Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

Delayed Quote. Delayed  - 10/21 10:00:17 pm
49.57 USD   -0.02%
06:57p CITIGROUP : Citi extends account operator services in Manila
11:51a MORGAN STANLEY : Foreign Banks Target CNY Clearing Bank in US
09:45aDJBAT Offers to Buy Remaining Reynolds Stake for $47 Billion
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
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
Latest news on CITIGROUP INC
10:09p CITIGROUP INC : Financial Statements and Exhibits (form 8-K)
07:50p CITIGROUP : The Hudson Institute - Book discussion
06:57p CITIGROUP : Citi extends account operator services in Manila
11:51a MORGAN STANLEY : Foreign Banks Target CNY Clearing Bank in US
09:45aDJBAT Offers to Buy Remaining Reynolds Stake for $47 Billion
08:01a CITI : Appointed Depositary Bank for OMV Petrom’s GDR Programme
10/20 Policy Outcomes A Wild Card For Western Areas
10/20 NEW CITI REPORT : Infrastructure – the $59-trillion opportunity to kicksta..
10/20 Saudi Arabia launches US$17.5bn bond offering
10/19DJCITIGROUP : Top Citigroup Compliance Official to Step Down, Sources Say
More news
Sector news : Banks - NEC
09:11pDJWELLS FARGO : Head of Wells Fargo Fund Division Karla Rabusch to Retire in Comin..
07:42pDJJUMBO MORTGAGES : Big Banks Still Love Them
05:18p BARCLAYS : Russia links BBC to row over Russian TV channel's UK accounts
04:39pDJROYAL BANK OF CANADA : Chief Financial Officer to Retire
03:29pDJCITIZENS FINANCIAL : Says Revenue, Profit Rise on Loan and Deposit Growth
More sector news : Banks - NEC
News from SeekingAlpha
10/20 Using VIX In A Stock Portfolio
10/18 BofA Takes Step Toward Still Improbable Goal
10/18 Citigroup And The Mexican Stand-Off
10/18 EARNINGS : Who's Up Next? Yahoo And Intel Today; Morgan Stanley And Halliburton ..
10/18 WALL STREET BREAKFAST : Netflix Jumps Following Earnings Beat
Financials ($)
Sales 2016 70 256 M
EBIT 2016 27 832 M
Net income 2016 13 422 M
Debt 2016 -
Yield 2016 0,86%
P/E ratio 2016 10,66
P/E ratio 2017 9,79
Capi. / Sales 2016 2,05x
Capi. / Sales 2017 2,00x
Capitalization 144 048 M
More Financials
Duration : Period :
Citigroup Inc Technical Analysis Chart | C | US1729674242 | 4-Traders
Full-screen chart
Technical analysis trends CITIGROUP INC
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 54,6 $
Spread / Average Target 10%
Consensus details
EPS Revisions
More Estimates Revisions
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-4.19%144 048
JPMORGAN CHASE & CO.3.38%246 554
WELLS FARGO & CO-17.35%226 696
More Results