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Citigroup is a global bank that moves money around the world, lends to people and businesses, and helps big companies manage their finances.
Citigroup is one of the biggest banks in the world, and it does something most banks don't: it operates like a giant plumbing system for global money. When a company in Japan needs to pay a supplier in Brazil, or an American business wants to move cash between its offices in twenty countries, Citi is often the bank quietly moving that money behind the scenes. That international network is the company's crown jewel — few rivals can match its reach across borders.
The bank makes money in a few main ways. It lends money to consumers and businesses and collects interest, which is the classic banking model. But its real edge is in services: it helps huge corporations manage their cash, process payments, and handle trade across countries. It also runs a massive credit card business, including cards branded for partners like American Airlines and Costco, and it helps companies raise money by connecting them with investors. Citi also has a wealth management arm that serves rich clients and families. Citi's history is full of swagger and scars. It grew into a sprawling financial supermarket over decades, then nearly collapsed in the 2008 financial crisis and needed a massive government rescue. Since then, it has spent years shrinking and simplifying — selling off businesses, exiting consumer banking in many countries, and trying to become leaner and safer. Regulators have repeatedly flagged problems with its internal controls and risk systems, and fixing those has been slow and expensive.
Today Citi's biggest challenge is proving it can be both global and efficient. It faces fierce competition from JPMorgan Chase, Bank of America, and a rising wave of digital payment companies. Its vast international network is hard to copy, but it is also expensive to run. The bank is betting that by getting smaller and cleaner, it can finally turn that global reach into steady, reliable profits instead of a tangle of risk and complexity.
Saved answer · last researched 20 Oct 2026