Citigroup targeting 9 percent revenue growth
Posted May 08, 2008 11:00 pm
NEW YORK -- Citigroup says its is aiming for 9 percent revenue growth as it looks to rebound from recent struggles tied to deterioration in the mortgage and credit markets.
Citigroup generated $13.22 billion in revenue during the first quarter.
In notes for a presentation to discuss the company's future with shareholders, Citigroup Inc. says it is aiming for between 16 percent and 18 percent return on current equity.
New York-based Citigroup has lost billions of dollars in each of the last two quarters due to bad bets in the mortgage and credit markets. Those losses have the bank raising new cash to shore up its capital base as part of a broader plan to improve operations.
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