About: CitiFinancial | CitiFinancial.com | CitiFinancial.ca | Citi Financial Canada | Citi Financial Mortgages | CitiCards

CITIFINANCIAL.COM - CITIFINANCIAL.CA

About CitiFinancial

CitiCards is responsible for around 40% of the profits with GCG, and represents the largest issuer of credit cards across the world as well as a 3,800-point ATM network across 45 countries.

The Consumer Finance division (branded "CitiFinancial") accounts for about 20% of GCG's profits, and offers personal loans and homeowner loans to consumers in 20 countries worldwide.

Citigroup and its predecessor companies use the "diversified financial services business model" first invented by Prudential in the late 1970s. Simply put, this model attempts to conglomerate many types of finance companies, such as stock brokers, banks, insurance companies, and others.

This is done because each of those businesses do better or worse at different times of the business cycle, and so owning all of them balances things out and creates in theory less earnings volatility.

This is also done because customers usually use many different kinds of financial products and attempting to convince them to use more products from the same company sells more products more cheaply, compared to those separate companies strictly selling products on their own.

Generating 55% of Citigroup's 2006 revenues, Global Consumer Group comprises four sub-divisions: Cards (credit cards), Consumer Lending Group (Real-Estate Lending, Auto Loans, Student Loans), Consumer Finance, and Retail Banking.

Targeting individual consumers as well as small- to medium-sized businesses, GCG offers financial services across its worldwide branch network, including banking, loans, insurance, and investment services. On March 31, 2008, Citigroup announced that it will create 2 new global businesses - Consumer Banking and Global Cards out of the existing Global Consumer Group.

CityFinancial provides home improvement loans, bill consolidation loans, money for tuition, vacation getaways and unexpected expenses. They have a solution that helps you afford what you want or need most in life.

Custom Search