Banking News: Bank of America Corp (BAC), Wells Fargo & Co (WFC), JPMorgan Chase & Co. (JPM) & Citigroup Inc (C)

Alwaleed says Citi split-up “completely dead” (ArabianBusiness)
A potential split-up of the operations of US bank Citigroup Inc (NYSE:C) is now “completely dead,” Saudi prince Alwaleed bin Talal, the bank’s largest individual shareholder said in an interview on Monday. “The idea of splitting Citi is now dead completely. The latest results of Citigroup Inc (NYSE:C) were the best among the banks,” Prince Alwaleed, who holds the stake through his investment firm Kingdom Holding told Reuters. The Saudi prince said the conservative strategy of Citigroup Inc (NYSE:C) Chief Executive Mike Corbat was beginning to reflect in the bank’s financial results.

Citigroup Says Firms to Delay Deals to Cut Debt: Corporate India (BusinessWeek)
Indian companies may defer plans to acquire rivals and add capacity by about three years as they focus on reducing record debt, according to Rahul Shukla, Citigroup Inc (NYSE:C)’s local head of corporate banking. Net debt at companies, excluding banks and finance firms, on the S&P BSE200 index more then doubled to $196 billion as on Dec. 31 from $92 billion in 2008, according to data compiled by Bloomberg. It would take two to three years for companies to cut their liabilities, Shukla said. A delay in investments may stall Finance Minister Palaniappan Chidambaram’s attempt to revive growth in Asia’s third-largest economy, said Anjan Ghosh, head, corporate ratings at the Indian partner of Moody’s Investors Service.

Citigroup Inc. : Citi Celebrates SFMade Week by Showcasing Locally Manufactured Products in all San Francisco Citibank Branches (4-Traders)
From handbags to furniture to guitars, Citigroup Inc (NYSE:C) will help celebrate SFMade Week with displays of locally manufactured products in all 25 of the city’s Citibank branches. Today through Friday, May 10, visitors to Citibank branches will have the opportunity to peruse products manufactured in the city, vote for their favorite manufacturers, and win cash prizes for those businesses to help them grow. SFMade Week, which seeks to build awareness of and support for the city’s vital manufacturing sector, was kicked off last Friday at an event featuring House Democratic Leader Nancy Pelosi (D-CA).