Skip to content
Subscriber Only

Citigroup Doesn’t See Tax Boon Fading Anytime Soon

  • Effective tax rate seen dropping to about 24% in two years
  • JPMorgan expects its tax bill to start climbing again
Video player cover image
Bloomberg Intelligence’s Alison Williams examines Citigroup’s fourth-quarter results.(Source: Bloomberg)
Updated on

Citigroup Inc. envisions years of tax-reform benefits ahead, even as competitors warned that their rewards may soon start fading away.

Last month’s Republican-led legislation cut Citigroup’s effective threshold to about 25 percent in 2018 and company executives said it will go even lower from there, leading the bank to boost its forecast for profitability. That contrasts with JPMorgan Chase & Co., which said last week that its lower rate is likely to start climbing in coming years.