Why Citibank Branches Are Closing Around The World

Описание: After the company’s collapse during the 2008 recession, Citi’s stock has continuously struggled. Shares of the company saw more than a 30% drop over the last 5 years. In 2021, CEO Jane Fraser announced a bold shift in the company strategy, exiting 14 consumer markets outside of the U.S. and instead doubling down on wealth management. It’s a tactical move that several other major banks like Bank of America and Wells Fargo have adopted in recent years. So will Citi’s bet pay off and can the company return to its former glory?

Chapters:
00:00 — Introduction
01:37 — New direction
04:35 — Rise and fall
07:23 — Revenue streams

Produced & Edited by: Juhohn Lee
Animation: Christina Locopo
Supervising Producer: Lindsey Jacobson

» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision

About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.

Connect with CNBC News Online
Get the latest news: https://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: 
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC

#CNBC

Why Citibank Branches Are Closing Around The World