Citigroup profit drops 36% as trading slump casts cloud over earnings | Business

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Citigroup's profit tumbled 36% in the second quarter as weakness in the Wall Street bank's trading business blunted gains from its personal banking and wealth management unit. | News24_Business

Wall Street traders have hit a rough patch, joining investment bankers whose businesses have been weighed down for months by a slump in dealmaking.

While its Wall Street operations dragged, the lender's consumer business helped partly offset some of the weakness.

 

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