Citigroup earnings up 74%


Citigroup Earnings Up 74 Percent

  • 10/17/11 at 09:14 AM

The bank that received some $476.2 billion in cash and guarantees during the bailout — the most of all recipients — is doing okay for themselves again. Thee years later, third quarter profits total $3.8 billion, up 74 percent, making for a seventh-straight profitable quarter. Poor performances on the investment banking side, as well as big losses in domestic mortgages, kept revenue flat at $20.8 billion, but a paper gain of almost $2 billion makes earnings look all right. CEO Vikram Pandit said, “Citi continues to navigate a challenging economic environment and delivered another quarter of solid operating results.” We hear they’ve also helped inspire a protest.

Related: The Most Powerless Powerful Man on Wall Street [NYM]
Citigroup Earnings Rise 74% to $3.8 Billion [DealBook/NYT]

2 thoughts on “Citigroup earnings up 74%”

  1. I’ve wanted out of Citibank for many years now. But I keep failing because they keep making it difficult and the other big banks seem no better. Now I have been researching credit unions and every one I can find in my neighborhood I need to belong to a church. This was not a problem for me prior to New York. Does anyone know of a credit union someone can join in NYC where you don’t have to be part of some special group?

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