citi more global than other american banks

And while Citi touts the comparative advantages of its unique business model, it faces fierce competition at home from deeper-pocketed banks like JPMorgan Chase & Co. Despite talk of less regulation, enough safeguards will probably remain in place to trump any return to the freewheeling M&A ways of the past. Capital costs aren’t nearly as low, nor returns anywhere as high, as a decade ago. The banking world has become a much tougher place. And after falling far behind other major banks, Citi is aiming to deliver the highest payouts in the industry.īut in trying to regain its precrisis eminence, Citi faces as many obstacles as opportunities. Back home, where Citi relies on credit card revenues more than its rivals, it is seeking more clients, using products that proved successful overseas.

With a larger global footprint than any other American lender, Citi is ramping up its multinational corporate banking while reducing less profitable retail operations abroad. banks and the one most dependent on foreign revenues. To achieve that goal, Corbat and his team intend to take full advantage of Citi’s status as the most international of U.S.

“We want to be very careful about allocating our capital and resources to those businesses that are generating the right returns for our investors.” “We don’t wake up and say each part of the company is going to grow,” says Corbat, 57, in an interview in his cubicle with Institutional Investor at Citi’s lower Manhattan headquarters on the Hudson River. He insists the caution bred by the crisis will shape his leadership during the next stage as well.

Citi more global than other american banks