Citigroup is warning investors it may miss a key profitability target after the Federal Reserve rejected the bank's capital plan last month, according to a report on Monday night.
On March 26, the Federal Reserve had rejected the bank's plans for a dividend raise and buyback, following the Citigroup's failure in the latest round of stress tests.
The setback may place in jeopardy Citigroup's ability to meet its return on tangible common equity goal, the Wall Street Journal Web site reported.
Also on Monday, Citigroup said it would pay $1.12 billion in cash to settle legacy securities and other claims and incur a related charge of $100 million in the first quarter.
The bank reached the agreement with 18 institutional investors and said the settlement had resolved a significant issue left over from the financial crisis.
With Post wires
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