Citigroup, A Major Banks in the U.S.


Citigroup Inc. An Overview

Citigroup Inc. is one of the four major financial banks in the United States, although it is based in the United States, it is multinational known investment bank that offers financial services. As of 2015, it is the third largest bank holding company in the U.S. in terms of assets. It is the largest shareholder which includes funds from the Middle East and Singapore.

Citigroup Inc. has sailed through rough seas, and the global financial crisis of 2008 was one of the waves that Citigroup Inc. had to withstand but couldn’t have stayed afloat without acquiring huge amount of help from the government.

Citi as an Investment Bank

That’s where Citi performs its traditional investment banking. Citi lends large amount of money to corporations, and securities lending. When Sprint Corp., a telecommunication company, merged with the Japanese company Soft Bank, Citi served as the lead financial advisor.

Citigroup Inc.’s corporate department is similar to corporate departments in other, non-bank companies. It’s a corporation for day-to-day operations like payroll; the company has its own real estate holdings and other various items that is required for a business.

An international financial services provider

Citigroup Inc. operates in over 100 countries, which operates in all four geographic regions namely, North America, Asia Pacific and Europe, the Middle East and Africa. North America is by far Citi’s most profitable followed by Canada and the U.S. accumulated for more than $4 billion in earnings in the most recent fiscal year and half of the earnings come from credit cards.

Consumer banking revenues in Europe, the Middle East and Africa were barely $1.5 billion in 2013, which was down compared to the two previous years. Total net income was a mere $48 million, largely because of the enormous operating expenses.