Citi Receives Approval from the China Securities Regulatory Commission to Establish A Wholly-Owned Securities Company in China, Citigroup Securities Company Limited

Citi received approval from China's CSRC to establish a wholly owned securities firm, Citigroup Securities (China) Co., Ltd. (CSCCL), in Shanghai. CSCCL will offer equities brokerage, underwriting, research, and trading services to domestic and foreign clients. Citi aims to deepen its onshore presence and support clients in China's capital markets, according to the company.

China approved Citigroup's plan for a fully owned securities unit, allowing it to offer equities services onshore. The unit is not yet operational. Citigroup's stock is trading at $122.51, with a mid-target price of ~$174 and potential total return of ~42% by 2030. The approval extends Citi's push in Asia, but near-term earnings impact is expected to be minimal.

Citigroup (C) has sold 49% of Banamex, with plans for an IPO. Analysts met Banamex executives to prepare for the IPO, which may occur in early 2027. Banamex recently sold $900M in capital bonds. Citi's exit from Banamex will result in $9B in unrealized losses, but regulatory capital impact is neutral.

China's CSRC approved Citigroup's plan to establish a wholly-owned securities firm in Shanghai, with 1.2 billion yuan in capital. This allows Citi to offer capital markets services, including equities brokerage and securities trading. Citi becomes the seventh foreign firm to operate independently in China, following others like J.P. Morgan and Goldman Sachs. The move aligns with China's push to open its financial sector to foreign institutions.

China's regulator approved Citigroup's plan to establish a 100%-owned securities subsidiary in Shanghai. The company plans to expand its headcount to 100 by year-end. Citigroup aims to offer onshore capital markets services, including underwriting and trading, to domestic and international clients. The move aligns with China's easing of restrictions on foreign financial institutions.

China's securities regulator approved Citigroup's plan to establish a fully-owned securities unit in Shanghai, allowing the bank to expand its onshore capital markets services. The unit, Citigroup Securities China Company, will offer services like underwriting and trading. Citigroup aims to double its team to around 100 people by year-end. The bank reported Q3 earnings of $5.2 billion, with revenue up 8% and return on tangible common equity at 11.5%.