Analysis of operations management in citigroup


Some people argue that operations direction involves everything an administration does. However, others argue that this definition is excessively general, and that the operations map is about bring forthing the right sum of a good or service, at the right clip, of the right quality and at the right cost to run into client demands. So operations map is responsible for pull offing activities that are portion of the production of goods and services and its duties are unable to carry through if there are no co-operation with other maps within the administration whose functions have a important impact on operations every bit good. Such countries are the selling map and product/service development map. In this coursework, we are traveling to measure the functions of concern orientations in the public presentation of an administration, in specific mention to Citigroup ‘s operation, and to discourse the functions of a new product/service development procedure in the administration presents.

Business orientations

Features of concerns orientations:

One position of a house ‘s concern orientation is that it is an implicit in foundation for all of its activities, policies, schemes and enterprises ( Borch 1947 ) . Miles and Munilla ( 1993 ) suggest that concern orientations edge and specify the relationships between a house, its stakeholders, and relevant environments. Some of the concern orientations that marketing bookmans have conceived in efforts to understand their features include:

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  • Production orientation: A production-orientated concern is said to be chiefly concerned with doing as many units as possible. By concentrating on bring forthing maximal volumes, such a concern aims to maximize profitableness by working economic systems of graduated table. In a production orientated concern, the demands of clients are secondary compared with the demand to increase end product. Such an attack is likely most effectual when a concern operates in really high growing markets or where the potency for economic systems of graduated table is important. The production orientation has narrow product-lines, packaging designed chiefly to protect merchandise, publicity and advertisement is minimum, merely limited to raising consciousness of the being of the merchandise
  • Merchandise orientation: an attack to concern that centres its activities on continually bettering and polishing its merchandises, presuming that clients merely want the best possible quality for their money. Their merchandises may get down out as to the full up-to-date and proficient leaders. This attack continuously considers alterations in technological developments and elusive alterations in consumer gustatory sensations.
  • Gross saless orientation: Some concerns see their chief job as selling more of the merchandise or services which they already have available. They may hence be expected to do full usage of merchandising, pricing, publicity and distribution accomplishments ( merely like a marketing-orientated concern ) . The difference is that a sale-orientated concern wages small attending to client demands and wants, and does non seek peculiarly difficult to make suited merchandises or services
  • Corporate Social Responsibility ( CSR ) orientation: this concern attack focused on how companies manage the concern processes to bring forth an overall positive impact on society, such as recycle procedure, green issue-efficiency in the usage of energy, use of resources and sing all stakeholders involvement.
  • R & A ; D orientation: developing efficient attacks to put immense in research and development, merchandise invention to be market leader in engineering, accept long-research rhythms and clip devouring with different hazards and uncertainnesss. R & A ; D orientations are non made on the outlook of immediate final payments but instead on the outlooks of making future investing chances that will be profitable.
  • Marketing orientation: A concern scheme whereby everything that the company does focal points on the client. Via the selling construct, the company makes every attempt to outdo understand the wants and demands of its mark market and to make want-satisfying goods that best carry through the demands of client and to make this better than the competition.
  • Market orientation: The construct of market orientation is built on three pillars of 1 ) client focal point by continuously roll uping information about clients ‘ demands 2 ) invariable updating and airing of this cognition base throughout the organisation and 3 ) interlingual rendition of this cognition into schemes and programs that produce value for clients and concentrate on long-run profitableness.

Citigroup ‘s market orientation:

Citigroup was built to make a extremely diversified fiscal services company that could move as one to present solutions to clients throughout the universe, Citigroup has assortment of trade names with diverse array of merchandises and the greatest distribution capacity offer the merchandises and services clients need: Citibank, CitiFinancial, CitiMortgage, CitiInsurance, Citi Alternative Investment, Citi Capital Advisors, Citi Cards, Citi Private Bank, Citi Institutional Clients Group… ( hypertext transfer protocol: // )

How could they make that? In fact, Citigroup has certain structural features of a market orientation in their concern map.

