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
The U.S. air travel industry is going through its worst crisis since the troubled travel time during the peek pandemic struggles, with thousands of flights across the country being cancelled or getting delayed. The aviation crisis, as millions are preparing to travel during the upcoming July 4th holiday weekend, is mainly attributed to the staffing issues at airlines, ... The U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS has issued a public health alert for Siluriformes products imported by Carlstadt, New Jersey- based Grand BK Corp. The products were imported from Korea, a country ineligible to export Siluriformes products to the United States. Blount Fine Foods is recalling a limited amount of Panera at Home Southwest Corn Chowder citing undeclared wheat allergen, the U.S. Food and Drug Administration said. The recall involves a single lot of 16 oz. product with UPC Code 077958690812, lot number 042122-2K and "Use By" date of 6/30/22 that comes around 2,569 cases in total. The recall is limited to 1 SKU of 16 oz.
Follow RTT