Here is a list of the top 10 Banks in the World 2015. Banks play an important role by acting as an intermediary and helping in transfer or funds from those who have it in excess to those who are in need of funds. Hence banks ensure that the money deposited in a bank account is used productively. With time banking services have undergone changes like online banking, mobile banking and introduction of banks for specific sectors. The ranking of the top 10 banks is based on the ratio of profit to total assets. This ratio known as return on Assets was considered as it contains profit and assets- two parameters important to measure a bank’s performance.
Citigroup formed in 1998 by one of the world’s largest merger in history between Citicorp- started in 1812 and second largest commercial bank at that time and Travelers group-a leading insurance and investment banking company.
Headquartered in Manhattan, New York city it is the third largest US bank by total asset size (in May 2015) and its largest shareholders include funds from middle Asia and Singapore. Citigroup is organized into two segments- Citicorp, which contains core businesses, Global Consumer Banking and Institutional Clients Group and Citi Holdings which contains non-core businesses-Global Consumer Finance, Citi’s special asset portfolio and brokerage and asset management.
Citibank which is brand which includes the global branch network of Citi has more than 4600 branches in the world and holds more than $300 million deposits and offers Citibank/Citigold checking and savings account, personal wealth management and Citi was the first to introduced digitized smart banking branches. Citigroup has Citi branded cards for credit cards issue, Citimortgage services and Citi commercial banks serving 100,000 small to medium size companies in 32 countries. Under the institutional clients group we have five divisions- Citi Capital Markets Origination, Citi Markets & Securities Services (including Citi Research), Citi Corporate & Investment Banking, Citi Private Bank, and Citi Treasury and Trade Solutions.
Currently headed by Micheal Corbat Citigroup has 243,000 employees globally. Doing business in about 160 countries, it provides service to 200 million customers. With 200 years of experience it strives for providing financial solutions that are simple and creative. Citi is governed by core values: Common purpose (work as one team to serve the customers),conduct responsible finance, Ingenuity and leadership.