Big Banks

Citicorp

Citicorp <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: CCI)") else Response.Write("(NYSE: CCI)") end if %> is the leader of the pack in terms of geographic reach, shareholders' equity, mind share, and diversity of operations. Here in the U.S., the company is the leader in credit card lending, and abroad, Citicorp has a global banking franchise that is tough to match in the comprehensive nature of its services to business. Citibank is an innovator, too, instituting free PC banking years ago and developing ultra-cheap ways of distribution for consumer lending products such as basic mortgages.

In the minds of both the consumer and the business community, the Citicorp's reputation is stellar, and of course, investors have recognized this. The bank is one of the best prepared to keep moving with the global economy, which is reflected by its excellent year-over-year asset growth and profitability.

The Financials

Through six months of the year, Citicorp grew earnings per share 13.8% to $4.11 while ringing up a 12.8% increase in shareholders' equity. Outstanding loans grew 4.8% after taking into account increased loan loss provisions. Noninterest income increased 9.8% and net interest income grew at a lesser rate. Year-over-year, net stock buybacks slowed some, but were still healthy at an annualized clip of almost $2.5 billion.

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