Asia punches its weight for Citi once again

The US bank underlined the importance of the region to its global business over 2014, with Asia ex-Japan accounting for 19% of global Ebit.

Citi missed analyst estimates for group fourth-quarter earnings last week and, like the rest of Wall Street, endured a difficult 2014 but Asia continues to pull its weight for the US bank.

In an internal memo to staff, seen by FinanceAsia, Citi underlined the importance of the region to its global business over 2014, with Asia-Pacific ex-Japan accounting for 19% of global earnings before interest and tax Ebit, making it Citi's largest regional contributor outside North America.

“All the elements of the Citi model in Asia clicked in 2014. On the banking side it was a very strong year that’s reflected in increased...

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