United States  

Trusted News Discovery Since 2008
One News Page
> > >

Earnings rise at Citigroup

Video Credit: Reuters Studio - Duration: 00:51s - Published < > Embed
Earnings rise at Citigroup

Earnings rise at Citigroup

Citigroup's quarterly profit and revenue rose and beat expectations Monday as the bank kicked off earnings season for the second quarter.

Fred Katayama reports.

0
shares
ShareTweetSavePostSend
 

Earnings rise at Citigroup

Citigroup kicked off earnings season Monday with quarterly profit and revenue that rose and beat Wall Street's expectations.

Strength in consumer banking offset weakness in its trading business.

Consumers continued to borrow money, boosting Citi's loans and deposits.

Trading revenue, however, shrank in both fixed-income and equities.

Bank executives had been warning that slower activity among clients and Brexit-related uncertainties would hit trading revenue.

Citigroup shares fell slightly and pulled down other bank shares.

Citi's net interest margins got squeezed, and that had investors worried that this would lead to lower earnings and profitability for big U.S. banks.

Net interest margin is the difference between what banks pay on their deposits and what they make on their loans.

Investors will get results from JPMorgan Chase and Wells Fargo on Tuesday and Bank of America on Wednesday.



Recent related news from verified sources

Wall Street Hits Fresh Record After Upbeat JPMorgan, Citi Results

U.S. stocks eked out gains to hit fresh record highs on Tuesday, as stronger-than-expected earnings...
Newsmax - Published

Citi earnings beat estimates as fixed-income trading spikes 49%

Citi earnings beat estimates as fixed-income trading spikes 49%ยท *Citigroup reported fourth-quarter earnings that bested Wall Street estimates for earnings and...
Business Insider - Published


You Might Like


Tweets about this


Recent related videos from verified sources

Lightning Round: The Biggest Takeaways From JPMorgan Chase, Wells Fargo, and Citigroup [Video]Lightning Round: The Biggest Takeaways From JPMorgan Chase, Wells Fargo, and Citigroup

Let's take a look at the bank earnings.

Credit: The Street     Duration: 01:09Published

Bank Earnings: One Big Takeaway from JPMorgan, Citi, Wells Fargo [Video]Bank Earnings: One Big Takeaway from JPMorgan, Citi, Wells Fargo

JPMorgan, Citigroup and Wells Fargo all reported. Here was the key tothe strong earnings for the first two.

Credit: The Street     Duration: 02:23Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2020 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.