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.

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