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Why Citibank Branches Are Closing Around The World

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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

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Why Citibank Branches Are Closing Around The World
Category
Tech
Tags
CNBC, CNBC original, business
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