News Formal

Citigroup’s profit exceeds market expectations on robust investment banking

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 92%

Business News News

Business Business Latest News,Business Business Headlines

Citigroup’s investment banking arm had a strong quarter on the back of a frenzy in merger and acquisition activity

. Revenue in the Institutional Clients Group rose 4 per cent, driven by a 43 per cent surge in investment banking fees.

Citigroup said earlier on Friday it had agreed to sell its consumer businesses in Indonesia, Malaysia, Thailand and Vietnam to Singapore-based lender United Overseas Bank. The bank has incurred higher costs for several quarters to fix the issues regulators identified in its controls systems, leading to questions from investors on how much money and time the remedies will require.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ford crosses $100 billion in market value for the first timeAfter Ford’s shares have doubled in the last year, the company recently crossed the $100 billion mark Doug ? ? ? ?
Source: globeandmail - 🏆 5. / 92 Read more »