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#2
16th February 2016, 12:19 PM
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| Re: Citibank GCB Singapore
The Global Consumer Bank (GCB) operates 4 geographical business lines — Branded Cards, Retail Services, Retail Banking and Commercial Banking — in Citi's 4 regions: Asia; Europe, the Middle East and Africa (EMEA); Latin America; and North America. Global Consumer Bank (GCB) is spread and well-positioned, with a strategic focus on the 100 cities in U.S. and top emerging markets with the highest growth potential and where target client segments are thriving. It continues to simplify operations and capture global efficiencies. In 2014, Citi announced strategic actions to streamline its consumer footprint to the 24 markets with the greatest scale and growth potential for the firm. As a result, Citi is exiting Consumer operations in 11 markets as well as its consumer finance business in Korea. The new footprint captures more than 96% of GCB's existing revenue base and concentrates resources on markets where scale and network provide the greatest competitive benefit. A major and growing contributor to the company as a whole, in 2014, GCB generated $10 billion in pretax earnings, more than half of Citicorp's total, while improving performance and profitability. Key business drivers demonstrated strong growth: Average loans grew 3%, cards purchase sales increased 3%, assets under management rose 7% and average deposits were up 1%, with growth concentrated in checking and savings accounts. In 2014, GCB businesses held $331 billion in average deposits, included $298 billion in average loans and managed $173 billion in average assets. GCB operates approximately 3,280 branches in 700 cities worldwide. Citibank GCB Singapore  Contact Detail: Citibank Singapore Ltd Global Consumer Group Robinson Road P.O.Box 356 Singapore 900706. |