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Citi on path to growth and stronger returns

By Citi Private Bank, .

August 9, 2017Posted InCiti

The Citi of today is looking leaner, keener and better placed to achieve returns for its shareholders than it has for quite some time.

That was the conclusion from a special event for investors held on 25 July in New York City, the first of its kind in almost a decade. The gathering was focused on the progress Citi has achieved in its business in recent years, as well as its plans for building upon this.

Presentations were given by Chief Executive Officer, Mike Corbat, Chief Financial Officer John Gerspach, as well as the heads of Citi’s Consumer Banking, Cards & Consumer Services, and Institutional Clients Group: Stephen Bird, Jud Linville and Jamie Forese.

The leadership team highlighted the radical streamlining of the business franchise that has taken place in recent years, creating a much greater focus on target clients in the consumer and institutional banking franchises. The results of this transformation are to be seen across a number of Citi’s key metrics. Since 2012, operating efficiency has improved from 65% to 59%, while return on tangible common equity has grown from 7.4% to 7.8%.

Looking to the future, the leadership team discussed key strategic priorities for Citi, including client-led revenue growth via deepening relationships and improved client experience. Driving scale efficiencies and encouraging seed innovation were also singled out as important elements for further optimizing capital deployment and returning capital to investors. 

“Citi has crossed an inflection point and is now clearly on a path to growth and stronger returns,” said Mike Corbat. “I’m excited about our future as we continue to fulfil our mission of enabling growth and progress.”

You can see the presentations – as well as videos, infographics and vital statistics – at this special page dedicated to the 2017 Investor Day

Regular investor days are expected going forward in order to update investors on the execution of strategy and improvement of returns.