Citigroup increased net profit by 2% in the first quarter

118835

One of the largest US banks, Citigroup, reported that in the first quarter, its net profit amounted to 4 billion 710 million dollars, having increased by 2% compared to the same period last year. Profit per share amounted to 1 dollar 87 cents against the experts' forecast of 1 dollar 80 cents per share. Its value increased by 11% due to a 9% reduction in the average number of shares in circulation. During the earnings period, the bank bought 66 million of its own shares. Revenues amounted to 18 billion 576 million dollars, a decline in annual terms by 2%. The institutional client business has reduced revenue by 2%. The bank's income from operations with shares fell by 24%. At the same time, in the field of fixed income asset trading, revenue grew by 1%, while investment banking services showed an annual growth of 20%.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong
Message: