Launching the Credit Card in Asia Pacific Countries by Submitted To
Mr.Kiran Kumar Pedada
K.V.Ch.Madhu Sudhana Rao (32)
R.Avinash Kumar (20)
Indian Institute of Planning Management
Banjara Hills, Hyderabad.
Citigroup Inc. is an American multinational financial services company based in New York City. Citigroup was formed from one of the world 's largest mergers in history by combining the banking giant Citicorp and financial conglomerate Travelers Group on April 7, 1998.
Citigroup Inc. has the world 's largest financial services network in the world, spanning 140 countries with approximately 16,000 offices worldwide. According to Forbes, Citigroup used to be the largest company and bank in the world by total assets until the global financial crisis of 2008. Today it is ranked 24th in size compared to HSBC which now ranks as the largest company and bank by assets in the world as of 2011. The company employs approximately 260,000 staff around the world, and holds over 200 million customer accounts in more than 140 countries. It is a primary dealer in US Treasury securities.1 In Asia Citibank started their services in India, Philippines and Hong Kong in 1902. At present they are performing their services in 11 Asian countries. Citibank’s mission in the Asia Pacific region was to be the most profitable provider of a wide array of financial services to an increasingly affluent and middle-income market, and to reach the rapidly growing middle-income households in this region.2
Citibank believes expanding their credit card business into Asia Pacific would be a way to increase their revenue, as they are currently restricted on the number of foreign bank branches they can open. Citibank must decide in which countries of the Asia Pacific it should invest, and which countries to target first.3
We recommend in the first
References: 1) http://en.wikipedia.org/wiki/Citigroup 2) www.personal.psu.edu/users/j/c/jcl12/Citibank_Group7.ppt 3) http://www.businessweek.com/2001/01_09/b3721170.htm 4) http://www.google.co.in/search?