Citigroup Inc. (Citi) Report

Company Overview

Citigroup Inc. is one of the world's largest financial institutions, commonly known as Citi or Citibank. Headquartered in **New York City**, it operates as a global banking and financial services corporation.

Size & Scale

- Total Assets: $2.352 trillion (2024), down 2.44% from 2023

- Market Capitalisation: $173.87 billion (as of July 2025)

- Employees: Approximately 240,000+ worldwide

- Stock-based Awards: Granted to approximately 12,000 employees in 2024

Financial Performance (2024)

- Net Income: $12.7 billion (vs $9.2 billion in 2023)

- Total Revenue: $81.1 billion (vs $78.5 billion in 2023)

- Return on Tangible Common Equity (ROTCE): 7.0% (210bp increase over prior year)

- Strong Growth: Demonstrated positive operating leverage throughout 2024

Global Locations

Citi operates in over 95 countries across six continents, with major presence in:

- Americas: Extensive US network plus Latin America operations

- Europe, Middle East & Africa (EMEA)

- Asia Pacific: Strong presence across major Asian markets

Core Activities

- Consumer Banking: Retail banking, credit cards, mortgages

- Institutional Clients Group: Investment banking, trading, custody services

- Private Banking: Wealth management for high-net-worth individuals

- Treasury & Trade Solutions: Cash management and trade finance

- Securities Services: Custody and fund administration

- Markets: Equities and fixed income trading

Key Achievements & Recognition

- Market Leadership: Continued market share gains in Treasury & Trade Solutions and Securities Services

- Digital Innovation: Strong performance in digital wealth planning and customer experience

- Global Reach: One of the most internationally diversified banks

- Solid Markets Performance: Good underlying momentum in Equities division

Historical Milestones

- 1812: Founded as City Bank of New York

- 1976: Became Citicorp

- 1998: Merged with Travelers Group to form Citigroup

- 2008: Received government bailout during financial crisis

- 2024: Completed major organisational transformation and restructuring

Recent Developments (2024)

- Data Security: Experienced a significant data breach that received widespread media coverage

- Operational Improvements: Continued focus on simplifying operations and improving efficiency

- Revenue Growth: 9% business revenue growth driven by strong performance across key divisions

- Regulatory Progress: Ongoing efforts to address regulatory requirements and risk management

Market Position

Citi is recognised as a systemically important global bank and one of the "Big Four" US banks alongside JPMorgan Chase, Bank of America, and Wells Fargo. The bank maintains a particularly strong position in international markets and institutional services.

The bank has shown resilience and growth in 2024, with improved financial metrics and continued investment in digital capabilities, though it faces ongoing regulatory challenges and cybersecurity concerns.