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Card Issuer Profile: Citigroup

Datamonitor
April 29, 2009
107 Pages - SKU: DFMN2268780

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Introduction

Citigroup posted extremely poor financial results in 2008. However, it remains a strong player in terms of product design and co-branding, in addition to having a huge international distribution network. This profile focuses on Citigroup's card operations, highlighting the product strategies and market positioning behind its recent developments, as well as its outlook for the future.

Reasons to Purchase

Gain a detailed understanding of Citigroup's strategy and approach in the card market, and apply the lessons from this to your business.
Learn how this strategy positions Citigroup for the future and where its biggest opportunities may lie.
Compare Citigroup against other leading global issuers using Datamonitor's unique Competitor Benchmark.

Overview: Catalyst; Summary; Table of Contents; Table of figures; Table of tables; Citigroup; Key findings; Citigroup company overview; Company history and background; Citigroup's board of directors and executive committee; Employees; Company structure and the position of the cards business; Geographic coverage of Citigroup; Group key financials; Profit and loss; Citigroup was forced to take up TARP funds from the government following private and public share issue; Balance sheet; Citigroup's cards business; M&A and the impact of geographic expansion on the group and its card business; Citigroup disposed of several of its businesses in an effort to improve its capital position; Citigroup commenced issuance of local-currency debit cards to its retail customers in China in 2008; Citigroup formed a partnership with Green Dot to accelerate its general purpose prepaid card offering; Citigroup plans to sell stake in Redecard, a merchant acquiring and payment processing company in Brazil; Card issuing strategy; As the credit conditions are expected to worsen, Citigroup is focusing on improving is card portfolio but also targeting new customers; Within its card business Citigroup is also continuing to focus on its core co-brand card business globally; Asia Pacific continues to be important region for expansion for Citigroup's card issuing business; Statistics on Citigroup's card portfolio; Number of cards in issue; Balances outstanding; Card product offering; In the US Citigroup's card offering is extensive and innovative; Outside of North America, Citigroup mainly focuses on its core co-brand model; Bahrain: Citibank launches 'the Ultimate Credit Card'; UK: Citibank launches co-braded easyJet MasterCard; In certain market its offering is less broad but is beginning to adhere to the same principle as in the US; Distribution; Outlook for the cards business; In the US Citigroup is aiming to optimize its loan book but also attract new customers; However, saturation in the US market makes continued international expansion a priority; Citigroup's scale and expertise are the key to further expansion but the company is likely to redirect its capital to markets with most potential for growth; Citigroup has a strong platform in Asia and will look to further expand; Expanding into Russia and Latin America are also key strategic goals; Western Europe has limited the scope for growth; Datamonitor Competitor Benchmark
Appendix: Definitions; Affinity card; Charge card; Co-branded card; Commercial card; Credit card; Premium cards; Private label card; Supplementary data; Methodology; Further reading; Ask the analyst; Datamonitor consulting; Disclaimer
List of Tables: Table 1: Citigroup's board of directors, 2009; Table 2: Citigroup's executive committee, 2009; Table 3: Citigroup's profit segmented by line of business, 2004-08; Table 4: Citigroup's Global Cards business profit and loss account, 2006-08; Table 5: Citigroup's Global Cards business profit segmented by region, 2004-08; Table 6: Global Cards income statement and average assets, Q1-Q4 2008; Table 7: Citigroup' number of credit cards in issue in selected markets, 2003-07; Table 8: Citigroup's credit card balances outstanding in selected countries, 2003-07; Table 9: Details of selected Citigroup reward card offerings in the US, 2009; Table 10: Details of Citigroup's selected College card range in the US, 2009; Table 11: Scorecard logic, part one; Table 12: Scorecard logic, part two; Table 13: Citigroup's revenue and profit, 2004-08; Table 14: Citigroup's assets, 2004-08; Table 15: Current relevant publications, 2008-09; Table 16: Future relevant publications, 2009
List of Figures: Figure 1: Citigroup's new structure effective for reporting purposes in second quarter 2009; Figure 2: Citi Holdings structure effective for reporting purposes in second quarter 2009; Figure 3: Citigroup's management committee and new structure, 2009; Figure 4: Citigroup has a global presence, 2009; Figure 5: Citigroup reported a loss of €19.6 billion in 2008; Figure 6: Citigroup reduced its assets from a peak of €1.6 in 2007 over 2004-08 down to €1.4 trillion by 2008; Figure 7: Net credit losses on NA cards soared to the end of 2008; Figure 8: In line with its strategy Citigroup is most active in loyalty and co-brand program offerings; Figure 9: Asia Pacific accounted for the majority of product and services developments within the group, March 2008 to February 2009; Figure 10: Citigroup's private label card offering in the US, 2009; Figure 11: Citi's ThankYou Network reward program is linked to credit cards and other retail banking products, 2009; Figure 12: Citi's website for its ThankYou Network reward program offers a range of redemption options; Figure 13: Citigroup Competitor Benchmark

Card Issuer Profile: Citigroup

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