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Citi Bank – Enjoying worldwide presence with a difference
Awarded the Global Bank of the Year, Citi Bank has set up its largest single market in the US. With about 26% of its total branches in the North America, it also generates whooping 51% revenue from this market. Citi bank is a consumer subsidiary of the parent multinational investment banking and financial services corporation, Citigroup Inc.
Spread across the world
North America houses about 983 branches with denser population of branches in the metropolitan regions like Chicago, Los Angeles, New York, San Francisco, Miami, Washington, D.C. On the other hand, Latin America brings in about 25% of the revenue while Asia makes a 20%contribution. The remaining 4% is contributed by Africa, Middle East and Africa.
Being one of the leading global banks, it does not only provide banking services alone to its customers, but also a host other financial services like credit banking, corporate banking, investment banking, transactions and brokerage services as well as wealth management.
Citi Bank has successfully spread its wings not only in the USA but also in 140 other countries internationally. 16000 locations, 357,000 employees and 200 million customer accounts, right up till 2008 recession, it was the largest company and bank in the world on the basis of total assets held. Tough the 2008 recession was harsh on the company as a whole, the US government had helped out twice to help float it. Later, the company had made sure that it paid back every dollar that the government had invested in it.
When it started?
June 16, 1812 – The City Bank of New York was founded and it was headed by the statesman and retired Colonel, Samuel Osgood.
19th Century saw Moses Taylor, one of the leading business tycoons of his times, take over the company.
1863 saw Citi Bank joining the US’s National Banking System and by 1868, it had become one of the largest banks in the U. S.
1914 witnessed the company being the first of banks to open a banking office overseas in Buenos Aires, Argentina.
1919 made the company the first bank in United States to have $1 billion as assets.
1930 and the company already had 100 branches established in 23 countries internationally.
1970s One of the first banks in the United States to introduce Automatic Teller Machines for 24 hours access for their customers.
2006 Citi Bank had given the deal to 7 – Eleven to install ATMs in over 6700 convenience stores in the US
While 2008 to 2009 had the company struggling with losses and cost – cutting procedures, it has bounced back from 2011 till present.
Stock Market and Investment
Citigroup, Inc. is listed on Nasdaq, and is trading at around $60. It holds a market capitalization of over $172 billion. It has a P/E (profit/earning) Ratio of 13.15 and EPS (earning per share) $4.60. The multinational corporation declared its net income of $4 billion and revenue of $17.5 billion, with the interest margin of 2.86%.
The company has 72.6% institutional holders with the top five institutional holdings by Vanguard Group, Inc., State Street Corp, FMR LLC, Blackrock Institutional Trust Company and JP Morgan Chase & Co.
There are three types of investing types depending on the kind of investor you are:
- Value investors: Picking up a stock trading below its book value but is still in profit is the best kind for value investors.
- Speculators: Apart from the common stocks, it also has two different publicly traded warrants listed on NYSE. These offer good opportunities to long term speculators.
- Income Investors: Stocks with good yield and higher predictions can be a good choice, which this stock offers.AutoZone Properties For Sale Across the United States:Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Puerto Rico, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Virgin Islands, Washington, West Virginia, Wisconsin, Wyoming