Citigroup Second-Quarter Profit Helped by Fewer Bad Loans: ChartBy
While profit fell 17 percent at Citigroup Inc. in the second quarter, there’s at least one bright spot: fewer bad loans. Credit costs dropped 15 percent to $1.41 billion, as fewer loans defaulted and the firm reversed reserves in a unit holding unwanted assets. Another strength was fixed-income trading, where revenue climbed 14 percent to $3.47 billion, beating the $3.14 billion estimate of six analysts surveyed by Bloomberg.
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