16.06.2015 - Citi faces headwinds in commodity trade finance, presses on with expansion
Citigroup Inc and rivals in the commodity trade finance sector are facing headwinds of weak oil prices, sanctions on Russia and stiff competition, which have pressured fees. The U.S. bank, which launched its business in the sector three years ago, has shifted attention from China, where fees are weak, to Africa and Latin America, said Kris van Broekhoven, global head of commodity trade finance. "It's still a tough environment," he told Reuters. "China is not an easy market. It's very competitive and pricing is low. We want growth, but not at any cost."..............................................Full Article: Source
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