Business Case Studies, Leadership Case Study, Tata Group,Ratan Tata

Code : COM0077

Year : 2005

Industry : Banking, Insurance and Financial Services

Region : Asia

Teaching Note:Not Available

Structured Assignment :Not Available

<< Previous

Introduction:Citibank N.A., a subsidiary of Citigroup, celebrated its centennial year in Asia in 2002. Citigroup, with its presence in 20 Asian countries, is the leading credit card issuer and one of the top 10 consumer brands5 in the region. Citibank's customer base, revenue and earnings in Asia are next only to the US, where it has a 'bread and butter' image.

During the early and mid-1990s, Citibank pioneered telephone and Internet banking, credit cards and ATMs in the region. After the Asian financial crises, the Citigroup's Asian consumer business recorded a compound annual growth rate of 20%, while the global net income of the groupwas $17,853 million in 2003.

Analysts predicted that Asia's strong economic growth since the 1990s coupled with the rising demand for financial services in growing markets like China and India and an absence of a pan-Asian financial services group would boost the global bank's expansion plans in future.