Citibanks global dominance and slide in global banking

Submitted by
Radhika Babbar (C05) Geetanjali Rastogi(C14) Tarandeep Deol (C20) Harshal Arora(C38) Sarthak Saxena(C39) Preeti Shah(C53)

Introduction
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group in October 1998 (announced on April 7, 1998). The year 2012 marks Citi's 200th anniversary. It is currently the third largest bank holding company in the United States by assets. It is the first bank which establish a foreign department and started foreign exchange trading activities.

 Citigroup has the world's largest financial services network, spanning 140 countries with approximately 16,000 offices worldwide. The company currently employs approximately 260,000 staff around the world. It also holds over 200 million customer accounts in more than 140 countries According to Forbes, at its height Citigroup used to be the largest company and bank in the world by total assets with 357,000 employees until the global financial crisis of 2008. Today it is ranked 20th in size under the Fortune 500 list.

CITIBANK

It provides financial products and services in the form of consumer banking and credit, corporate and investment banking, transaction service.
Net income US $7.541 billion (2012) Total assets US $1.664 trillion Total Equity US $189.04 billion

CONSUMER BUSINESSES
Retail Banking Citi Branded Cards Citi Mortgage

Citi Commercial Bank

INSTITUTIONAL BUSINESSES

Citi Markets Citi Private Bank Transaction Services

Corporate & Investment Banking

AWARDS & RECOGNITION

Newsweek Green Rankings #1 US Bank Newsweek Magazine Top Green IT users #8 Computer World Magazine Outstanding Supporter Award Community Services of Nevada Gender Equality Model Certification National Womens Institute, Mexico Organization of the Year Community Housing Council of Fresno

ENVIRONMENTAL SUSTAINABILITY
Finding the paperless solution Cutting wastes in South Africa Saving water across the globe

Helping to develop sustainable banking

principles for Nigeria Green Team at St. Louis Infrastructure in Turkey

A brief history of Citibank and its global operations

CITIBANK IN INDIA

FACTS
Citibank began operations in India 109 years ago in 1902 in Kolkata. It is the largest foreign direct investor in financial services in India with a total capital commitment of approximately USD 4 billion. It operates 42 full-service Citibank branches in 40 cities and over 700 ATMs across the country. It is an employer of choice to about 7500 people. It is the preferred bank to more than 40,000 small and mid-sized companies across India.

PRAMIT JHAVERI is the CEO at Citibank India. He joined the bank in 1987.

 Citibank India has been named 'Best Consumer Internet Bank' and 'Best Corporate/Institutional Internet Bank' in India by Global Finance magazine in 2011.

This is the fourth consecutive year that Citibank India won 'Best Consumer Internet Bank' award and the second consecutive year that it bagged the Best Corporate/Institutional Internet Bank Award.

Citibank India has been awarded as Best Foreign Bank Brand in the Economic Times Brand Equity Most Trusted Brands Survey 2011 for the three consecutive years

Citibank brings in paperless payment system for cardholders on January 21, 2013

its

Citibank offers its first mobile payment solution through Citibank India. It will be made available to 320 million Citibank card customers in India. This development makes Citibank India the first country franchise within Citigroup to launch an industry innovative mobile payment solution, which has been developed with its technology partner Ezetap.

Amid Economic Turmoil Citi Recapitalizes.

In 2007, As crisis hit the financial world, US backed Citi

Citi reported losing $811 billion in some days after Merrill Lynch announced that it too had been losing billions from the subprime mortgage crisis in the United States.
In late 2007, market conditions began to deteriorate, home prices started on what became a steep decline, and residential-mortgage defaults began to rise. The increasing defaults and subsequent drop in the values of mortgage-backed securities weakened many financial institutions, including Citi. Facing significant losses on its mortgage portfolio, Citigroup commenced raising capital through public and private offerings that raised more than $30 billion over two months in late 2007.

In 2008, economic conditions deteriorated further, culminating in the collapse of the 158-year-old Lehman Brothers investment bank in September, and prompting further upheavals in the credit and equity markets.

Amid widespread uncertainty in the banking sector, in October 2008 the U.S. government stepped in with the Troubled Asset Relief Program (TARP). Initially, this provided a combined $125 billion in preferred equity to nine major U.S. financial institutions in order to strengthen their capital positions and boost the broader economy.

Citi received $25 billion in TARP capital in October and an additional $20 billion in capital in November 2008

At the end of 2009, Citi raised $20.5 billion in public equity, used the proceeds to repay the $20 billion of preferred shares owned by the U.S. Treasury, and terminated its loss-sharing agreement at the same time In March 2010, Pandit explained that Citi had become "a fundamentally different company than it was two years ago." Indeed, it had re-emerged as one of the best-capitalized major banks in the United States.

Thank you.