Citibank Marketing Strategy
1. EXECUTIVE SUMMARY
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.
2. CURRENT MARKET SITUATION
Leading international financial groups have been seriously affected by the global credit squeeze. Citigroup, the world's biggest bank, announced its second quarterly loss this year by more than $15bn (£7.5bn) of write downs and increased provisions against bad customer loans (Citibank). Analysts have suggested that Citi could cut as many as 2000 of the 12,000 people it employs in London. The London-based operations alone made losses of just over $1bn in the first quarter after $1.9bn of write downs (FT).
Traders at Citigroup's investment banking arm racked up daily losses of more than $100m (£50.8m) on 15 separate days last year, the bank's annual report reveals. The disclosure has added to concerns about Citigroup, one of the banks worst hit by the subprime crisis, and raised questions about its risk management systems. But Citigroup said the data 'highlight the volatility that existed in the markets in 2007' (FT).
BANKS: MARKET DESCRIPTION
Most banks have been celebrating record results for 2007. Italy's Unicredit, the biggest bank in central and eastern Europe, reported a 9 per cent increase in net profits to nearly €6bn ($9.4bn).
MORTGAGES SITUATION BOTH IN UK & US
The phenomenon of "negative equity" is one with which the UK is familiar: tens of thousands of British homeowners, struggling to meet their monthly repayments during the early 1990s. Thus fears exist that the
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.
2. CURRENT MARKET SITUATION
Leading international financial groups have been seriously affected by the global credit squeeze. Citigroup, the world's biggest bank, announced its second quarterly loss this year by more than $15bn (£7.5bn) of write downs and increased provisions against bad customer loans (Citibank). Analysts have suggested that Citi could cut as many as 2000 of the 12,000 people it employs in London. The London-based operations alone made losses of just over $1bn in the first quarter after $1.9bn of write downs (FT).
Traders at Citigroup's investment banking arm racked up daily losses of more than $100m (£50.8m) on 15 separate days last year, the bank's annual report reveals. The disclosure has added to concerns about Citigroup, one of the banks worst hit by the subprime crisis, and raised questions about its risk management systems. But Citigroup said the data 'highlight the volatility that existed in the markets in 2007' (FT).
BANKS: MARKET DESCRIPTION
Most banks have been celebrating record results for 2007. Italy's Unicredit, the biggest bank in central and eastern Europe, reported a 9 per cent increase in net profits to nearly €6bn ($9.4bn).
MORTGAGES SITUATION BOTH IN UK & US
The phenomenon of "negative equity" is one with which the UK is familiar: tens of thousands of British homeowners, struggling to meet their monthly repayments during the early 1990s. Thus fears exist that the
References: 2. Citi Bank official website (assessed at 9th, 10th, 11th May 2008). 3. Chris, G. (2008), “Work in progress? How the credit crunch has its roots in the lack of integrated governance and control systems, The Journal of Risk Finance, Emerald. 4. David, C. (2001), “Financial markets: implications for financial stability”, Emerald. 5. Financial times (assessed at 05th May 2008). 6. Gordon, E. (1989), “An Understanding of Marketing Strategy”, Emerald. 7. John, Dizard. (2008), “Citi should make terms before it runs out of friends”, Financial Times. 8. Julie, M. Francesco, G. (2008), 'Cherry picking ', Financial Times. 9. Lee. S, Andrew, S. (2000), “Building balanced scorecard with SWOT analysis, and implementing, Journal: Managerial Auditing, Emerald. 10. Lewis, D. Johnson, H, (2008), “The subprime mortgage market: familiar lessons in a new context”, Emerald. 11. Neil, H. (2008), “Bank downgrade reflects gloomy day in London”, Financial Times. 12. Nigel. P, William. G, (1989), “Making SWOT Analysis Work”, Journal: Marketing Intelligence & Planning, Emerald. 13. Paul. F, Singh. P, (1992), “Strategic Alliances in Banking”, Emerald. 14. www.HSBC.com (assessed at 12th May 2008). 15. www.barclays.co.uk (assessed at 12th May 2008).