REUTERS: Citigroup Inc reported a better-than-expected quarterly profit on Monday, boosted by a surge in investment banking revenue and lower expenses.
But a 24 percent drop in equities trading pressured Citi's overall revenue, which fell 2 percent to US$18.58 billion and came in slightly below analysts' estimates. Earlier this year, the bank said it would earn US$2 billion more in revenue from lending activities than it did in 2018.Total loans at the third-largest U.S. bank by assets rose 3 percent to US$682.3 billion, while deposits grew 5 percent to US$1.03 trillion, excluding foreign exchange fluctuations.
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:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Citigroup to refund retail customers for investment losses: Australian regulatorCitigroup will refund more than AUS$3 million (US$2.2 million) to retail customers in Australia who suffered losses from complex investments sold ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Investment banks, asset managers shedding jobsINVESTMENT banks and asset managers are trimming their headcount as bottom lines get battered by the US-China trade war, rising US interest rates and slowing economic growth. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Europe: Shares end higher boosted by banks and auto stocks[BENGALURU] European shares finished higher for a third straight day on Friday, with investor sentiment getting a boost from JP Morgan setting a strong start to US earnings and amid signs of stabilisation in China's economy. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Strategic review underway for APTT and Taiwan cable TV investmentASIAN Pay Television Trust (APTT) on Monday said it is undergoing an independent strategic review of options available for the trust and its investment in Taiwan Broadband Communications Group (TBC). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »