Fox Business - The Power to Prosper
Search Site


Citigroup profit rises on smaller loss from troubled assets

Citigroup Inc reported a better-than-expected quarterly net profit as a smaller loss on its troubled assets made up for weakness in its core trading and lending businesses, pushing up the bank's shares in premarket trading.First-quarter adjusted net income rose to $4.15 billion, or $1.30 per share, from $4.00 billion, or $1.29 per share a year earlier, the third-largest U.S. bank said on Monday.Total net income under Generally Accepted Accounting Principles rose to $3.94 billion, or $1.23 per share, from $3.81 billion, or $1.23 per share.Analysts on average had expected adjusted earnings of $1.14 per share, according to Thomson Reuters I/B/E/S.Citigroup shares were up 3.6 percent at $47.32 in trading before the bell, clawing back some of the 9 percent loss since the Federal Reserve rejected its capital plans on March 26.The adjusted loss at Citi Holdings, which holds the bank's portfolio of troubled assets left over from the financial crisis, eased to $292 million from $798 million a y...

Read More

  1. Bank Of America Adds Two New Directors To Board

    Bank of America Corp. is adding two former bank executives to its board of directors, the firm said in a statement. The firm added 54-year-old Clayton Rose, a profes...

  2. Citigroup Posts 2Q Beat, Shares Rise

    Citigroup (NYSE:C) revealed a 26% increase in adjusted second-quarter profit on Monday as equity trading ramped up and mortgage assets regained value amid the housin...

  3. Fight Over Glass-Steagall Could Push Reform

    As a piece of actual legislation, the effort to revive the Depression-Era Glass-Steagall Act is probably dead on arrival. But as a method of keeping pressure on big ...

  4. Citi CEO Says Era of Bank's Major Restructuring Is Over

    Citigroup Inc.'s (C) top executives said the bank is going to continue to favor share repurchases over dividends and that the post-crisis period of substantial bank ...

  5. CEO 'Won't be Satisfied' Until Citi Rebuilds Credibility

    Citigroup Inc.'s (C) top executives said the bank is going to continue to favor share repurchases over dividends and promised the era of shrinking the company is ove...

  6. Citigroup profit rises 31 percent as investment banking grows

    Citigroup Inc reported a higher-than-expected 31 percent rise in first-quarter profit on Monday as revenue from its securities and investment banking business swelle...

  7. Citigroup Beats Street in 1Q

    Boosted by improving credit conditions and less red ink at Citi Holdings, banking giant Citigroup (NYSE:C) beat the Street on Monday by revealing a 31% leap in first...

  8. Citigroup First-quarter Net Income Rises 30%

    Citigroup Inc. said Monday its first-quarter profit increased to $3.8 billion, or $1.23 a share, compared with $2.9 billion, or $1.11 per share, in the comparable pe...

  9. Bernie Madoff: The banks knew

    Exclusive: infamous Ponzi schemer's shocking claim

  10. Dow Hits New All-Time High

    FBN’s Sandra Smith on the day in the markets.

  11. Madoff Claims Banks Knew What He Was Doing

    FBN’s Sandra Smith on Bernie Madoff’s comments that big banks must have known about, and contributed to, his crime.

  12. Madoff to FOX Business: 'The Banks Knew'

    Jailed Ponzi schemer Bernard Madoff plans to amplify his contention, possibly in testimony before Congress, that the big banks he did business with – J.P. Morgan Cha...

  1. 29 of 30 banks pass Dodd-Frank stress test

    FBN’s Peter Barnes on the Federal Reserve’s bank stress test as part of Dodd-Frank.

  2. Madoff Ready to Testify Before Congress

    FBN's Adam Shapiro on Bernie Madoff's attack on banks.

  3. Miami Sues Big Banks Over Discriminatory Lending

    Miami has sued Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and Citibank (NYSE:C) in U.S. federal court in Florida, for discriminatory mortgage lending practic...

  4. Bill de Blasio’s Wall Street inner circle

    FBN’s Charlie Gasparino on incoming New York City Mayor Bill de Blasio’s Wall Street insider, Michael Schlein.

  5. Government’s tentative JPMorgan deal a vendetta?

    RealClearMarkets Editor John Tamny and Pantich Schwarze attorney Fred Tecce on JPMorgan’s tentative deal with the government.

  6. Citigroup results hit by bond trading slowdown

    Citigroup Inc posted weaker-than-expected third-quarter earnings on Tuesday, hit by a drop in bond trading revenue after the Federal Reserve refrained from changing ...

  7. Will Violent Crime Rise Without Stop & Frisk?

    Urban Justice Center's Robert Gangi tells Alan about different policies the police could use that would be more effective and less intrusive than stop & frisk.

‹ Prev12345Next ›
Freebase CC-BY
Source: Citicorp on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL