Abstract This paper is a profile and an analysis of Citibank, a wholly-owned subsidiary of Citigroup, now the entity for which financial data are reported. Citibank, always a dominant force in the banking industry in the United States, has become even more powerful following its merger with the Travelers Group to form Citigroup. This paper follows the history and growth of Citigroup.
Table of Contents:
Introduction
History of the Institution
Current Structure of the Institution
Current Operations
Market Share
Competitive Advantage
Response of Citibank and Other Major International Banks to the Y2K Issue
Financial Performance
Tables
Governmental Relations
Summary and Conclusion
From the Paper "City Bank grew rapidly throughout the twentieth century. By the 1980s, Citibank was a wholly-owned subsidiary of CitiCorp, a financial holding company formed by City Bank. At that time, the institution consistently ranked as the largest American bank when measured by total loans, and, more often than not, when measured by total assets. It was, however, generally referred to as the country's second largest bank, because, when measured by total deposits, Bank of America was consistently ranked as the largest American bank. In 1999, Citicorp was replaced by Citigroup following the unprecedented merger of Citicorp and Travelers Insurance. The new company offers the widest array of financial services and products ever offered by a single company."
Abstract This project looks at what retail financial products and policies Citibank offers its customers in the United States and what is currently available in China. It also examines if it is feasible, applicable, or even profitable for Citibank to offer similar products in China.
From the Paper "In 2003 Citibank was also the first bank to be granted the designation of Qualified Foreign Institutional Investors, (QFIIs), and Custodian License from the China Securities Regulatory Commission, (CSRC). In March of that year, Citibank was issued the State Administration of Foreign Exchange, (SAFE), designation after approval from the People's Bank of China. Citibank was first QFII Custodian in the market to have submitted QFII License applications on behalf of their clients to the CSRC. Because of their position in China's financial markets, Citibank was the first QFII custodian to process and settle QFII trades in the domestic securities market."
Abstract This paper attempts to analyse the budgeting practices at Citibank with respect to activity based costing, performance measurement and key performance indicators. Recommendations are also provided.
Outline
Introduction to Financial Management
Introduction to Citigroup
How Citigroup handles Financial Management
Activity Based Costing and Activity Based Management
Stages of Activity Based Costing in Citibank Identification of main cost
Activity Based Budget System
Introduction to Budgeting
How Citigroup handles Budgeting
Evaluation/ Critical Evaluation of the system
Financial Indicators & Non-Financial Indicators
What is Financial Indicator/Non-Financial Indicator
Usage of Financial Indicator/Non-Financial Indicator within Citigroup
Evaluation of Financial Indicator/Non-Financial Indicator
Suggestions of improvement
Sources of Finance and Working Capital
Main sources of Finance within Citigroup
Influences on working capital within Citigroup
Conclusion
Bibliography
From the Paper "Budgeting is used to assist in strategic planning. Strategic or long-range planning requires the specification of objectives towards which future operations should be directed. The search for better methods of allocating and controlling the expenditure of funds has always been very important to managers. With corporations realizing decreasing revenues and governments confronted by huge deficits, budgeting is more difficult than ever. The old methods no longer are suitable for Citibank. The newest forms of budgeting are Zero-based Budgeting (ZBB) and Activity-Based Budgeting (ABB)."
Abstract This report looks at Citibank and the preparation they are doing to combat this Y2K bug. Topics in the table of contents are: Preparations for Y2K (Business Oriented Solutions) and (Risk Management Process), Third Party Year 2000 Compliance, Anticipated Economic Conditions in Y2K, Co-operation and Crisis.
