Citigroup, Bank of America fall after Berkshire cuts stake

Nu Holdings

18/02/2025 09:57

** Shares of U.S. banking giants Citigroup  C.N  and Bank of
America  BAC.N  fall 1.2% and 0.4%, respectively, premarket
    ** After market on Friday, Warren Buffett's Berkshire
Hathaway  BRKa.N  disclosed it had reduced holdings in four
banks, including Citi and BofA 
    ** Berkshire lowered stake in Citi by ~74% to 14.6 mln
shares, and BofA by ~15% to 680.2 mln shares, it revealed in a
regulatory filing detailing holdings as of Dec. 31
    ** During the fourth quarter, Berkshire also reduced its
stakes in consumer lenders Capital One  COF.N  and Brazilian
fintech Nu Holdings  NU.N 
    ** U.S.-listed shares of Nu, which does business as Nubank,
fell 2.5% premarket
    ** Citi shares rose nearly 37% in 2024, while BAC climbed
roughly 31%

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))