logo
  

Citigroup Expects Q2 Trading Operations Revenue Drop By Low 30% Range

Citigroup's (C) trading operations revenue could drop by a percentage in the low thirties in the second quarter, Chief Financial Officer Mark Mason said Tuesday at a Morgan Stanley virtual conference.

Investment Banking revenues are likely to be down in the low to mid-single digit range, Mark said.

Mark expects revenues for the quarter for North America consumer likely to be down at the similar level to what they were in the first quarter in terms of the year-over-year performance.

Mark expects that Citigroup will see loan growth start to pick up in the second half of 2021. But again the bank is seeing the dynamic kind of play through as a result of the stimulus. But the bank's estimates right now are that the bank will see that pick up in the back half of the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
General Motors will start replacing defective battery modules in Chevrolet Bolt EVs and EUVs with new modules. The replacement battery modules will be shipped to dealers as soon as mid-October, the automaker said in a statement. CVS Health is set to recruit qualified candidates to fill 25,000 clinical and retail jobs during a one-day national career event on Friday, September 24. This will enable CVS to meet the high demand for pharmacists, pharmacy technicians, nurses, and retail store associates to support flu season, COVID-19 vaccinations and testing. Twitter, Inc. (TWTR) announced Monday that it has entered into a binding agreement to settle the consolidated class action lawsuit commenced in 2016 in the United States District Court for the Northern District of California. Under the terms of the proposed settlement, Twitter will pay $809.5 million...
Follow RTT