New Citigroup CEO Announces Profit Targets For 2015

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Mike Corbat, the new chief executive officer of Citigroup Inc (C.N), said the company's profit goal for 2015 is earn at least a 10 percent return on the company's tangible common equity.

New Citigroup CEO Announces Profit Targets For 2015

Mike Corbat, the new chief executive officer of Citigroup Inc (C.N), said the company's profit goal for 2015 is earn at least a 10 percent return on the company's tangible common equity.

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 0.91 percent on assets, after adjustments for items.

Corbat, was named CEO in October to replace Vikram Pandit, and was prodded by analysts in the company's January conference call to set performance benchmarks for the company.

Citigroup shares were up 1 percent to $43.36 in midday trading in New York.

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