Citi faces headwinds in commodity trade finance, presses on with expansion

Citigroup Inc (C.N) and rivals in the commodity trade finance sector are facing headwinds of weak oil prices, sanctions on Russia and stiff competition, which have pressured fees. The U.S. bank, which launched its business in the sector three years ago, has shifted attention from China, where fees are weak, to Africa and Latin America, said Kris van Broekhoven, global head of commodity trade finance. Citi started off with oil, added metals last year and plans to include agricultural commodities by the end of 2015.

Citi faces headwinds in commodity trade finance, presses on with expansion source: http://finance.yahoo.com/news/citi-faces-headwinds-commodity-trade-152128264.html