Essay: Citigroup retail banking-the year 2008
Furthermore, the year 2008 was not financially smiling with Citigroup, since the group posted a net loss of $10.4 billion during the first nine months. To further shade light on the indicators of the problems facing Citigroup retail banking, the selling of group’s stakes to other outside investors in order to shore up the capital necessary to ride out the credit crunch say it all.
For instance, in the month of July 2008 Citi sold non-core parts of its business in German retail banking corporations to French firm Credit Mutuel. These are some of the key issues that ought to be tackled in relation to Citi strategies in managing its business operation. Therefore, in order to shade light on the core issues, the discussion shall look at key business lines of the Citigroup.