Once Focused on the Ultrarich,It Now Eyes the ’Unbanked’
Tuesday, July 27, 2004
“Citigroup is also moving down market in other developing countries in a bid to wring profits out of the working class. In part, it is betting that a healthy middle class will emerge in Mexico, Brazil, India, China and a handful of other fast-growing economies. The growth potential, as Citigroup executives see it, is enormous, particularly with credit cards, where profit margins in places like Mexico are fat.” Read full article here.
Source: The Wall Street Journal