First, Citigroup sees the demands of clients as critical by placing and presenting them in merely one-stop store. Citigroup is considered as the first true planetary “ fiscal supermarket ” provides all merchandises and services in fiscal market from look intoing histories to amalgamations and acquisitions, from recognition cards to hard currency direction, from leveraged finance to life insurance… To make that, they have:

  • Interacts good with all clients, understands all merchandises and services they need. Yearly Citigroup publish the Citi ‘s Global Transaction Services Client Casebook with 100 pages of instance surveies gathered from across the Earth, this is a testimony to the advanced spirit of their clients
  • Analysiss and provides optimum solutions to fulfill clients ‘ demand
  • Seeks client feedback to better merchandises and services provide in all the sections of the group, from speed uping hard currency influx, hazard extenuation and supply concatenation optimisation, to partnering for productiveness with clients, from bettering hard currency escape to enabling effectual interaction with capital markets.
  • Implements system to enter client feedback and communicate thoughts at every subdivision and office.

Second, Citigroup brings together that unbelievable diverseness of merchandises and services in multiple distribution channels. With a grim focal point on growing, Citigroup has a planetary orientation, are organised into five groups: Global Banking, Global Markets, Citi Capital Advisors, Citi Investment Research & A ; Analysis and Global Transaction Services. This construction enables them to leverage their merchandise comprehensiveness and geographic range, and efficaciously aline their resources with the clients ‘ demands. In deep local roots in every market where they operate, their work forces are coordinated inter-functional by sharing the information across sections.

  • The Citi ‘s Global Transaction Services Client Casebook is circularized up and down the group in order to update the cognition and analytics to better manage cardinal runing procedure.
  • Creates an environment where all employees can give remarks and suggestions to better the quality and efficiency of fiscal merchandises and services provide
  • Frequently form preparation and seminars to circulate information about client, latest merchandises and services throughout the Citigroup.

And last, Citigroup has competitory advantage remain planetary presence, which is rich both in history and in client relationships, at the bosom of Citigroup is an unreplaceable franchise built over about 200 old ages, with more than 200 million client histories in over 100 states supplying the quality of merchandises and services and above all, supplying value to their clients and stockholders.

  • Brands certain Citigroup work to decide issues most of import and pressing to client by tracking and describing and entering each issue until it resolved.
  • Forms strategic and diverse partnership to better service, the Citi ‘s Global Transaction Services Client Casebook is the editions released from this cooperation with all sectors of client from single to public.
  • Citigroup facilitated of collaborative invention with their clients, committed to be an embedded enabler and trusted spouse to clients, presenting interoperable solutions that serve multi-bank, multi-functional intent than any other supplier in the market place.

Finally the market-orientated concern progresss by “ fiscal supermarket ” theoretical account has helped the Citigroup incorporate new merchandises together in many ways that was non possible earlier.

Market orientation in Citigroup and its public presentation aims

One posited relationship is that merchandise invention is influenced by a client focus- one of the dimensions of market orientation. Therefore market orientation leads to increased innovativeness, which in bend leads to higher organisational public presentation ( Han, et al 1998 ; Lukas & A ; Ferrell 2000 ) . In the Annual study twelvemonth 2008, Chief Executive Officer, Citigroup Inc. , Vikram Pandit, affirmed “ we will go on to construct on our rich bequest of invention: invention to guarantee that we can turn to the demands of a extremely nomadic population that is progressively urban and international in mentality ; invention to assist people and companies work more collaboratively across multiple webs and clip zones ; invention to ease new ways of believing about money and the function it plays in mundane life and concern. ”

In peculiar, since 2000, Citibank differentiated itself from rivals by utilizing their client service efficaciously. Citibank continued their investing in engineering for the forepart and back terminal of the banking systems. Citibank committed to an “ e-business strategy-connect, transform and extend-was to net enable its nucleus services, develop incorporate solutions and make new markets ” ( McCauley & A ; Khan, 2002, p.1 ) .

The mission was to link clients with their online merchandises to carry on “ full minutess anyplace around the universe. Citigroup continues to deploy assorted enterprises to go on to serve client demands based on industry demands. In add-on, the chance exists for Citigroup to present e-products at graduated table more rapidly and more expeditiously to clients. Due to their monolithic client range, e-Citi can besides assist do betterments with merchandises in on part or industry and seamlessly deployed world-wide. The flexibleness with their merchandise development allows the company to make different e-business merchandises for different industries and offer demand for altering markets.

