Citicorp gives every sign of running on all its cylinders these days, but that old standby -- credit cards -- is slowing down. The company's senior financial officer said competition in the credit card market is taking its toll on the bottom line.
During the first six months of the Thomas E. Jones year, the nation's biggest bank saw revenues from fees and commissions fall $98 million, or 4%, compared with the same period last year. The reason is "obvious," said executive vice president Thomas E. Jones said last week. "There are more no-fee credit cards around."