Allvoices.com - Credit Losses Hit Citigroup

Credit Losses Hit Citigroup

Shareholder protest before the bank's shareholder' meeting in Munich

Source: Reuters

Shareholder protest before the bank's shareholder' meeting in Munich

Morgan Chase and Goldman Sachs post massive profits , benefiting from the government's efforts to revive Wall Street, Citigroup continues to pursue smaller victories. The company is slowly shedding its involvement in high-risk consumer lending, and its vast store of losing investments.

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News Stories

Loan Losses Squeeze Citigroup, Earnings Disappoint

News Source: Epoch Times | about 1 month ago

Investors clamoring for a quick economic turnaround received a sobering reminder on Thursday as Citigroup, Inc. reported disappointing third-quarter earnings, hurt by bad loans. The bank eked out a $101 million profit prior to dividends to government...
Vikram Pandit's Citi records 101 million dollars profit on recovery road

News Source: NewKerala | about 1 month ago

As one of the harder hit banks in the crisis, Citigroup has been on a campaign to get back to sustained profitability, going so far as to split the company into two divisions and selling off several of its many diverse businesses in recent months...
Citigroup losses hit $3.2bn as customer bad debts at $8bn

News Source: Independent | about 1 month ago

Citigroup provided a sobering reminder yesterday that the US economy is still struggling, reporting that its third-quarter results were weighed down by billions of dollars in failed loans. The bank reported a $101m (€68m) profit before accounting...
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News Source: Zee News | about 1 month ago

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News Source: Seattle Times | about 1 month ago

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