Citigroup's most significant challenge currently revolves around the consent decree, necessitating substantial technology investments. Once their internal systems are modernized, they can reduce in-house software development.
Citigroup's latest quarterly presentation reveals that they retired over 290 technology applications year-to-date, replacing them with newer systems.
While waiting for the stock to recover may be frustrating, it's worth noting that Citigroup is providing a 5% yield during this interim period.
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