Citi’s completion of its three-year plan in Brazil marks significant growth with a 50% franchise increase. Metrics like net interest margin and assets rose notably, yet profits lagged due to global restructuring. A new operational strategy is to be implemented soon, emphasizing market share growth among existing clients.
Citi has completed its three-year expansion plan in Brazil, achieving a 50% increase in its franchise. Key growth metrics include a 114% rise in net interest margin, a 69% increase in assets, and a 72% expansion of the deposit base. However, net profit growth was limited to 35% due to the impact of global restructuring costs, prompting a cautious outlook for future profitability.
Citi’s Brazilian operations show strong growth indicators, although global restructuring measures have tempered profit increases. With a new strategic plan anticipated, the bank will shift its focus towards enhancing market penetration among existing clients while managing ongoing restructuring impacts. The overall economic outlook also presents challenges, emphasizing the need for fiscal responsibility within Brazil.
Original Source: valorinternational.globo.com