From the Paper "One of the biggest and fastest growing financial institutions in the world is Citicorp. This corporation, headed by chairman John Reed, returned from the brink of financial insolvency five years ago to become a healthy, profitable company that returned 44% through the end of October 1996. During this time, Citicorp improved its efficiency ratio by moving to centralized operations, eliminating costs by closing excess Citibank branches, and by implementing new technology. In 1991, efficiency ratios were at about 65%, but today, they are at 60% (Gutch 6). Citicorp anticipates that these ratios will continually decrease during the next few years due to further operational improvements that are being implemented. Technology is playing a pivotal role as the Bank strives for more efficient operating structures. High-tech improvements and research into giving Citibank cutting edge technologies that attract new customers is also providing Citicorp with data on customer profitability and spending habits. This allows them to focus on the customers with less staff dedicated to back-office operations."
From the Paper "Introduction
Citicorp is the parent of Citibank, which is the largest American bank with assets in excess of $216 billion in 1993 (Moody's 1). The company offers a broad range of financial service for individuals and institutional clients from offices in 32 states, the District of Columbia, and 92 foreign countries. Citibank is involved in consumer loans, credit cards, institutional loans, real estate and a host of other business transactions. This research considers the company's overall business strategy, its recent performance, and evaluates the company in terms of an investment opportunity.
History
Citibank was incorporated in Delaware in 1967 as First National City Corporation; its present name was adopted in 1974. However, the bank's history.."
From the Paper "Chase Manhattan and Citicorp are two of the largest bank holding companies in the United States. Chase Manhattan is the sixth largest bank holding company and Citicorp is the largest bank holding company in the country. Both companies had checkered financial performance during the 1980s and early 1990s, and both have recently recovered. This research examines the financial performance of the companies in relation to each other and to the banking industry as a whole.
Citicorp provides a broad range of financial services for individuals and institutional clients from offices in 32 states and 92 foreign countries. Consumer banking services are provided through more than 1500 offices in five states and the District of Columbia, and through 2000 foreign offices. The company also has a ... "
From the Paper "Citicorp is the parent of Citibank, which is the largest American bank with assets in excess of $216 billion in 1993.. The company offers a broad range of financial service for individuals and institutional clients from offices in 32 states, the District of Columbia, and 92 foreign countries. Citibank is involved in consumer loans, credit cards, institutional loans, real estate and a host of other business transactions. Chase Manhattan is a bank holding company also, and is the sixth largest such company in the United States; Chase Manhattan Bank is the fifth largest American bank.. This research considers recent performance of both banks, their stock performance, and considers both companies in terms of an investment opportunity.
Current Citibank Activities
Today, the global ... "
Abstract This paper is an annotated bibliography of several books and articles discussing the process of management methodology reengineering. Examples of companies like Sprint and Citibank are discussed in terms of the advantages resulting from the schematic restructuring of their management systems.
From the Paper "For the past four decades technology has been growing at an astronomical pace and it has only been due to the very fact of continuous improvements and modifications in the existing styles and techniques. As technology moulds itself to become better and better by the day so must the managerial support behind it improve to keep the pace. A term that could best describe such an escalating sequence of changes is known as re-engineering. This term has been synthesized by adding "re" in the beginning of "engineering" wherein engineering is defined as ?manufacturing something valuable through the combination of various elements.? Hence we develop the idea of re-combining or rearrangement. The element that must be rearranged is the method of carrying out the work; the process more appropriately, it is the business process."
This paper discuses that there is no definitive answer to the question of banking and security transactions on the internet because, as increasing safeguards are added, the defrauders and hackers on the internet always seem to catch up.
Abstract This paper explains that internet crime includes eager young hackers, who infiltrated web sites to see if they can get away with it; professionals, who are looking for individual data and account numbers and computer frauds such as pyramid schemes and stolen credit cards used to defraud people by ordering high-end merchandise. The author points out that Citibank has three "lines of defense" against unlawful use or access to a customer's account information: (1) Firewalls and VeriSign digital IDs, which act as an electronic checkpoint, refusing access to any intruder; (2) a scrambled 128-bit strong encryption and (3) log-on authentication, which includes not only the T-PIN number but also an additional 6-digit alphanumeric code, containing both letters and numbers. The paper relates that internet security has become an industry in itself; many large financial institutions are building gateways to protect their information storage and retrieval systems from unlawful entry.
