“Let me just chat a bit through this. So how did what's the path to the high returns in U.S. Personal Banking? It's coming from top line revenue growth, improved expense base and also a more normalized credit environment. And that gets us to the mid to high-teen returns in the medium term.”

In context

“stion because you guys have made so much progress in what you're doing in your strategic changes here. But can you talk about the U.S. Personal Banking, many of your questions today is about the RoTCE consolidated and how you can improve that. And this business has a very low RoTCE as you guys know below your cost of capital and structurally when you look at it, if you look at the loans at the end of period just over $220 billion your deposits about $90 billion which is quite a bit different than your peers who have much higher ROEs. So how do you approach this business? And again I know you've been very busy divesting a lot of the businesses that are not important but it seems to me that this is a giant hurdle that you guys have to approach at some point in the near future? Jane Fraser : Let me just chat a bit through this. So how did what's the path to the high returns in U.S. Personal Banking? It's coming from top line revenue growth, improved expense base and also a more normalized credit environment. And that gets us to the mid to high-teen returns in the medium term. I think we feel very confident and comfortable in that. You're seeing the proof points, I talked about banking wealth earlier. We've had another good quarter of revenue growth. We've had the ninth consecutive quarter of operating leverage. So I think you should be getting some comfort around that. What's going to drive that growth? Co-brands, we just extended with American to be their sole issuer. It's going to give exciting benefits to the American Airlines and the Citi cardholders, and it will be beneficial for both our growth and our returns. In the proprietary front, we're investing. There's a lot of investment in innovation to drive growth. So refresh the start of Premier card, we've been enhancing the reward offerings and you're seeing us often now number one in recognitions and awa”