Card Issuer Profile: Citigroup

Published by: Datamonitor

Published: Apr. 29, 2009 - 107 Pages

Table of Contents

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

Abstract

• 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.

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