(Corrects 2012 return on assets in fourth paragraph to 0.62
percent from 0.91 percent)
By David Henry
March 5 Mike Corbat, the new chief executive
officer of Citigroup Inc, said the company's profit goal
for 2015 is to earn at least a 10 percent return on its tangible
The target was posted on the company's website on Tuesday in
slides Corbat planned to use a few minutes later in a speech at
an investor conference.
The slides also showed a goal of earning a return on assets
of 0.9 percent to 1.1 percent.
In 2012, the company earned 7.9 percent on tangible common
equity and 0.62 percent on assets, after adjustments for items.
Return on assets was 0.91 percent excluding losses from the Citi
Holdings portfolio of assets that the company is shedding.
Corbat, named CEO in October to replace Vikram Pandit, was
prodded by analysts in the company's January conference call to
set performance benchmarks for the company.
Citigroup shares were up 1 percent at $43.36 in midday
trading in New York.
(Reporting by David Henry in New York; Editing by Gerald E.
McCormick and Dale Hudson)