US financial institution Citigroup on Thursday admitted that hundreds of thousands of its credit card customers in North America became vulnerable to personal data thefts as its network suffered a cyber attack.

On Monday, Citigroup announced that it had appointed Abhay Pande as their new head of Southeast Asia industrials. Mr. Pande has spent 13 years working with Citigroup, and will now be working for Citigroup in Singapore. Before this, Mr. Pande was based out of New York where he worked as the managing director of the global energy banking team.

Beating all the estimates and cutting provisions for future loan losses by $3.3 billion, Citigroup gained 4 cents, or 0.9%, to $4.46 in New York Stock Exchange.

Registering the fifth profitable quarter in a row, the New York-based bank reported the losses on troubled loans to decline by 25% because fewer customers missed payments in comparison to the same period last year.

Three big banks- Citigroup Inc, HSBC Holdings Plc and CIMB Group Holdings Bhd, have announced that they will be investing in yuan bonds. This decision comes after China decided to open up its inter bank debt market.

The Shanghai-based CEO of Citigroup, Andrew Au said that the Chinese unit of the US bank is now in the process of making papers that are required to invest in the market from outside.

Citigroup has decided that it will pay $75 million to settle federal claims that came up because of the sub-prime crisis. It is paying since the bank failed to disclose vast holdings of sub-prime mortgage investments.

These are the investments are the once that are said to have crippled the bank. Events go back to 2007 when the bank had reported losses in millions. A year later, it was rescued by the government.

That the European banks’ stress tests conducted last week were apparently ‘not stressful enough’ was evident from the fact that most of the eurocrats predicted beforehand that a majority of the banks will clear these tests.