Covid-19 hit Citi with $17.5 billion in credit losses and allowances, two-thirds of which were in global consumer banking. A $900 million payment erroneously sent to Revlon Inc.’s lenders shaved off 0.3 percentage point from last year’s 6.9% overall return on tangible common equity, leaving it woefully short of the 14% return at JPMorgan Chase & Co.source https://economictimes.indiatimes.com/industry/banking/finance/banking/citigroup-needs-a-new-strategy-for-its-lagging-asian-consumer-banks/articleshow/81384716.cms
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