Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Citigroup Inc    C

Delayed Quote. Delayed  - 09/28 10:00:59 pm
46.87 USD   +1.08%
09/28DJAnalysts See 57 Billion-Cubic Feet Rise in U.S. Natural-Gas Inven..
09/28 CITIGROUP : C) Closes Reinsurance Deal with Munich Re
09/28 CITIGROUP : Citi Joins Early Warning’s clearXchange® Network
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Citigroup Inc. : Citi Small Business Lending Reaches $9.6 Billion in 2012, Surpasses Goal by $1.6 Billion as Part of $24 Billion, Three-Year Commitment

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/28/2013 | 04:35pm CEST

As part of a three-year commitment to U.S. small businesses, Citi today announced that the bank surpassed its $8 billion lending goal in 2012 by more than $1.6 billion.

Citi loaned a total of $9.6 billion to small businesses in 2012, a 21 percent increase from 2011, when Citi loaned $7.9 billion. Citi has substantially increased its small business lending in recent years, from $4.5 billion in 2009 and $6.0 billion in 2010.

"Small businesses are a critical component of a strong economy and Citi is committed to helping support their growth," said Citi Chief Executive Officer Michael Corbat. "We have increased our lending to entrepreneurs across the U.S. and again exceeded the annual goal for our $24 billion commitment. I'm proud of the dedicated bankers who work with our clients to help them realize their dream of running their own business."

In September 2010, Citi pledged $24 billion in lending over the course of three years - $7 billion in 2011, $8 billion in 2012 and $9 billion in 2013. The announcement was in conjunction with the U.S. Small Business Administration (SBA) to provide access to lending and capital that will speed economic recovery. Citi's total small business lending over the first two years of the pledge is now at $17.5 billion.

Citi has multiple lending programs for small businesses, both conventional and nonconventional, with the goal of responsibly providing loans to as many small business customers as possible. Small business clients have an opportunity to access this capital through loans, lines of credit and other conventional products. In addition, clients are eligible for loans through SBA programs under which Citi is a preferred lender.

"Small businesses are critical to job creation and it is our goal to responsibly lend and support business owners in the communities we serve," said Jerome Byers, Head of Citi Small Business. "But small businesses need more than just loans - they need solutions and tools to operate and grow, such as cash management, payroll services and a banker who understands their needs. We are focused on making banking easier for our clients so they can focus on running their business."

Through the innovative work of its Community Development and Community Capital divisions and the Citi Foundation, through its support for organizations working to expand financial inclusion, Citi remains dedicated to ensuring small business owners who may not qualify for traditional financing have access to capital and the programs they need to succeed. Citi's community-based small business efforts focus on working with local and national organizations, including qualified, mission-based Community Development Financial Institutions, Community Development Corporations, and microfinance institutions, to build the capacity of entrepreneurs to establish themselves, create jobs, and grow.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

Copyright © 2013 Citigroup Inc.

Tags/Keywords:

Citi, Citibank, small business, CitiBusiness

© 2013 Citigroup Inc. Citibank, N.A. Member FDIC. Citibank and Citi with Arc Design are registered service marks of Citigroup Inc.

All Inquiries:
Citibank
Catherine Pulley, 212-793-1401
Catherine.Pulley@citi.com


© Business Wire 2013
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CITIGROUP INC
09/28DJAnalysts See 57 Billion-Cubic Feet Rise in U.S. Natural-Gas Inventories
09/28 CITIGROUP : C) Closes Reinsurance Deal with Munich Re
09/28 CITIGROUP : Citi Joins Early Warning’s clearXchange® Network
09/28 MTN : denies Illegally transferring US$14bn out of Nigeria - The Zimbabwe Indepe..
09/28 MTN denies illegal transfer of $14 billion from Nigeria
09/28 Equate Petrochemical prepares for $3bn bond issue
09/28DJWells Fargo Isn't the Only Bank That Draws Cross-Selling Complaints
09/28 CITIGROUP : Lower Limit for Stock Assets in QFII to Be Canceled
09/28 Ukraine placing U.S. secured $1 bln five-year eurobonds at 2.5%
09/27DJOil Prices Slide as Traders Doubt OPEC Deal
More news
Sector news : Banks - NEC
03:14aDJBOC AVIATION : to Sell 2 Leased Aircraft for US$188 Million
12:28a CREDIT SUISSE, BARCLAYS IN MORTGAGE- : Bloomberg
09/28DJWELLS FARGO : California Treasurer to Suspend Some Business With Wells Fargo -- ..
09/28DJWELLS FARGO'S CLAWBACK : Politicians, Pay Experts Dig In
09/28DJWELLS FARGO : CEO's Isn't Out of Danger Despite Pay Clawback -- Update
More sector news : Banks - NEC
News from SeekingAlpha
09/28 Latest stress test changes bad news for TBTFs, good news for smaller players
09/27 Either bank stocks are easy money or the market is set for a fall
09/27 Why Citigroup Is Targeting Saudi Arabia
09/27 Bank Of America And Wells Fargo Are Breaking Bad
09/26 Bank Of America Retreats From Asia
Advertisement
Financials ($)
Sales 2016 70 318 M
EBIT 2016 26 971 M
Net income 2016 13 155 M
Debt 2016 -
Yield 2016 0,93%
P/E ratio 2016 10,13
P/E ratio 2017 9,25
Capi. / Sales 2016 1,92x
Capi. / Sales 2017 1,87x
Capitalization 134 722 M
More Financials
Chart CITIGROUP INC
Duration : Period :
Citigroup Inc Technical Analysis Chart | C | US1729674242 | 4-Traders
Full-screen chart
Technical analysis trends CITIGROUP INC
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 54,0 $
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mike L. Corbat Chief Executive Officer & Director
James Anthony Forese President & CEO-Institutional Clients Group
Michael E. O'Neill Chairman
Don Callahan Chief Operations & Technology Officer
John C. Gerspach Chief Financial Officer
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
CITIGROUP INC-10.40%133 328
JPMORGAN CHASE & CO.0.50%237 596
INDUSTRIAL AND COML BA..-3.71%232 549
WELLS FARGO & CO-17.05%226 444
CHINA CONSTRUCTION BAN..-10.73%186 893
BANK OF AMERICA CORP-9.15%153 990
More Results