Citigroup Leads the Way in Microfinance Investing for Commercial Banks

Headquartered in New York, Citigroup continues to commit more dollars, through both wholesale and retail channels, to microfinance. With 2005 assets reported as $1.5 trillion and 200 million customer accounts in more than 100 countries, Citigroup is a leader in the commercial banking sector. As of January, 2006 Citigroup was ranked as the largest financial institution in the world by total assets.

Citigroup entered the world of microfinance with a mere $5,000 grant in 1965åö and has now become entrenched in the sector. Citigroup takes a dual approach to microfinanceåö by providing millions in grants through Citigroup’s non-profit arm, while also offering financial services as a commercial partner. The commercial entity, Citigroup’s Microfinance Group, is engaged in a variety of activities with microfinance partners including foreign exchange hedging, securitization of microfinance loans, local private placements and bond issues, direct and co-financing, and cash management.
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