Tag: $Citigroup

Citigroup on Friday posted first-quarter revenue that topped analysts’ estimates, helped by better-than-expected trading revenue.

Citigroup on Friday reported a $1.8 billion loss for the fourth quarter as it recorded charges to refill a government deposit insurance fund and carry out a sweeping internal reorganization.

Citigroup Inc. on Wednesday said it set aside $1.3 billion in the fourth quarter to account for risks in Argentina and Russia, citing shocks to both nations’ economies, and said it booked other charges related to its own organizational overhaul and payments stemming from last year’s bank failures.

Citigroup will have an opportunity to show its yearslong turnaround efforts are gathering steam when the bank posts third-quarter results Friday. It won’t be easy.

Citigroup shares rose in premarket on Friday after the bank reported second-quarter earnings and revenue that topped expectations.

Citigroup announced Wednesday it plans to pursue an initial public offering of its Mexico business, Banamex, making formal a long-telegraphed spinoff.