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Global 500

Mark Kauzlarich — Bloomberg via Getty Images

74

Citigroup

C

U.S.

Last year, Citigroup officially completed the dramatic restructuring plan it embarked on in the wake of the 2008 financial crisis, when the bank nearly went under. That overhaul included selling off much of its Latin America business after Citi’s global diversification, often a benefit, ended up hurting it when emerging markets struggled. It has also rendered Citi a significantly smaller company. The bank’s sales fell nearly 7% to $82.4 billion in 2016, while its profits were down almost 14%. Despite the fact that much of those declines were intentional “and somewhat self-inflicted, as the company’s increased investments in other areas cut into earnings” CEO Michael Corbat acknowledged in the company’s annual report that “our performance last year fell short.” The company is now banking on higher interest rates and other efficiency improvements to boost its profitability and return on equity.

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CEO

Michael L. Corbat

Sector

Financials

Industry

Banks: Commercial and Savings

HQ Location

New York, NY

Years on Global 500 List

23

Employees

219,000

Citigroup is also featured in these fortune lists
Key Financials (Last Fiscal Year)
($ Millions)% change
Revenues ($M)$82,386-6.7%
Profits ($M)$14,912.0-13.5%
Assets ($M)$1,792,077
Total Stockholder Equity ($M)$225,120
Profit Ratios
Profit as % of Revenues18.1%
Profits as % of Assets0.8%
Profits as % of Stockholder Equity6.6%
STOCK QUOTE
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