Foolish bottom line
Again, these numbers are not directly comparable, but they offer a rough-but-fair picture of where Citigroup Inc. (NYSE:C)p stands in relation to its counterparts when it comes to overseas operations. So what do these numbers say?
Citi takes in more of its total revenue from overseas operations than either B of A or JPMorgan, though the race with B of A is a much closer one. And Wells Fargo won’t even come to the starting block. If nothing else, these numbers show that Citigroup Inc. (NYSE:C) is as committed, if not more, than its peers to pushing beyond the limits of the United States in the search for growth and income.
And where else is continued growth for the big banks going to come from? The U.S. is a finite, mature market for many industries. It’s like the battle between The Coca-Cola Company (NYSE:KO) and PepsiCo, Inc. (NYSE:PEP) for American consumers: in terms of market share, the two companies may trade a few percentage points back and forth from year to year, but room for true growth is limited. Hence, the real battles for these two cola giants are overseas, in developing markets. The same goes for banks.
And what I think gives Citigroup Inc. (NYSE:C) the real edge here is the superbank’s CEO, Michael Corbat. Corbat did a stint as chief executive of Citi’s operations in Europe, Africa, and the Middle East. Who better to lead the global American bank but a globally aware and trained Citi lifer? Citi is perfectly positioned for revenue and income growth exactly where it needs to be: overseas. Wells Fargo, take note.
The article Where Will Citigroup’s Growth Come From? originally appeared on Fool.com.
Fool contributor John Grgurich owns shares of Citigroup and JPMorgan Chase. Follow John’s dispatches from the bleeding heart of capitalism on Twitter @TMFGrgurich. The Motley Fool recommends Bank of America, Coca-Cola, PepsiCo, and Wells Fargo. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, PepsiCo, and Wells Fargo.
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