From the Paper "Banks and other institutions that rely on electronic money transactions are now taking additional steps to assure security for their customers. Citibank is one prominent example. Their "privacy" message, accessible on the Internet, explains "In order to provide better service or to address security hazards, we will occasionally use a 'cookie'. A cookie is a small piece of information which a Web site stores on your Web browser on your PC and can later retrieve. The cookie cannot be read by a Web site other than the one that set the cookie. We use cookies for a number of administrative purposes, for example, to store your prefer3ences for certain kinds of information or to store a password so that you do not have to input it every time you visit our site."
Abstract This paper examines three online banking sites--Bank of America, Citibank, and Wells Fargo--and discusses the legal and confidentiality issues that they must face.
From the Paper "As Americans improve their computer skills and grow more comfortable with banking over the Internet the hackers phishers and other fraudsters are honing their nefarious skills as well ..."
Tags: online banking, privacy, security, Citibank, Bank of America, Wells Fargo
An examination of the bank's history, acquisition by Travelers Group, operations, virtual banking, competition, global issues, Y2K problems in Latin American banks, finances and the role of government. Includes tables.
4,725 words (approx. 18.9 pages), 18 sources, 2000, $ 135.95
From the Paper "The Market For Financial Services: An Analysis of Citibank [Citigroup] and its Role in the Evolving Market.
Introduction
A profile and an analysis of Citibank, a wholly-owned subsidiary of Citigroup is developed in this study. Citigroup now is the entity for which financial data are reported. Therefore, parts of this profile and analysis will focus more on the parent Citigroup than on the subsidiary Citibank.
History of the Institution
Citibank dates to 1812 when the City bank of New York was organized. The new bank was chartered with $800,000 paid-in capital and authorized capital of $2,000,000. The bank received its charter on 16 June 1812, two day prior to the beginning of the War of 1812 between the United States and the..."
From the Paper "Introduction
Rana Talwar, head of Citibank's Asia Pacific Consumer Bank, must decide whether to enter the credit card business in earnest
in Asia; currently, Citibank participates on only a limited basis in Hong Kong. Various country managers have argued against this option, and there is concern that making a Citibank credit card accessible to large numbers of people would dilute the image that the card has among its current holders. On the other hand, Citibank has adopted a global strategy with regard to its credit card business and currently has a noticeable lack of pre-sence in Asia. Talwar must determine whether to enter the credit card market, how to accomplish this, and which countries would be most appropriate to target with Citibank services.
Case Analysis..."
Abstract The paper is a discussion about reengineering management methodologies in the business world. It provides an annotated bibliography, including several books and articles, discussing the process of management methodology reengineering. Examples of companies, such as Sprint and Citibank, are discussed in terms of their advantages in the management field because of the schematic restructuring of their management system. The appendix includes several graphs and tables.
Table of Contents
Introduction
Annotations
Company Examples
Conclusions
Appendix
Bibliography
From the Paper "A term that could best describe such an escalating sequence of changes is known as re-engineering. This term has been synthesized by adding "re" in the beginning of "engineering", wherein engineering is defined as ?manufacturing something valuable through the combination of various elements.? Hence we develop the idea of re-combining or rearrangement. The element that must be rearranged is the method of carrying out the work..."
Abstract This paper briefly describes the Citibank and Enron accounting scandals, the cost of and damages caused by the scandals and the current status of the companies involved.
From the Paper "$2.65 billion. That is the amount the investment Citigroup agreed, less than a year ago, to pay to investors who had bought stock and bonds in the telecommunications giant WorldCom before its bankruptcy filing two years ago. If the adage that 'crime does not pay' is not always true, it is certainly valid when estimating the tremendous cost the WorldCom and Enron investing and accounting scandals have cost employees, investors, shareholder, and ordinary consumers. (Morgenstern, 2004)"
