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
Click here to unlock this and over one million essays
Show MoreRatio analysis are useful tools when judging the performance of a company by weighing and evaluating the operating performance (Block-Hirt). There are 13 significant ratios that can separate by four main categories, profitability, asset utilization, liquidity and debt utilization ratios. The ratio analysis covered here consists of eight various ratios with at least one from each of these main categories. These ratios were used to compare and contrast the performance of Verizon versus AT& T over the years 2005 and 2006.
Canadian Imperial Bank of Commerce, also known as CIBC, is Canada’s fifth largest bank. Established in 1961, the bank that we know today was formed through the merging of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, these two banks were the largest banks in Canada. CIBC’s head office is located at 199 Bay Street, Toronto, Ontario. This international company operates in Canada, Europe, the United States and the Asia Pacific region. CIBC`s vision is To be the leader in client relationships. They value Trust, Teamwork and Accountability. Their corporate objectives include building on their financial strength, unlocking value for reinvestment and to culture focus on client relationships. CIBC currently
In order to analyze Ally, I will be evaluating its balance sheet and performance ratios over the period from June 2006 to June 2013. This will show the progression of the bank throughout the 2008-2009 financial crisis. I will compare Ally’s financial data to the whole US banking industry as a way to analyze the banks risk and performance over that period. Factors such as profitability, credit risk, capital adequacy, liquidity risk, interest rate risk, market risk, ad off balance sheet exposures will all be evaluated.
... to service our current needs. It is also important that they are committed to the ongoing investment in technology required to deliver the securities, cash and investment management support services we require. The Bank of New York is a well-established financial institution that has outlasted numerous financial hardships, including the Great Depression. It has a long history of providing excellent services to its customers. In the present day, The Bank of New York continues to live up to that reputation by offering its customers a variety of financial services. The future can only get better for the Bank of New York. With the technological era in full swing, the Bank of New York is taking full advantage by specializing in technological securities. In conclusion, The Bank if New York is a historical financial institution that played an important role in the economic growth of the United States. No other bank can say that it has done as much for the United States as has done the Bank of New York.
Better Risk Management: JP Morgan should have consulted their internal risk management department regarding big bets such as credit default swaps. Decisions should not have been made on the reports published by credit
For Chase bank the mission and vision should always be clear to their customers. "At JPMorgan Ch...
Staying true to them will guide us toward continued growth and success for decades to come. As you read more about our vision and values, you will learn about who we are, where we’re headed and how every Wells Fargo team member can help us get there.”(Wells Fargo, 1999). The low accountability Wells Fargo has behind their statement makes them look worse after their 2017 scandal. They have a clear indication of how Wells Fargo is supposed to be running the company, but the company has acted in a different manner. It makes you ponder how reliable statements of those at the top of the company are when they speak to the public. Even though Wells Fargo has made vast changes to their management team, one must wonder if they’re way of improving the company has changed over time. Wells Fargo’s replacement CEO for John Stumpf, Tim Sloan, told the Senate Banking Committee that, “[Wells Fargo] is a better bank today than it was a year ago” (White, 2017). A year later, 2017, Wells Fargo has made no significant positive progress toward turning the company back into what it used to be before the
For this project, we researched Wells Fargo?s performance in the last couple of years as a way to check on its progress to greatness. What we found was an overwhelmingly charismatic company that not only puts down its values in ink, but also strictly abides by them. Much to our surprise, a huge chunk of their thick annual report for 2002 was an honest listing of all the threatening factors that stand in the company?s way rather than its exceptional rankings in its sector. In this paper, we will focus specifically on Wells Fargo?s leadership, company culture, SWOT analysis, and financial performance analysis. We will try to link our findings to Jim Collins?s book as a way to prove that the company has really made the jump from good to great.
Citigroup is one of the most well known financial companies in the world. The company has been one of the pioneers of the business financial world. They have contributed in many contemporary ways in the use of banks, and many other financial systems. Citigroup was a representation of the financial market success of the United States, Wall Street, and the financial world. The company has more than 200 years of history, and had been receiving high credibility from worldwide customers. However, after the company’s merger of Citicorp and Travelers Insurance the company was put under new management. Following their boss’ lead, the corporation began to make decisions that were only made with the best interest of the maximization of Citigroup’s profits in mind. This eventually led to the Recession of 2008 and a very rocky road for Citigroup. The company’s actions were similar to that of Netbank, but the end results of the companies differed due to Citigroup’s size. The financial crisis of Citigroup could have been avoided had the necessary precautions been taken, had these provisions been taken it could have possibly helped to avoid the economic recession of the United States as well.
...t, and corporate values (Baker College, 2016). It is also critical to understand that strategic plans are not “one time” events. Changes in the economy and market require management to re-evaluate the strategic plan of the organization to ensure the plan is effective and will meet the objectives that have been set (Baker College, 2016). Credit unions and their managers must understand that sales revenue depends on the demand for its products and services. It is crucial that credit union continue to evolve and remain competitive in the financial services industry to continue to grow. Jim Marous, Partner at the The Financial Brand and Publisher of the Digital Banking Report states, “Organizations are responding by making significant investments in core systems replacement, digital channels and data analytics to ensure their ongoing competitiveness” (Marous, 2014).
Bank of America is considered one of the major banks in the banking and financial industry. As of May 2015 it established a profit of 163 billion dollars. While creating a substantial amount of profitability in the market, it has also garnered 97.02 billion dollars’ worth of sales. This positive outlook has enabled the organization to have a stock of 15.38 with a positive 31 cents per share. The company functions as an organization that provides banking, non-banking services, and products within the United States and abroad. Its profitability depends on the five important segments needed to be successful and unique in the banking industry. The five segments consists of Consumer and Business banking, Consumer Real Estate Services, Global Banking, Global Markets, and Global Wealth& Investment Management. Consumer
Their Mission Statement is “Whether serving private individuals or Fortune 500 companies, Morgan Stanley Investment Manag...
Citibank was based in New York, which had usury laws that prohibited banks from charging more than 12 percent on loans. They were loaning money out at 12 percent while they had to pay 20 percent on interest. They could not afford to operate in those situations. Walter Wriston former chairman of Citibank said that they “had a credit card division that was hemorrhaging money” (Wriston PBS article). In 1981 they moved out to South Dakota to advance its credit card operation, because South Dakota had removed its usury
Information on the financial statement can offer an overview of a company’s performance over the past fiscal year. However, gaining crucial investment insights requires financial manipulation that yields financial ratios.
This paper will analyze the mission and vision statements of JPMorgan Chase & Co against the performance of the organization. An evaluation of how well the company lives out its mission and vision statement will be provided. The organization’s strategic goals link to the company’s mission and vision will be assessed. An analysis of the company’s financial performance to determine the link between the company’s strategic goals, strategy, and its financial performance. A competitive and marketing analysis of JPMorgan Chase & Co will be conducted to determine its strengths and opportunities.