Citigroup Inc

Citigroup, Inc., established in 1812 and headquartered in New York City, is a global financial powerhouse focused on serving retail, institutional, and corporate clients worldwide. The company formed through the 1998 merger of Citicorp and Travelers Group, expanding into investment banking, treasury services, and consumer finance.

In fiscal year 2024, Citigroup reported US $193.1 billion in total revenue, down slightly from the prior year amid volatile markets and ongoing global restructuring efforts. Net income totaled US $11.7 billion, supported by gains in treasury and trade services and improved credit performance. The bank continues serving clients across emerging and developed markets, especially in Asia and Latin America.

As of year-end 2024, Citigroup employed approximately 233,000 people worldwide—a modest decline from prior years as part of its ongoing cost restructuring to improve capital efficiency.

Its key business units include:

Institutional Clients Group: delivering investment banking, markets, securities services, treasury and trade solutions to corporate and public-sector clients.
Personal Banking & Wealth Management: serving retail customers through Citi-branded consumer banking in markets including the U.S., Mexico, and Asia.
Markets & Securities Services, which operates globally across financing, prime brokerage, and custody services.

Since announcing its strategy reset in 2021, Citigroup has significantly scaled back retail footprint in non-core markets (e.g., Australia, parts of EMEA), while strengthening operations in high-growth regions like Southeast Asia and Latin America. The company is also streamlining branches and accelerating investment in digital and cloud technologies.

Looking forward, Citigroup is prioritizing optimizing regulatory capital, enhancing expense discipline, growing treasury and trade franchise, deepening presence in growth markets, and delivering shareholder returns via dividends and modest share repurchases.