Global 500 rank: 14 (Previous rank: 14)
Profits (millions): $21,538
Change from 2005: -12.4%
Get quote: C
As expenses rose 15% in 2006, net income slipped 12% from the previous year to $21.5 billion. But that was still enough to make it the fifth most profitable company in the world. Some analysts chalk up the earnings dip to the inability of Citi's various units to exploit economies of scale. To help turn things around, CEO Chuck Prince brought in operational guru Robert Druskin to oversee a cost-cutting operation.
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Citigroup
|  Old-economy outfits top Fortune's annual Global 500 list, thanks to rising oil prices and a slew of mergers that drove record profits. (more)  Wal-Mart retakes the lead as the world's biggest company. See which other outfits top our list. (more)  Which automaker lost a whopping $12.6 billion last year? And just how far into the red are stalwarts like Goodyear and Tyson Foods? (more) |
