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  • Good News for Citigroup Inc. (NYSE:C) - No. 1 Corporate Card Issuer

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    Tuesday August 10, 2010 at 08:46 pm EST

    Citi® - No. 1 U.S. Corporate Card Issuer - The Nilson Report

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    Citigroup Inc. (NYSE:C) announced on Tuesday today that The Nilson report has ranked Citi as the No. 1 Corporate bank card issuer in the U.S. based on transaction volume. Citi was found much ahead of its competitors.

    Hubert JP Jolly, Citi's Commercial Cards Head said “We have continued to make great strides in the U.S. corporate card market, even during the recent downturn, we continued to win business and have seen a substantial increase in the number of transactions flowing through our systems.”

    Citi's North American Head of Treasury and Trade Solutions Amil Gupte said “We are pleased to be recognized as the largest U.S. Corporate bank card issuer, we consistently win new business by ensuring that clients and their needs are the focus of everything that we do.”
    Citigroup Inc. (NYSE:C) Shares closed at $4.00 on Tuesday Which is near support level of $4.07. 
    Resistance levels above - $4.22 and $4.43
    Support Levels - $3.7 and $3.42.

    Shares of Citigroup Inc (NYSE:C) were down 2% on Tuesday after the Fed Meeting. The current level is very important for Citi as it may drop down to $3.7 to the next support. Citi group Inc. (NYSE:C) has shown extremely high volume but resisting any major price change last few weeks. Citigroup Inc.(NYSE:C) sold $3 billion in Senior Notes earlier to get more stability. Citi also announced that It will  raise more Long-Term debt than estimated earlier. It is expected that the current pattern will continue until the Government starts selling its stocks, or a reverse split happens.

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