Citigroup Reports Record Profit in First Quarter

The transcript discusses Citigroup's strategic direction under CEO Jane Fraser, focusing on efficiency, global reach, and market challenges. Fraser aims to reshape the bank by managing expenses, exiting certain markets, and setting up a new leadership team. The bank faces revenue pressures globally, with a focus on divestitures and strategic consolidation.

What does the text suggest about Citigroup's global reach compared to Bank of America?

What are the implications of Citigroup's trading at the lowest multiple price to book?