DZ Bank Sues Citigroup (C) and Royal Bank of Scotland (RBS) Over $845 Million in Mortgage Securities

Citigroup Inc (NYSE:C), Royal Bank of Scotland Group plc (ADR) (NYSE:RBS) and UBS AG (USA) (NYSE:UBS) were prosecuted in separate lawsuits in New York, charged of fraud in the sale of a total of $845 million in mortgage securities.

New York State Supreme Court papers confirmed that DZ Bank AG prosecuted New York based Citigroup and Royal Bank of Scotland, while HSH Nordbank AG prosecuted UBS and RBS.

The German based financial company mention offering materials contained misrepresentations about loans backing the securities, directing to losses.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Shinhan Financial Group Co., Ltd. (ADR) (NYSE:SHG) rose +0.11% to settle at $35.81, BBVA Banco Frances S.A. (ADR) (NYSE:BFR) moved down -4.26% to end at $4.95 while Banco Macro SA (ADR) (NYSE:BMA) dropped -3.35% to finish at $17.61 on Friday.

Citigroup Inc. (NYSE:C) last session’s volume of 24.56 million shares was lower than its average volume of 36.77 million shares. The stock after opening at $38.82 hit high price of $39.25 and then closed at $39.01 by scoring -0.61%.

CITIGROUP INC generated revenue of $69.16 billion in the previous twelve months and earned $7.16 billion. The Company showed a positive 10.95% in the net profit margin as well as in its operating margin which remained at 11.41%. Company’s annual sales growth for the past five years was -4.94%.

The CITIGROUP INC’s past twelve months’ price to sales ratio was 1.65 and price to cash ratio remained 3.38. As far as the returns are concerned, CITIGROUP INC’s return on equity was recorded as 3.94% and return on asset increased 0.39%.

The stock showed weekly downbeat performance of -2.89% which was maintained for the month at 11.23%. Likewise the positive performance for the quarter was recorded as 20.03% and for the year was 45.18% while the YTD performance remained at 48.44%.

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