Will Citigroup Inc. (C) Return to Its Former Glory?

For 2012, JP Morgan reported a record net income of $21.3 billion. The bank’s net income rose from $3.7 to $5.7 billion. JP Morgan CEO Jamie Dimon mentioned the company’s results were hampered by poor performance across all its business units.

HSBC is in a neck to neck competition with Citigroup. HSBC is stated to be in an agreement with U.S. Authorities related to anti-money laundering laws. The company plans to work on the improvement of its compliance policies and procedures. It is facing individual challenges, but looking forward to be well positioned and move ahead.

Better than expected

I am highly convinced that Citigroup Inc. (NYSE:C) will endure. Citigroup is generating impressive earnings with great prospects for the future. It is trying to build on the rich legacy of innovation. It is focusing on international businesses that have been consistent outperformers. Mr. O’Neill and his CEO Michael Corbatt are working hard to guide the Citi and return it to its lost glory. It has a long way to go before it can attain the heights where it was, before 2007, but it seems that it surely will.

The article Will Citigroup Return to Its Former Glory? originally appeared on Fool.com and is written by Binu Buvaria.

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