Citigroup results beat forecasts

by Erik on June 14, 2009

in Business Logic, Economy, Markets, Recession

Citigroup has reported 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 $1.6bn (£1.1bn) compared with a loss of $5.1bn a year earlier. Revenues rose 99% to $24.8bn. However, once dividend payments to preferred shareholders were taken into account, it suffered a near-$1bn loss. [via BBC NEWS]

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