Investing.com - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Citigroup second-quarter trading revenue trends tracking competitors: CEO

Published 06/01/2017, 05:14 PM
Updated 06/01/2017, 05:20 PM
© Reuters. A view of the exterior of the Citibank corporate headquarters in New York, New York
C
-
BAC
-
GS
-
JPM
-

NEW YORK (Reuters) - Second-quarter trading revenue trends at Citigroup Inc (N:C) were "in line" with recent descriptions by competitors, Chief Executive Mike Corbat said on Thursday.

Corbat spoke at an investor conference after executives from JPMorgan Chase & Co (N:JPM), Bank of America Corp (N:BAC) and Goldman Sachs Group Inc (N:GS) said at conferences on Wednesday that trading revenue was down from a year ago on lower volatity and weaker client activity.

Corbat said the bank will give more details in a presentation later this month. JPMorgan described a decline so far of about 15 percent. Bank of America described a 10-to-12 percent decline.

© Reuters. A view of the exterior of the Citibank corporate headquarters in New York, New York

Year-earlier results were boosted by trading ahead of the United Kingdom's vote on Brexit.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.