  • Quality: e-banking offers a broad scope of dealing services – in payments and aggregations, foreign exchange covering and glade, securities trading and glade, sub-custody and bureau exchequer. Many of these services break new land. For illustration, the new Single Nostro history allows Bankss to do payments and aggregations in more than 45 currencies through a individual history in the basal currency of their pick.
  • Speed: The e-busines presence in the industry emphasized on client service with full dealing everyplace around the word regardless distance and clip zone.
  • Dependability: e-Citi provided latest enlightening engineering supported by a first substructure with response clip, extremely security and 24/7 support. The slogan ‘Citi ne’er slumbers ‘ sounds meaningful.
  • Flexibility: Citigroup ‘s web extension service efficaciously delivers Bankss the benefits of a local presence without the investing in bricks, howitzer and staff. The key was to present an incorporate solution that would enable its clients to carry on dealing online with distinguishable demands.
  • Cost: save clip and cost are the most advantages of the e-Citi theoretical account in market orientation, client with entree to Internet can hold all services at their fingertips and in the convenience of their place or office

E-banking gives Bankss cheaper, faster, more efficient and sophisticated dealing treating power – all supported by Citigroup ‘s service excellence and planetary web. E-Citi can transform the economic sciences of a bank ‘s whole concern line by leting them to vie by fulfilling the most demanding of clients.

Improve market orientations

Theoretical position

In peculiar, market orientation has been positively and strongly linked to steadfast public presentation in legion surveies ( see for illustration Morris & A ; Paul 1987 ; Miles & A ; Arnold 1991 ; Zahra & A ; Covin 1995 ; Hurley & A ; Hult 1998 ; Wiklund 1999 ; Atuahene-Gima & A ; Ko 2001 ; Miles, Munilla, & A ; Covin 2002 ; Matsuno, et al 2002 ) . Once the managers understand the linkages between public presentation and orientation, they should hold a better thought of how to make better public presentation in term of: market portion, velocity of market entry, and degree of merchandise quality ( Atuahene-Gima & A ; Ko 2001 ) .

Based on extended interviews with directors and executives, Kohli and Jaworski ( 1990 ) conclude that market orientation can be achieved by bettering three cardinal factors: Coevals of market intelligence, airing of market intelligence across sections, and broad reactivity to market intelligence. The ground to concentrate on the Kohli and Jaworski position is, because concerns are going more and more information driven, and their determinations, operations, client relationships, supplier relationships and internal networking are progressively information dependant.

Market intelligence assemblage:

Customer focal point is a position on concern that puts clients at the centre of concern determinations and that really dressed ore on client penetration. Customer penetration is a procedure that begins with cognizing and understanding what your clients want, and ends with cogent evidence of their satisfaction with you as an administration. One of the greatest advantages that companies have today is the power of client databases. The detonation of cyberspace and the possibility of entering really specific inside informations about clients, their on-line motion and their purchase behaviour have merely added power to these databases. The first measure for companies in traveling towards market orientation is to optimally leverage client databases.

Market intelligence airing:

To accomplish complete market orientation, administrations should make a systematic construction that would enable the integrating of cross functional to jointly discourse about clients and markets.

Traditionally, selling section handles clients and their demands, finance expressions after the money, operations is singly focused on production and scheme by and large looks at the market outside to make up one’s mind on the company ‘s hereafter. A market orientation mandates that all these maps operate jointly. Market oriented creates a platform whereby representatives from each of these sections can come together and discourse the assorted functional issues so that the corporate action will ensue in activities that enhances the company ‘s relationships with clients.

Responsiveness to market intelligence:

This map included the proper actions toward design, production, distribution, and advancing the new merchandises and services to the market place. Within the model of market orientation, profitableness encompasses both fiscal steps ( such as ROI, market portion… ) and non fiscal steps ( such as consciousness, attitudes and behavioural forms ) . Such a comprehensive measuring would let companies to equilibrate between investing and long term profitableness of the company.

An administration ‘s capablenesss to develop the market oriented towards each of three pillars above depend on the administration ‘s scheme, whether they are willing to introduce the operations and its direction.

Keies alterations in Citigroup to go more market orientated

Prosecuting the e-business theoretical account since 2000, Citigroup wanted to be the in-between mediator between purchasers and Sellerss for any type of dealing, the operational nature of Citigroup has changed quickly. E-Citi developed plans that promoted to different industries and clients, with purpose to let the passage from old-style processing to concentrate on transforming workflow mechanization, therfore its public presentation has bit by bit improved:

