New Citigroup boss announces profit targets for 2015

Mike Corbat, the new chief executive officer of Citigroup, has announced profit targets for 2015, and said that the global company has identified at least 21 markets where it must make improvements or leave.

Corbat, speaking at an investor conference in Boston, said the company intends to earn a return in 2015 of at least 10 per cent on tangible common equity, compared with the 7.9 per cent the company recorded last year.

He also set a target of 0.9 per cent to 1.1 per cent return on assets, compared with 0.62 per cent earned last year, adjusted for certain items.

via Business feed http://www.scmp.com/business/companies/article/1182687/new-citigroup-boss-announces-profit-targets-2015