%.
Even though this bank may be doomed for failure, you’re savings account with them will still be FDIC insured up to $250k.
Graph provided by InvestorGuide.com.
