Recovery Program on CitiGroup, CitiCorp and City Holdings
To make deep focus in their main goal, where Citicorp will focus on retail banking and commercial business and Citi Holdings focus on management asset division and securities.
As we know, Citigroup is one of bailout members from US Government with a lot of money around $45 millions USD and Citigroup also gets back up from US government as bailsman on treasury and high risk loans around $306 millions USD.
To BBC News reporter, CEO Citigroup Vikram Pandit said that our new strategy is to make more focus on our business and company. Market condition and Economy recession made us to fast our feet, to repair our high profit loss and to increase our performance as one of the American Giant Banking.
Analysts said that the separation into 2 company showed that Citigroup try to build strong business and to get profit from debtors’ interest rate and they will get it beyond on citygroup.
Citicorp has lighter goal and duty but City Holding will responsible on Bad Loans (high risk loans) and to choice which profitable investment in future. To make it goes well, Citicorp now looks for new manager with strongest vision to help Citicorp and CityGroup escapes from problems.
While downed into crash, CityGroup CEO Pandit said that they have commitment to help financial recovery in faster and to build fresh and health financial market in near.
Source: BBC News