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  - 08/31 10:00:15 pm
47.74 USD   -0.33%
07:08a Fearing lawsuits, U.S. banks set sky-high limits for director pay
02:31a CITIGROUP : Citi rates RSG as Buy
02:31a CITIGROUP : Citi rates ABC as Neutral
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Citigroup Inc. : Citi to Shut Half its Greek Branches

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/21/2012 | 11:46pm CEST

Citigroup Inc. (C) is closing nearly half of its 37 bank branches in Greece, almost four years after it first decided to exit retail banking there.

Citi blamed the ailing Greece economy for the decision to close 16 branches there; about 170 employees will lose their jobs, according to a person familiar with the matter. Selling a bank in Greece proved tough in the European fiscal crisis that pushed Greece and other European countries in deep economic trouble.

The bank will keep 21 branches in Athens and Thessaloniki until a buyer is found for its remaining Greece retail banking, credit card and consumer lending businesses.

Citi has been selling or shuttering its retail banking and consumer lending businesses in several European countries, including retreats in Scandinavia and from its much larger retail banking business in Germany. Citi recently sold its Citibank Belgium and its U.K. online bank Egg Banking PLC, among other consumer businesses.

In 2009, it created Citi Holdings, a division that manages all assets and business that Citi decided wouldn't fit with more narrowed strategy following the financial crisis. It has scaled back and restructured several hard-to-sell businesses in its holdings division, including its OneMain Financial consumer lending business in the U.S.

Citi has said it sold more than 60 businesses and reduced assets in Citi Holdings by more than $600 billion since the financial crisis began.

Meanwhile, the Citi continues to concentrate its U.S. retail banking branches in large cities. Those Citibank branches remain part the core operations Citi wants to keep and grow.

It will close nine of its 31 Citibank branches in Massachusetts that aren't in Boston; customers there will be informed after Thanksgiving. It is unclear how many positions will be eliminated.

"Boston remains a U.S. key market for Citibank," a Citi spokeswoman said. The Boston Herald previously reported the branch closings.

For years, it has closed Citibank branches outside the cities it considers key to its urban banking strategy and opened branches in big cities, including New York. The bank added five branches so far this year, one in San Jose, Calif. and four in New York City, the spokeswoman said. It is planning to open another three in December in Florida, Pennsylvania, and California.

More branch openings are planned for early next year; Citi wants to keep the number of branches steady at around 1,000 in the U.S., the spokeswoman said.

Write to Matthias Rieker at matthias.rieker@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CITIGROUP INC
07:08a Fearing lawsuits, U.S. banks set sky-high limits for director pay
02:31a CITIGROUP : Citi rates RSG as Buy
02:31a CITIGROUP : Citi rates ABC as Neutral
08/31DJCall-Center Software Providers Genesys, Interactive Intelligence to Merge
08/31DJU.S. Watchdog Seeks Assurances on Planned Shipping Alliance
08/31DJDeutsche Bank Weighs Stronger Medicine
08/31 DIRECTOR DEALINGS : Restaurant Group Non-Executive Buys First Shares
08/31 CITIGROUP : Citi rates MML as Neutral
08/30DJFDIC Fund Climbs to Postcrisis High
08/27 ELECTRONICS FOR IMAGING : EFI to Present at the Citi 2016 Global Technology Conf..
More news
Sector news : Banks - NEC
07:26aDJCOMMERZBANK : Asia Manufacturing Shifts Into Gear
07:08a Fearing lawsuits, U.S. banks set sky-high limits for director pay
05:55aDJChina Manufacturing Index Returns to Expansion Land
03:50aDJBANK OF PHILIPPINE ISLANDS : BPI Signs $400 Million, 3-Year Syndicated Loan
08/31DJWELLS FARGO : Amazon End Student-Loan Partnership -- Update
More sector news : Banks - NEC
News from SeekingAlpha
08/30 Sectors That Benefit From Rate Hikes - Cramer's Mad Money (8/29/16)
08/29 My Updated Portfolio, With 2 Purchases
08/29 Trump Is Still Winning
08/29 Magic Money
08/25 AGILENT TECHNOLOGIES INC. : A Total Return Technology Company (Part 1 Single Let..
Advertisement
Financials ($)
Sales 2016 69 848 M
EBIT 2016 22 588 M
Net income 2016 13 184 M
Debt 2016 -
Yield 2016 0,92%
P/E ratio 2016 10,31
P/E ratio 2017 9,46
Capi. / Sales 2016 1,99x
Capi. / Sales 2017 1,94x
Capitalization 138 703 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
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 54,2 $
Spread / Average Target 13%
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-7.75%139 167
WELLS FARGO & CO-6.55%255 406
JPMORGAN CHASE & CO.2.23%243 809
INDUSTRIAL AND COML BA..-1.53%237 959
CHINA CONSTRUCTION BAN..-9.00%187 679
BANK OF AMERICA CORP-4.10%165 216
More Results