China And Its Regulation System

Citigroup was formed as a result of a merger between Citicorp and the Travelers Group on October 8, 1998. Citicorp started as City Bank of New York in 1812. City Bank of New York increased in size from acquiring several other New York-based banks. It continued to expand in subsequent years by acquiring several other banking entities and expanded across the national boundaries acquired International Banking Corporation in 1918. It went public in 1962 and 1976, it was renamed as Citibank. International expansion continued which gave it a new name of ‘Citicorp’. Citigroup merged with the Travelers Group, which started as the Travelers in 1864. It started as a life and accident insurance company. It also started the operations of commercial credit in 1912. It continued to expand and acquired Shearson Lehman Bros. In 1993 and the Travelers Group was the result of this acquisition. It continued to expand through acquiring companies like Aetna Casualty and Surety Co., Standard Fire Insurance and Salomon Inc. between the periods of 1993 to 1996. Finally, it merged with Citicorp to form Citigroup. Citigroup, which insured its stakeholders that it will grow through internal operations, kept expanding through contrasting channel, which was through acquisition of other companies. Until 2003, revenue, net income and pre-tax profit margin of Citigroup grew more than the sum of net income and pre-tax profit margin of its top three

Randall submits that building firewalls and Chinese walls will abolish the synergies between financial and non-financial institutions. In addition, Randall also points out that government should restrict the areas where synergies is not required to cancel out by building Chinese walls and where the risk is acceptable rather than stop supporting creditors of fragile banks. Randall suggests that there should be barrier for non-banks to enter into banking sector in order to avoid the enlargement of safety net (Randall, 63-74).

In the world of banking and finance nothing stands still. The biggest change of all is in the, scope of the business of banking. Banking in its traditional from is concerned with the acceptance of deposits from the customers, the lending of surplus of deposited money to suitable customers who wish to borrow and transmission of funds. Apart from traditional business, banks now a days provide a wide range of services to satisfy the financial and non financial needs of all types of customers from the smallest account holder to the largest company and in some cases of non customers. The range of services offered differs from bank to bank depending mainly on the type and size of the bank.

You need massive arrangement to compete with the big players, adding that knowledge is a critical component. In spite of that, Capitec was able to turn its beginner status to its advantage. “Most banks inherit their structures, which have been changed

Wells Fargo is an international banking company that provides financial services to its customers. As an international, well known company, Wells Fargo is among the many that follow basic business management aspects. For one, Wells Fargo has a competitive advantage over some of the other companies in this type of business. For one, Wells Fargo major advantages is in the retail banking stores. It has one of the highest numbers in stores/spaces and it’s due to its large network allowing Wells Fargo to be a leader in retail banking. Another advantage this company has is the fact that is has had some changes in regulation which has allowed it to increase profits.

In the financial world JP Morgan Chase has had its fair share of legal problems and while dealing with these problems they’ve lost a lot of their credibility. Business and personal consumers who conduct business with this financial institution has showed over the past few years that they have lost their trust doing business with them. So now that JP Morgan Chase has gotten themselves out of the spot light, JP Morgan Chase is trying to clear their business reputation.

An overview of the principal types of deposits offered by TD Bank personal, small business, commercial banking and investing and competitiveness of these offerings are the strategic weapons or differentiating product features (quality, price, service), which allow some companies within an industry to perform better than others. Industry standards and regulation often set minimum requirements for the industry an as key inputs to the industry, plays a significant role in determining the success of individual companies within the industry. It is not divergent to the use and adoption of rapidly technological advances, which are keys to every firm’s competitive positioning. In fact TD Bank indicates competitiveness of these offerings is terms of price, quality and service, tracking the competitor’s strengths and weakness. By comparing their strengths to its own clearly see where the threats future business may lie. By examining weaknesses, find direct opportunities capitalize on.

Furthermore, Citibank did not intend to hold theses loans. Like many others, Citigroup had suffered unprecedented losses and was facing the prospect of having even more considerable losses. By selling these loans, the bank’s image was greatly improved.

Previously these banks had core strategies of targeting specific markets. They focussed on their main product offerings such as Checking Accounts, and on branch network service provision.

The purpose of Citibank is trying to provide high quality, efficient and personalized service to customers, fully utilize The Bank 's worldwide network and strong purchasing power to improve customer satisfaction on the banks, thereby maintain the loyalty of the bank, establish long-term relationship with the bank, both side get greater benefits in the ongoing business cooperation.

I chose to look into Citigroup and see how their mission statement matches their actions. According to wikipedia, Citigroup is an “american multinational investment banking and financial services corporation headquartered in Manhattan, New York City.”("Citigroup", 2016) Founded in 1812, Citigroup became the third largest bank holding company after a merger with the Travelers group. Now that we know who they are, we will explore whether or not they are true to their missions statement.

Citibank 's strategy in California was to build a profitable franchise by providing relationship banking combined with a high level of service to its customers. Service was delivered face to face (in the branch) or remotely, depending on the wishes of the customers. Customers’ service expectations rose in line with their net worth, as did their profitability for the bank. These customers demanded high levels of service with careful personal attention and a broad selection of financial products. Citibank provided a broad array of services including a dense network of ATM machines, 24 hour banking, and home banking. Financial measures had dominated Citibank 's performance evaluation in the past. But top managers in the division felt that these measures were poor vehicles to communicate the high service strategy of the bank. Frits Seegers wanted people in the division to have a broader view of the business and focus their attention on those dimensions that were critical to the long term success of the franchise. To reflect the importance of non-financial measures as leading indicators of strategy implementation, the California Division developed a Performance Scorecard. It complemented existing financial measures with new measures reflecting important competitive dimensions in the bank’s strategy. The initial version was pre-tested in 1995 and, starting in the first quarter of 1996, Performance Scorecard goals and performance data became a central

Based on the positive global environment within the financial services industry, BOFA should consider global opportunities to increase market share in emerging or developing markets. In emerging markets, the middle class continues to expand and demand products or services from developed countries. This provides an opportunity for large corporations such as BOFA to invest in these markets and expand its market share. However, foreign investment comes with risks such as dealing with a foreign government, regulations, increased compliance, etc. With an uncertain path, large corporations such as BOFA should consider acquisitions with domestic banks to gather market share. The main reason for acquisition of a foreign domestic bank is to allow for seamless integration within the country and market products or services because of that acquisition. This may also limit the amount of risk against a large corporation such as BOFA.

The opening of Citibank Express Service in the departure side of the airports will provide great convenience for Citibank customers (especially business customers and holiday makers). Citibank Express Service which features new product promotions and an online banking facility will offer high accessibility and convenience to Citibank customers when they are at the airports waiting to board their flights. Citibank Express Service will serve better existing customers, attract new ones, and maintain leadership in the affluent segment.

The structure of the banking industry has undergone sweeping changes in the past two decades. In response to heightened competition from non-bank financial firms enabled by technological progress among