Citigroup reveals all

Citigroup opens its books and reveals the numbers on its Asian businesses.

Citigroup held an analysts' and investors' meeting in Hong Kong yesterday September 22 to brief its shareholders on its performance in the region. In the process the bank revealed financial breakdowns of its various business lines for the first time.

At the top line, the bank revealed Citigroup Asia made revenues of $7.6 billion in 2004 and profits of $2.6 billion, about 15% of total global profits. Geographically these numbers come from non-Japan Asia including Australia and New Zealand.

To put these figures in context, Citigroup Asia would rank as the 40th largest global financial company on a stand-alone basis and...

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