Scribd Logo
Upload

Welcome to Scribd!

  • 131 views

    Citibank Competitive Overview

    Uploaded by

    Victoria VC
    Citigroup is currently the 8th largest bank globally but was previously the largest before the 2008 financial crisis. While Citibank offers competitive interest rates and fees for savings and checking accounts compared to competitors like JPMorgan Chase, Wells Fargo, and HSBC, it charges a relatively high minimum balance requirement. Citibank engages in banking, credit cards, lending, investments, and advertising across various media vehicles. Its goals for 2015 include achieving a 10% return on equity and 0.9-1.1% return on assets by restructuring operations in 21 markets. It also aims to lend $100 billion over 10 years to finance environmental solutions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Citibank Competitive Overview

    Uploaded by

    Victoria VC
    131 views2 pages
    Citigroup is currently the 8th largest bank globally but was previously the largest before the 2008 financial crisis. While Citibank offers competitive interest rates and fees for savings and checking accounts compared to competitors like JPMorgan Chase, Wells Fargo, and HSBC, it charges a relatively high minimum balance requirement. Citibank engages in banking, credit cards, lending, investments, and advertising across various media vehicles. Its goals for 2015 include achieving a 10% return on equity and 0.9-1.1% return on assets by restructuring operations in 21 markets. It also aims to lend $100 billion over 10 years to finance environmental solutions.

    Original Description:

    citibank

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Citigroup is currently the 8th largest bank globally but was previously the largest before the 2008 financial crisis. While Citibank offers competitive interest rates and fees for savings and checking accounts compared to competitors like JPMorgan Chase, Wells Fargo, and HSBC, it charges a relatively high minimum balance requirement. Citibank engages in banking, credit cards, lending, investments, and advertising across various media vehicles. Its goals for 2015 include achieving a 10% return on equity and 0.9-1.1% return on assets by restructuring operations in 21 markets. It also aims to lend $100 billion over 10 years to finance environmental solutions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    131 views2 pages

    Citibank Competitive Overview

    Uploaded by

    Victoria VC
    Citigroup is currently the 8th largest bank globally but was previously the largest before the 2008 financial crisis. While Citibank offers competitive interest rates and fees for savings and checking accounts compared to competitors like JPMorgan Chase, Wells Fargo, and HSBC, it charges a relatively high minimum balance requirement. Citibank engages in banking, credit cards, lending, investments, and advertising across various media vehicles. Its goals for 2015 include achieving a 10% return on equity and 0.9-1.1% return on assets by restructuring operations in 21 markets. It also aims to lend $100 billion over 10 years to finance environmental solutions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 2

    1.

    Competitive Overview
    According to Forbes.com, Citigroup is the 8 th largest bank in the whole
    world, measured by a composite score of revenues, profits, assets and
    market value. Citigroup was the largest company and bank in the world
    before the global financial crisis in 2008. Citibank suffer great loss during
    the recession and the competitors took over Citigroup place such as
    JPMorgan Chase, Wells Fargo and HSBC Holdings.
    Comparing Citibank to its competitors, the saving account interest rates
    and monthly fees are quite similar; the difference is the minimum balance
    requirement where Citibank charges a relatively high amount ($500)
    whereas others competitor charges a much more lower fee or not charging
    at all.
    For checking account, Citibank and its competitors interest rate and
    monthly fees are about the same. Citibank does not charge fee when
    customer withdraw from an ATM owned by another bank whereas its
    competitor will charge $2 fee for using an out-of-network ATM.
    2. Comparison between different financial institution
    United
    Citibank
    HSBC
    Wells
    BOA
    States
    Fargo
    Bank
    Banking
    Y
    Y
    Y
    Y
    Credit
    Y
    Y
    Y
    Y
    Cards
    Lending
    Y
    Y
    Y
    Y
    Investmen
    Y
    Y
    Y
    Y
    t
    Insurance
    Y
    Y
    Y
    N

    AE

    Chase

    N
    Y

    Y
    Y

    N
    N

    Y
    Y

    3. Strength and weakness of a company


    The strength of Citibank is Citibank has a strong brand name with great
    reputation. Citibank also has a great financial position, has been able to
    raise deposits and give good loans. Citibank has various types of
    customers from different countries and industries, therefore lowering the
    risk of bad debts. Hence the bank could always receive the money they
    lend out and maintain their financial position.
    The weakness of Citibank is the bank depends a lot over the US market as
    compared to other banks. Citibank has shown low activities and lesser kind
    of products and services offered to customers in other countries beside US.
    4. The total revenue, net of interest expense for Global Consumer Banking
    in 2014 is $36.017 million.
    5. Citibank uses all types of media vehicle to advertise. They use
    a. broadcast vehicles such as national network,
    b. print vehicles, such as newspaper or magazines,
    c. digital vehicles, such as social media or website, and
    d. other types of vehicle like buses, billboards and benches
    to promote their services.
    6. The advertising message for Citigroup is Citi never sleeps.

    7. Advertising expenditure for Citigroup in 2014 is $1.844 million.


    8. Citigroup 2015 goal
    Citigroup long-term goal:
    1. enhance its position as a leading global bank for institutions and
    individuals by building on its unique global network, deep emerging
    markets expertise, client relationships and product expertise.
    2. positions the firm to seize opportunities provided by current trends
    (globalization, digitization and urbanization) for the benefit of clients.
    3. further its commitment to responsible finance.
    4. Strengthen citis performance-including gaining market share with
    clients, making citi more efficient and productive, and building upon its
    history of innovation
    5. Wind down citi holdings as soon as practicable, in an economically
    rational manner.
    The new CEO of Citigroup, Michael Corbat announced in 2013 that he hope
    to earn a return of 10% on tangible common equity in 2015. Moreover
    return on assets is expected in the range of 0.9% -1.1%. To achieve the
    goal, Corbat has planned to restructure, reduce or exit some of the
    operations in 21 markets globally to enhance returns. These markets
    include Citis business operations where the firm records less than 10% of
    total revenues and earn less than 0.4% assets.
    One of the goals Citigroup set in February 18, 2015 is that they will lend,
    invest and facilitate $100 billion in the next 10 years to finance activities
    that reduce the impacts of climate change and create environmental
    solutions that benefit people and communities.
    http://www.citigroup.com/citi/news/2015/150218a.htm
    http://www.zacks.com/stock/news/94109/citi-sets-financial-goals-for-2015
    http://smallbusiness.chron.com/media-vehicle-advertising-80161.html
    http://www.argylejournal.com/chief-marketing-officer/right-person-rightmessage-right-time-citibank-leverages-targeted-content-to-connect-withcustomers/
    http://www.citigroup.com/citi/about/mission-and-value-proposition.html
    http://www.citigroup.com/citi/about/citi_at_a_glance.html

    You might also like