  • Restructuring and use divisional direction construction: In fact, in order for Citibank to transform its traditional assets into digital assets in e-Citi theoretical account above, it must foremost set up the sections necessary to pull off this procedure. In March 2000, Citibank formed the Internet Operation Group which was in charge of administering Internet activities among e-Citi and all other concern units. Shortly after that, in April 2000, Citibank formed the e-consumer and e-business sections, designed to inculcate the cyberspace into all client and corporate banking activities. Following that in May 2000, Citibank added e-capital markets and e-asset direction.
  • Customer penetration: To accomplish the client penetration, Citibank has to develop staff to hold the competences required to manage indispensable undertakings which combination of face-to-face informations aggregation ( internally and with clients ) , and analysis of bing public presentation informations ( e.g. ailments and questions, service bringing and use ) .
  • Strengthen partnership: Lessons were learned from anterior failures, when Citigroup tried to pull off all facets of e-business themselves. This clip Citigroup co-operate with cardinal engineering participants in the industry including Oracle, Ecommerce One Inc. , SAP AG, Wisdom engineerings and to develop the e-business theoretical account. It learned from its spouses ‘ strengths instead than travel it entirely. This alteration in scheme allowed the company to invariably concentrate on altering engineering and specific client demands of each several market as demand changed quickly.
  • Promote market orientation doctrine: The e-workplace in market orientation was a enormous encouragement to Citibank when transitioning from the traditional manner of making concern to the electronic manner. The market orientated theoretical account involves changeless attending to development in order to maintain doing ascents.

Keeping orientation over consecutive industry lifecycle periods

Industry lifecycle:

A construct associating to the different phases an industry will travel through, from the first merchandise entry to its eventual diminution. There are typicallyfive phases in the industry lifecycle. They are defined as:

  1. Birth – alternate merchandise design and placement, set uping the scope and boundaries of the industry itself.
  2. Growth – Merchandise invention diminutions, procedure innovationbegins and a “ dominant design ” will get.
  3. Shakeout Phase- Companies settleon the ” dominant design ” ; economic systems of graduated table are achieved, coercing smaller participants to be acquired or issue altogether.Barriers to entry go really high, as large-scale consolidation occurs.
  4. Maturity- Growth is no longer the chief focal point, market portion andcash flow become theprimary ends of the companies left in the infinite.
  5. Reclining- Revenues worsening ; the industry as a whole may be supplanted by a new one.

Rationale for Citigroup keeping market orientation

Following the market orientation and in the context of e-Citi sector we can understand the principle for keeping this orientation over its consecutive industry lifecycle.

  • Citigroup managed to procure 1000000s of dollars in venture capital to construct a booming web of providers and users, altering it is certainly dearly-won and uneconomical of resources and clip invested, such as R & A ; D costs, exchanging cost, developing cost for staff and debut cost to clients
  • Customers may be confused if the bank keeps altering its orientations and they will non react to any new thoughts of the bank subsequently on
  • By the clip, after acquiring used to the e-business theoretical account, the operational efficiency and effectivity will be improved. Further, Citigroup has chances to enrich clients and rivals database to make superior client value and acquire competitory advantages.
  • The dropping of e-business sector if any may do a serious break between company and other spouses of the undertaking, in the instance of Citigroup with Oracle, Ecommerce One Inc. , SAP AG…
  • Cardinal chances for Citibank in the e-Citi theoretical account would be to spread out on their bing good repute, exceeding client service, and enhanced web characteristics. They had a certain dominant market place in this market orientation, if alteration this concern orientation may do it less competitory

Rationale against Citigroup keeping market orientation

Although the e-business theoretical account in market orientation of Citigroup talked above sounds exciting. But it besides faces non few strategic challenges

  • The concern environment, ordinances and engineering supports altering. Keeping excessively long a concern orientation may maintain the bank off-track with competitions. Business orientation demands to update and travel align with the epoch.
  • Rivals may copy the company ‘s orientation theoretical account, in order to keep the competitory advantages, the bank needs endlessly to better and restitute its concern orientation.
  • Industrial lifecycles and procedures evolve over-time, from telegraph payments to e-banking minutess, from hard currency to digital assets… the orientation must be adapted to the industry development.
  • Customer become more demanding and choosey, necessitate the bank has to better invariably in services and merchandise provide in term of clip and cost, Citigroup itself has to set its operation orientation to fulfill the demands.

