Northern, WI 06/21/2013 (usastockreport) – The share prices of Citigroup Inc (NYSE:C) had surged by 3.29 percent to close at $47.90 per share for the end of last trading session on Thursday. The shares of the company had been trading in the range of $47.54 to $49.01 per during the day, which had pushed the company to hit new peaks. The shares of Citigroup Inc (NYSE:C) had a market capitalization of $145.76 billion. The stock opened at $48.90 per share.
Citigroup Inc (NYSE:C) is one of the largest financial institutions in the world, with operations in over 100 countries all around the world. Citigroup gained notoriety as one of the hardest-hit banks during the financial crisis and is one of the reasons the phrase “too big to fail” came into being. However, Citigroup Inc (NYSE:C) has made significant improvements to its business in the years since, and the bank is expected to grow its earnings at an impressive rate over the next few years. Recently, Citigroup has taken measures to improve its capital levels and the credit quality of its asset portfolio, and to stabilize its revenues.
Citigroup Inc (NYSE:C) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. The Company operates in two segments: Citicorp, consisting of the Company’s Global Consumer Banking businesses and Institutional Clients Group, and Citi Holdings, consisting of Brokerage and Asset Management, Local Consumer Lending and Special Asset Pool. In February 2012, it sold its 9.85% interest in Housing Development Finance Corporation Ltd. In May 2012, it sold 10.1% interest in Akbank T.A.S. In September 2012, the Company sold EMI Group’s recorded music division, EMI Music, to Vivendi and subsidiary, Universal Music Group.