Arab Today, arab today citigroup profit surges in second quarter
Last Updated : GMT 21:53:08
Arab Today, arab today
Arab Today, arab today

Citigroup profit surges in second quarter

Arab Today, arab today

Arab Today, arab today Citigroup profit surges in second quarter

New York - AFP

US banking giant Citigroup on Friday posted a strong rise in second-quarter profit, as falling credit losses offset a drop in revenues. Net income increased to $3.3 billion in the April-June period, marking a 24 percent jump from $2.7 billion in the same period last year, and an 11 percent increase from the first quarter of 2011, the bank said. Earnings per share were $1.09, the New York-based bank said in a statement, beating analysts\' consensus estimate of 97 cents. Revenues came in at $20.6 billion, topping analysts\' forecasts of $19.9 billion. Net revenues were 7.0 percent lower than in the first quarter of 2010 but 5.0 percent higher than in the first quarter of this year. \"We produced growth in both loans and deposits in Citicorp, reduced assets in Citi Holdings, continued to invest in our core businesses, and improved our financial strength,\" chief executive Vikram Pandit said in the statement. Citi Holdings was the company created to hold risky and distressed assets after the financial crisis, while Citicorp contains the banking giant\'s profitable core businesses. The upbeat report from Citigroup came one day after JPMorgan Chase reported a 13 percent increase in profits in the second quarter.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citigroup profit surges in second quarter Arab Today, arab today citigroup profit surges in second quarter

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today citigroup profit surges in second quarter Arab Today, arab today citigroup profit surges in second quarter

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday