Economtermin.ru - Economic terms, news of the economy, the banks of the world
    Main   Economic Terms    Business News    Banks    Company    Real Estate    IT-business    Show Business    Wealth   ru 
Economic Terms
Calendar
«    Февраль 2020    »
ПнВтСрЧтПтСбВс
 
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
 

Citigroup cut its earnings and revenue in the I quarter of 2016
Section:   en » Banks      17 апреля 2016  
Citigroup cut its earnings and revenue in the I quarter of 2016
 
One of the three largest US banks Citigroup Inc. reduced net profit and revenue in the I quarter of 2016. Nevertheless, the bank's financial results were better than analysts' expectations.

After the publication of statements of Citi shares rose 2.5% in the primary auction in New York.

Citigroup's net profit in January-March fell by 27% to $ 3.5 billion, or $ 1.10 per share, compared with $ 4.77 billion, or $ 1.51 per share, for the same period last year.

Proceeds of the bank declined by 10.7% from $ 19.7 billion to $ 17.6 billion. Adjusted revenue was $ 18.637 billion in the I quarter.

Surveyed by Bloomberg analysts on average expected a profit of $ 1.03 per share on revenue of $ 17.5 billion.

The proceeds from the bank's trading operations fell 13% to $ 3.79 billion. In early March, Citi anticipated decrease in this indicator by 15%.

Income from trading bonds were $ 3.09 billion, while analysts had forecast the index at the level of $ 2.97 billion. Revenue from equity trading was $ 706 million and was lower than expected ($ 731 million).

Citigroup Operating expenses decreased by 3% to $ 10.5 billion while expected to decline to $ 10.8 billion.

The volume of overdue corporate loans in January-March, jumped by 97% compared to the same period in 2015 to $ 2.3 billion. Of Citi attributes this to the problems of the energy sector amid falling oil prices.

Citi's capitalization decreased by 13% since the beginning of the year to $ 130.2 billion, while the bank index KBW Nasdaq fell by 8%.
 
See also:

  • Bank of America has reduced the profit by 13%
  • Morgan Stanley in I quarter profit increased sharply
  • Citigroup posted a bond for $ 5 billion
  • Barclays cut its net profit by 52%
  • Deutsche Bank increased its profit more than tripled


  • Banks

    International Monetary Fund

    Wall Street

    Bank of America

    JP Morgan Chase

    Wells Fargo

    Citigroup

    Goldman Sachs

    Morgan Stanley

    HSBC

    Barclays

    BNP Paribas

    Credit Agricole

    UBS

    Credit Suisse

    Royal Bank of Scotland (RBS)

    Deutsche Bank

    Sberbank of Russia

    PrivatBank

    Main   Economic Terms    Business News    Banks    Company    Real Estate    IT-business    Show Business    Wealth    Contact


    Economic Terms
       Copyright 2013 © economtermin.ru