Citi CEO Vows Cost-Cutting Success to Continue as Trading Slumps

Trading revenue falls about 5%, worse than analysts estimated
Yet expense reductions go $100 million deeper than projected

Bloomberg’s Sonali Basak reports on earnings from Citigroup.Markets: The Open." (Source: Bloomberg)

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By Jennifer Surane

July 15, 2019 at 12:00 PM UTC

Updated on

July 15, 2019 at 4:08 PM UTC

This article is for subscribers only.

At Citigroup Inc., bean counting and boring banking are in ascendance. Trading, not so much.

The lender said it will continue to cut costs in the second half of the year after trimming more than analysts expected last quarter. That outlook helped the stock rebound from a deeper drop after disappointing trading results.