{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
Markets
As of: {{timeStamp.date}}
{{timeStamp.time}}

Markets

{{ currentBoardShortName }}
  • Markets
  • Indices
  • FX
  • Energy
  • Metals
  • Live
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
{{data.symbol | reutersRICLabelFormat:group.RICS}}
 
{{data.netChng | number: 4 }}
{{data.netChng | number: 2 }}
{{data | displayCurrencySymbol}} {{data.price | number: 4 }}
{{data.price | number: 2 }}
  • BREAKING

    MTY FOOD GROUP TO BUY IMVESCOR FOR $248M

Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:
ON OFF

The information you requested is not available at this time, please check back again soon.

Oct 12, 2017

Citi reports higher profits, aided by asset sale

Big U.S. banks beat, but is it enough?

VIDEO SIGN OUT

Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

Citigroup Inc (C.N) reported a higher quarterly profit as it kept costs lower, recorded a large gain from an asset sale and had a smaller-than-expected decline in trading revenue.

Revenue from trading bonds and stocks fell 11 per cent from a year earlier but the figure was not as bad as the 15 per cent decline Chief Financial Officer John Gerspach projected at a conference three weeks before the end of the third quarter.

The company's shares were slightly higher at US$75 in pre-market trade.

Major Wall Street banks have seen a steady decline in market trading activity, which was boosted last year on higher global macroeconomic uncertainty, especially around Brexit and the U.S. presidential election.

The fourth-biggest U.S. bank by assets said on Thursday that net income rose to US$4.13 billion in the third quarter ended Sept. 30 from US$3.84 billion a year earlier.

Earnings per share rose about 15 per cent to US$1.42 from US$1.24 as the company shrank the number of shares outstanding by 7 per cent - buying back stock under its biggest capital return plan approved by the U.S. Federal Reserve.



Results included a US$355 million gain, worth 13 cents a share, from the previously disclosed sale of a fixed income market analytics and index business.

Analysts on average had expected earnings of US$1.32, according to Thomson Reuters I/B/E/S. It was not immediately clear if the numbers were comparable.

The bank's total revenue rose about 2 per cent to US$18.17 billion. Expenses were US$10.17 billion, 2 per cent lower than last year.

Since taking the helm five years ago, Chief Executive Michael Corbat has pushed to improve shareholder returns by cutting expenses, shrinking the bank and freeing up capital to buy back stock.

Return on tangible common equity rose to 8.4 per cent from 7.8 per cent. Corbat's target for the measure of profitability is 10 per cent in 2019 and 14 per cent in the longer-term.

JPMorgan Chase & Co (JPM.N), the biggest U.S. bank by assets, earlier on Thursday reported a better-than-expected quarterly profit, but said its bond trading revenue slumped 27 per cent.