• Text size      
  • Send this article to a friend
  • Print this article

Citigroup reports earnings rise

BANKING giant Citigroup has reported a 2.5% rise in first-quarter earnings to 4.1 billion US dollars (£2.5 billion), which beat the expectations of Wall Street analysts.

Citi was boosted by improving results from a unit responsible for selling off assets including mortgages that soured in the financial crisis.

Michael Corbat, chief executive, said, "Both our consumer and institutional businesses performed well and we grew both loans and deposits while holding the line on our expenses."

Contextual targeting label: 
Business

Commenting & Moderation

We moderate all comments on HeraldScotland on either a pre-moderated or post-moderated basis.
If you're a relatively new user then your comments will be reviewed before publication and if we know you well and trust you then your comments will be subject to moderation only if other users or the moderators believe you've broken the rules

Moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours. Please be patient if your posts are not approved instantly.

226568