Citigroup Denies Regional Bank Acquisition Rumors

Citigroup has officially denied reports suggesting it was considering the acquisition of a U.S. regional bank or brokerage firm. The speculation, which originated from unnamed sources cited by Bloomberg, indicated the bank was exploring such a move to bolster its deposit base for lending and trading activities. However, Citigroup has firmly refuted these claims, labeling them as "baseless speculation." This denial aims to quell market uncertainty and reaffirm the bank's current strategic direction, emphasizing that no such discussions or plans are underway.