CITIGROUP INC:-

citigroup inc



Citigroup INC. or Citi is AN American international investment bank and money services corporation headquartered in new york town. the corporate was fashioned by the merger of banking large Citicorp and financial conglomerate Travelers group in 1998; Travelers was afterward spun off from the corporate in 2002.Citigroup owns Citicorp, the company for Citibank, in addition as many international subsidiaries. Citigroup is incorporated in Delaware.


Citigroup is that the third largest banking establishment within the United States; aboard JPMorgan Chase, Bank of America, and Wells Fargo, it's one in every of the large Four banking establishments of the us.It is thought of a systemically important bank by the financial Stability Board and is usually cited as being too massive to fail. it's one in every of the 9 Global investment banks within the Bulge Bracket.


Citigroup is ranked thirty third on the Fortune five hundred as of 2021. Citigroup has or so two hundred million customer accounts and will business in additional than a hundred and sixty countries. It has 204,000 workers, though it had 357,000 staff before the money crisis of 2007–2008, once it had been bailed out by a massive stimulant package from the U.S. government.


In 2020, it's one in every of the biggest securities services suppliers, having over $23.6 trillion in assets underneath custody (AUC).In Feb 2021 CEO Michael Corbat was replaced by Jane Fraser, WHO became the primary woman CEO of an enormous Four bank.


Jane Fraser, chief govt of Citigroup , joined different top bank executives warning concerning the global economy , expression Europe is additional doubtless to slip into recession than the United State.


Fraser aforesaid that in Europe " energy is basically having an impression on variety of corporations in sure industries that aren't even competitive straight away."


  " Due to price of electricity and also the cost of energy, a number of them are going out of business . thus Europe undoubtedly feels additional liable to going into a recession than what you see within the united states," he added. 


Yesterday, the chairman and chief executive officer of JPMorgan & Chase represented the challenges facing the US economy as a "hurricane," and also the chairman and chief operational officer of Goldman Sachs aforesaid weekday that the present economic turmoil is one in every of the most difficult it's ever long-faced.