Citigroup operational nature and public presentation in keeping market orientation

Difficult construction: supermarket theoretical account

Soft construction: e-banking theoretical account

Maintain and enhance from e-banking 2000 to Borderless Banking theoretical account 2004

Consequence on public presentation

New product/service development ( NDP ) procedure

The importance of a NDP procedure

Standing still means falling behind, new merchandises are the lifeblood of any company, fueling its endurance and growing in the long tally. A new success merchandise builds more trade name and stockholder value, reach mensurable aims related to Return on Investment ( ROI ) , adds gross resources, growing markets and helps leverage bing corporate engineering. New merchandise development procedure affects the quality of a merchandise. It can be argued that the sensed value of a merchandise in the market depends on the quality of its design ( Evans & A ; Lindsay, 1996 ) . Improvements in merchandise development procedure enhance the house ‘s repute, corporate image, and the sensed value of the merchandise. Therefore, the house can offer the merchandise at a higher monetary value, achieve greater market portion, and, thereby, maximise its gross revenues grosss speed uping merchandise development and “ development and establishing a new merchandise within the proper clip frame ” , and have a positive impact on a house ‘s public presentation.

NDP is a proactive procedure where resources are allocated to place market alterations and prehend upon new merchandise chances before they occur. In contrast to a reactive scheme in which nil is done until jobs occur or the rival introduces an invention. Many industry leaders see new merchandise development as an on-going procedure, referred to as uninterrupted development, in which the full organisation is ever looking for chances. Product development capablenesss are the footing for successful competition. Successful merchandise development requires basically improved attacks to forming the development procedure, cut downing waste, and supplying merchandises to run into client demands in order to react to planetary competition in our ain markets every bit good as compete efficaciously on a planetary footing.

The phases of NDP procedure

Since 80 – 95 % of all new products/services fail ( Berggren, E. , 2000 ) depending on definition of failure, we find it interesting to look into how operations can input into the development and biddy cut down the hazard of failure of merchandises and services in the market.

Harmonizing to Nigel Slack ( 2007 ) , the operations map is responsible for carry throughing client petitions for service throughout the production and bringing of merchandises and services. New merchandise development ( NPD ) is the term used to depict the complete procedure of conveying a new merchandise or service to market. We can see here, the operation map ever goes au courant with NPD procedure cross-functional squads. There are two parallel waies involved in the NPD procedure: one involves the thought coevals, merchandise design, and item technology ; the other involves market research and selling analysis.

Harmonizing to Peters & A ; Waterman ‘s survey ( 1987 ) , successful houses better understand their user demands, and the chief cause of failure in new merchandise developments is non confer withing the users and disregarding users ‘ demands. Certainly it may be argued that in the really early phase of NPD, administration should concentrate on accomplishing client penetration, it includes:

  • Identifying client demands and outlooks, non merely of your alone merchandises and services, but besides of the degree of service you provide
  • Analyzing your procedures and maps to guarantee they are customer-centric
  • Encouraging and enabling your employees to be able to concentrate wholly on the client
  • Implementing actions to better the client experience
  • Measuring internal public presentation, client behavior and client perceptual experience to find what farther

Recommendations on operations input in Citigroup


Working efficaciously with the other parts of the administration is one of the most of import duties of operations map in the internal procedure. As the operations direction is responsible for pull offing the activities that involve in the production of goods and services. The direct duties include pull offing both the operations procedure, encompassing design, planning, control, public presentation betterment, and operations scheme. The indirect duties include interacting with other support maps which enable the nucleus maps to run efficaciously, these include: the accounting and finance map, human resources map. But the cardinal interacting of operations map is integrating with other two core functional countries within the administration. Such countries include: the sale and selling map, and the product/service development map. With mention to the internal procedure of Citigroup, its concern orientation every bit good as


History of Citigroup.

Citigroup Inc. ( branded Citi ) is a major American fiscal services company based in New York City, NY. Citigroup was formed from one of the universe ‘s largest amalgamation in history deserving $ 140 billion by uniting the bank giant Citicorp and fiscal pudding stone Travelers Group on April 17, 1998.

Citigroup Inc. has the universe ‘s largest fiscal services web, with about 16,000 offices worldwide. The company employs about 322,000 staff around the universe, and holds over 200 million client histories in more than 100 states. It is the universe ‘s largest bank by entire clients & A ; worldwide subdivision web as of 2009. It is a primary trader in US Treasury securities. Its largest stockholders include financess from the Middle East and Singapore.

Citigroup Inc. history day of the months back to the initiation of Citibank in 1812, Bank Handlowy in 1870, Smith Barney in 1873, Banamex in 1884, and Salomon Brothers in 1910.

