Citi Financial Statement

880 Words2 Pages

Every Number Tells a Story Financial statements can provide a wealth of information about a given organization. These statements provide information about the company’s financial position, cash flows, operations, performance and changes in the financial position. This information may be used as part of the decision making process for employees, shareholders, investors and competitors. Based upon these financial statements, key ratios are used to provide additional insight as to the financial health of a given company. Being familiar with financial statements can increase financial literacy. For this discussion, Citigroup’s (Citi) financial statements will be reviewed. I chose Citi because as an employee, I want to know that my employer is …show more content…

For example, two of the goals set for 2015 were to “deliver modest positive operating leverage on our core expense base and significantly reduce the drag on earnings due to legal and repositioning costs” (Citigroup, 2016, p.2). Revenues increased by 3% and core operating expenses remained flat. Moreover, Citi’s net income reflects strong earnings for a company that lower headcount, created a more focused footprint and changed its mix of businesses and assets (Citigroup, 2016). It is important to note, that within the financial services industry, many banks have struggled to comeback from the financial crisis in 2008- 2009. Citi’s financial statements is evidence of its efforts to regain momentum despite the negative impact of its Banamex scandal. My recommendations for continued success for Citi is to stay true to our mission which is to “serve as a trusted partner to our customers and clients by responsibly providing financial services that enable growth and economic progress” (Citigroup, 2016). This speaks to the company’s commitment to its employees, shareholders, clients and the communities we serve. US News and World Report ranked Citi as one of the top ten banks of 2016 (Sisolak, 2016). More evidence that Citi is on the right track to recovery and increase

In this essay, the author

  • Explains that financial statements provide information about a company's financial position, cash flows, operations, performance, and changes in the financial situation.
  • Explains that they chose citi because they want to know that their employer is financially solvent. citi's income statement, balance sheet, and statement of cash flows are reviewed.
Show More

More about Citi Financial Statement

Open Document