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Citigroup, with limited options, hopes to lure deposits digitally

Reuters  |  NEW YORK 

By David HenryNEW YORK (Reuters) - Citigroup Inc is facing a unique dilemma among the four largest U.S. banks: it is light on deposits from individuals, an important funding source that costs little and tends to stick around.While big rivals grew deposits dramatically after the 2007-2009 financial crisis from their broad networks of branches, Citigroup backed out of all but six U.S. cities and closed one-third of its branches. (Graphic: )The bank is now trying to up its game with a new app it plans to begin marketing in the third quarter. ...

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First Published: Mon, July 09 2018. 19:43 IST