Finance

Third-quarter net income dropped nearly 16% from a year earlier as revenues at the company's consumer unit declined at about the same pace and trading revenue gains were below estimates.

CEO Michael Corbat and CFO Mark Mason dodged questions from analysts about how much time and money Citigroup expects to spend to address recent enforcement actions.

The San Francisco bank reported record loan originations thanks to explosive growth in single-family home loans, and profits beat analysts' expectations.

The banking giant may be sitting pretty with plenty of money reserved for bad loans — or it could have to set aside billions more in coming quarters. It hinges on an ongoing U.S. recovery and the passage of a new stimulus package.

The California-based institution joins a small group of CUs that represent only about 7% of institutions but hold about 70% of industry assets.

On Jun. 30, 2020. Dollars in thousands.

Citigroup posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book.

The company defied expectations by cutting its reserve for loan losses by $569 million, after adding $20 billion to the allowance in the first half.

Many consumers around the world rely on cash-based payments, even when shopping online, says PPRO's Steve Villegas.

Morgan Stanley’s $7 billion purchase of Eaton Vance marks the latest wager that finding a big partner is critical to survival in the asset management industry.