Citibank first quarter pleasant surprise for banking sector

Saturday, April 18th 2009 - 03:48 UTC

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Citigroup reported on Friday its first quarterly net profit in nearly two years, the latest US bank to see an improvement in its performance. It made a profit of 1.6 billion US dollars compared with a loss of 5.1 billion a year earlier. Revenues rose 99% to 24.8 billion. Read full article

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nancymiller
Citi's profits were illusory. Even in Latin American business was down but for the sale of a business. Trading carried the day as did some quirky accounting.

www.trueslant.com/nancymiller
Apr 19th, 2009 - 10:59 am - Link - Report abuse 0
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