Citigroup adds 3% as earnings, revenue beat analysts' estimates

Citigroup's institutional clients unit saw $10.6B in revenue, a 12% increase year over year and 2% from the second quarter. The personal banking and wealth management division generated $6.8B in revenue, up about 10% year-over-year and 6% from the second quarter.

“Despite the headwinds, our five core, interconnected businesses each posted revenue growth resulting in overall growth of 9%,” CEO Jane Fraser said in a press release. Citigroup reported a total cost of credit of $1.84B at the end of the quarter, a slight increase from $1.82B at the end of the second quarter and $1.37B a year ago. This metric includes a net build of $125 million in the allowance for credit losses during the third quarter.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.

{username} Just Now Share Follow this postUnfollow this post Save Saved. See Saved Items . This comment has already been saved in your Saved Items Author's response{commentContent} Reply 00 Report {username} Just NowAuthor's response Share Follow this postUnfollow this post Save Saved. See Saved Items .

Canada Canada Latest News, Canada Canada Headlines

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

Citigroup Reports Earnings Friday. What to Expect.Analysts surveyed by FactSet expect the bank's profit will fall 28% from the year-ago quarter to $2.5 billion.
Source: MarketWatch - 🏆 3. / 97 Read more »

Here's what to expect from Citigroup's third-quarter earnings reportFriday’s report is the first major update since Citigroup announced a new corporate structure in September.
Source: nbcchicago - 🏆 545. / 51 Read more »

Here's what to expect from Citigroup's third-quarter earnings reportFriday's report is the first major update since Citigroup announced a new corporate structure in September.
Source: CNBC - 🏆 12. / 72 Read more »

Citigroup profit holds steady as investment banking fees jumpCitigroup profit holds steady as investment banking fees jump
Source: Investingcom - 🏆 450. / 53 Read more »

Citigroup earnings are out – Here are the numbersFriday’s report is the first major update since Citigroup announced a new corporate structure in September.
Source: NBCPhiladelphia - 🏆 569. / 51 Read more »