Citicorp's profits have become increasingly dependent on earnings from its activities in developing countries.

While its business in the United States, Japan, Britain, Canada, and Australia are struggling under the weight of problem loans, Citicorp's profits from less-industrialized countries are picking up the slack, according to a recent report by Salomon Brothers.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.