The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.
Banking

Citi’s Aristeguieta makes his mark in Asia

Five quarters of profit after years of flat performance; consumer revamp gains traction.

Francisco Aristeguieta, the Asia Pacific chief executive of Citigroup, says the bank is “probably 40% into the journey” of its 2020 vision for Asia. But it appears to be already bearing fruit.

Francisco-Aristeguieta-160x186

Francisco Aristeguieta,
Citigroup

After several years of disappointing performance, Citi in Asia has delivered five consecutive quarters of increasingly broad-based growth. 

Overall third-quarter revenues, at $3.75 billion, were up 6% year on year, and net income, at $969 million, up 12%. Within that, the global consumer banking division is up 15% year on year for net income in the third quarter, and the institutional clients group, containing the corporate bank, by 11%.

Aristeguieta says that of the initiatives that have taken place in the two-and-a-half years since he became chief in June 2015, one of the most important has been the revamp of the consumer banking business. 

“The definition of our consumer strategy was on the basis of relevance,” he says. “Can we be relevant to our target market in 17 different markets? That is the fundamental question we are solving.”

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree