Citigroup to shed $500B in assets

Citigroup projects revenue growth over the next two to three years to be strongest in its transaction services division, where it is targeting 14 percent growth. The company believes its global cards business will see the smallest revenue growth, at 7 percent.

It is also aiming for between 16 percent and 18 percent return on current equity.

Citigroup shares rose 1 percent to $24.55 in early trading Friday. The stock is down 17.5 percent in 2008 and 55.1 percent over the last 12 months.

___

AP Business Writer Stephen Bernard in New York contributed to this report.