Structure and products/services

Citigroup ‘s concerns are organized into five groups: Global Banking, Global Markets, Citi Alternative Investments, Citi Investment Research & A ; Analysis and Global Transaction Services. This construction enables them to leverage the merchandise comprehensiveness and geographic range, and efficaciously aline their resources with the clients ‘ demands.

Other major trade name names in Citi ‘s diverse portfolio include Citi Cards, CitiFinancial, CitiMortgage, CitiInsurance, Primerica, Diners Club, Citi Private Bank, and CitiCapital

Operation and fiscal position

Citigroup suffered immense losingss during the planetary fiscal crisis of 2008 and was rescued in November 2008 in a monolithic bailout by the U.S. authorities.

Subprime mortgage crisis:

Heavy exposure to troubled mortgages in the signifier of Collateralized debt duty ( CDO ‘s ) , compounded by hapless hazard direction led Citigroup into problem as the subprime mortgage crisis worsened in 2008. The company had used luxuriant mathematical hazard theoretical accounts which looked at mortgages in peculiar geographical countries, but ne’er included the possibility of a national lodging downswing, or the chance that 1000000s of mortgage holders would default on their mortgages. Indeed, merchandising caput Thomas Maheras was close friends with senior hazard officer David Bushnell, which undermined hazard inadvertence.

As the crisis began to blossom, Citigroup announced on April 11, 2007 that it would extinguish 17,000 occupations, or about 5 per centum of its work force, in a wide restructuring designed to cut costs and bolster its long underperforming stock. Even after securities and securities firm house Bear Stearns ran into serious problem in summer 2007, Citigroup decided the possibility of problem with its CDO ‘s was so bantam ( less than 1/100 of 1 % ) that they excluded them from their hazard analysis. With the crisis deterioration, Citigroup announced on January 7, 2008 that it was sing cutting another 5 per centum to 10 per centum of its work force.

Federal aid:

By November 2008, the crisis hit Citigroup with full force, despite its reception of $ 25 billion in federal TARP ( Trouble Asset Relief Program ) bailout money, and on November 17, 2008 Citigroup announced programs for approximately 52,000 new occupation cuts, on top of 23,000 cuts already made during 2008 in a immense occupation rejects ensuing from four quarters of back-to-back losingss and studies that it was improbable to be in net income once more before 2010. Many senior executives were fired, but Wall Street responded by dropping its stock market value to $ 6 billion, down from $ 300 billion two old ages prior. As a consequence, Citigroup and Federal regulators negotiated a program to stabilise the company and prevent a farther impairment in the company ‘s value. The agreement calls for the authorities to endorse about $ 306 billion in loans and securities and straight put about $ 20 billion in the company. The assets remain on Citigroup ‘s balance sheet.

Citigroup in late 2008 holds $ 20 billion of mortgage-linked securities, most of which have been marked down to between 21 cents and 41 cents on the dollar, and has one million millions of dollars of buyout and corporate loans. It faces possible monolithic losingss on car, mortgage and recognition card loans if the economic system worsens.


On January 16, 2009, Citigroup announced its purpose to reorganize itself into two runing units: Citicorp for its retail and investing banking concern, and Citi Holdings for its securities firm and plus direction. Citigroup will go on to run as a individual company for the clip being, but Citi Holdings directors will be tasked to “ take advantage of value-enhancing temperament and combination chances as they emerge ” , and eventual by-products or amalgamations affecting either runing unit have non been ruled out. On February 27, 2009 Citigroup announced that the United States authorities would be taking a 36 % equity interest in the company by change overing $ 25 billion in exigency assistance into common portions. Citigroup portions dropped 40 % on the intelligence.

On June 1, 2009, it was announced that Citigroup Inc. would be removed from the Dow Jones Industrial Average effectual June 8, 2009 due to important authorities ownership. Citigroup Inc. was replaced by Citigroup ‘s sister house, insurance company Travelers Co.

On October 15, 2009 Citigroup posted the 3rd one-fourth net income of $ 101m, but its portions still fall more than 5 per cent to $ 4.74 in that forenoon trading in New York on concerns about $ 8bn in recognition losingss. In the three months to September, Citi reported a loss per portion of $ 0.27, compared with a $ 0.49 net income in the old one-fourth and a $ 0.61 loss in the 3rd one-fourth of 2008. This loss casts uncertainty on whether Citi can get down refunding the $ 25bn in bail-out money it received. Citi continue to add to its militias – a mark it believes losingss could still lift. It seems that Citigroup faces long route back to profitableness.


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