Ding Dong
... a continuous stream of new and innovative products quickly and more cost-effectively than competitors. Their banking, lending, investment and insurance services serve the needs of individual consumers. Citibank is the current leading provider of credit and charge cards, such as MasterCard®, VISA®, and private label throughout the emerging markets, and have one of the largest networks of ATMs. The 10k and 10q financial reports are required to investigate the financial status of Citigroup. The 10k reports that are used are 1998-2002. In 1998 Citigroup had a net income profit 5,807,000,000. The numerous branches of Citigroup allow a full range of financial services which can serve the needs of small and large corporations, governments, and individual investors. With this kind of variety, Citigroup can bring the power in their direction and have an excellent rank in the banking industry. Bank of America, one of Citibank’s major competitors, announced a fifteen percent increase in earnings per share as of April 14, 2003. In Charlotte, North Carolina, Bank of America Corporation reported first quarter earnings of $2.42 billion, or $1.59 per share (diluted), a fifteen percent increase in earnings per share from $2.18 billion, or $1.38 per share, a year ago. The return on common equity increased to 19.92 percent. All three of the company’s major businesses increased their net i...