Citigroup Inc

(NYSE:C)

Citigroup Inc. (Citi) is a financial services holding company. The Company's whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The Company operates through two segments: Citicorp and Citi Holdings. Citicorp is the Company's global bank for consumers and businesses and represents its core franchises. Citicorp is focused on providing products and services to customers and leveraging the Company's global network, including various economies. As of December 31, 2016, Citicorp was present in 97 countries and jurisdictions, and offered services in over 160 countries and jurisdictions. Global Consumer Banking (GCB) provides traditional banking services to retail customers through retail banking, including Citi-branded cards and Citi retail services.

$78.30 0.91 (1.18%)

Quote Date: Jan 19, 4:14PM EST

Data delayed 15 minutes
Currency in USD

C News

    Citi reports October credit loss 2.38% vs. 2.44% last month


    Reports October 30-plus day delinquency rate 1.57% vs. 1.5% last month.

    C11/15 14:06 EDT

    Citi put volume heavy and directionally bearish


    Bearish flow noted in Citi with 13,126 puts trading, or 5x expected. Most active are Nov-17 71 puts and 11/24 weekly 70 puts, with total volume in those strikes near 6,100 contracts. The Put/Call Ratio is 1.87, while ATM IV is up nearly 2 points on the day. Earnings are expected on January 16th.

    C11/15 09:55 EDT

    Bofa/Merrill to hold a conference


    Future of Financials Conference 2017 is being held in New York on November 14-15.

    OAK;C;ARES;SBNY;USB;ASB;BOH;IVZ;MC;AB;NYCB;CFG;C;ARES;SBNY;USB;ASB;BOH;IVZ;MC;AB;NYCB;CFG11/14 07:14 EDT

    Citi invests in Behavox, a software company that monitors staff, FT reports


    Citigroup has invested in financial technology company Behavox, which develops artificial intelligence software to monitor phone calls, emails and electronic chats of employees to check for any signs of wrongdoing, the Financial Times reports, citing Behavox. Citi, which plans to use the software to benefit customer relationships, led the $20M fundraising tound, which has valued the company at $200M. [Reference Link]:Link

    C11/14 06:22 EDT

    Citi announces pilot of digital proxy voting platform Proxymity


    Citi announced the "successful" pilot of a new digital proxy voting platform, Proxymity, which directly connects and authenticates the issuer and investor and makes the voting process more efficient, accurate and transparent. The platform, which is supported by Computershare for registry services, will initially be rolled out in the U.K. market for the 2018 proxy season with plans for additional market expansion later in 2018. Proxymity was conceived and developed through Citi's D10X Program, an internal strategic growth model that enables employees to take new business ideas from concept to launch.

    C11/13 13:10 EDT

    Citi's credit-card growth plans hit a snag, WSJ reports


    Citigroup has steadily grown its card business amid its turnaround plans but the division has started to falter and the bank decreased its profitability potential for Citi-branded credit cards to an at least 2.15% return on assets down from 2.25%, the Wall Street Journal reports, citing the bank. The business has faced pressure from increased card activity that does not tend to generate as much as lending income as well as customers' elevated demand for rewards which comes as investor expectations rose after CEO Michael Corbat announced the completion of restructuring. [Reference Link]:Link

    C11/13 07:00 EDT

    Deutsche Bank selects bookrunners for asset-management IPO, Reuters says


    Deutsche Bank (DB) has picked Barclays (BCS), Citigroup (C) and Credit Suisse (CS) as senior bookrunners for the bank's asset-management unit IPO, Reuters reports, citing a source familiar with the matter. Deutsche Bank said in March it planned to list the asset management arm, which could achieve a total valuation of around $9B, within two years as part of an overhaul. [Reference Link]:Link

    DB;BCS;C;CS11/13 06:20 EDT

    Virtusa price target raised to $52 from $38 at SunTrustCiti


    SunTrust analyst Frank Atkins raised his price target on Virtusa (VRTU) to $52 and kept his Buy rating following Q2 results. Atkins says that despite the significant stock reaction to the report, the company's "solid growth trajectory and steady margin improvement" should support the multiple given the traction with Virtusa's top client Citigroup (C) and growth across its product portfolio.

    VRTU;C11/10 07:12 EDT

    Virtusa upgraded to Buy at Maxim amid strong ramp in banking wins


    As previously reported, Maxim analyst Brian Kinstlinger upgraded Virtusa (VRTU) to Buy from Hold and set a $51 price target. Kinstlinger cites increasing demand from its largest customer - Citigroup (C) - as well as generally stronger-than-expected ramp on recent large banking wins driving Q2 revenue beat. The analyst also calls the Polaris acquisition "one of the best we've seen in IT services market", as Virtusa benefited from its large UK banking win.

    VRTU;C11/9 08:19 EDT

    Wex announces partnership with Citibank on new GSA SmartPay 3 contract


    WEX (WEX) announced that it is eligible to support U.S. government card and payment services through its partnership with Citibank (C), which was awarded one of two contracts for GSA SmartPay 3. Citi has selected WEX to offer their fleet card solution to provide a range of services and offerings to a number of government agencies. The new program runs through 2031 and Citi and WEX will remain among an exclusive group of providers of card and payment services to government agencies and organizations.

    WEX;C11/7 06:37 EDT

    Salesforce to hold a conference


    DreamForce 2017 is being held in San Francisco on November 6-9.

    ADDDY;IBM;C;CZR;FOXA;TIME;GOOG;ACN;CRM;IBM;C;CZR;FOXA;TIME;GOOG;ACN;CRM;IBM;C;CZR;FOXA;TIME;GOOG;ACN;CRM;IBM;C;CZR;FOXA;TIME;GOOG;ACN;CRM11/6 09:39 EDT

    Citi expands Payer ID to 17 new markets


    Citi's Treasury and Trade Solutions has expanded its Citi Payer ID offering to 17 new markets across North America and Western Europe, making it now available in 44 countries. Designed as a best-in-class receivables reconciliation solution, Citi Payer ID allows institutional clients manage their working capital with greater efficiency by providing the following benefits: Increased visibility into incoming payments for effective payer reconciliation, reduced days sales outstanding, and improved order-to-cash cycle for increased working capital efficiencies and enhanced automation and cost savings, along with reduced exceptions.

    C11/6 09:02 EDT

    Prince Alwaleed arrest to reverberate across several companies, NY Times says


    With the Prince Alwaleed bin Talal, Saudi Arabia has touched one of the richest and most influential investors in the world, with sizable stakes in Twitter (TWTR), Lyft and Citigroup (C), according to The New York Times. His arrest will likely reverberate across dozens of companies around the world that count the investment company that he founded, Kingdom Holding, as a major investor, the publication added. [Reference Link]:Link

    TWTR;C11/5 18:05 EDT

    Citi sees $150M pretax gain from sale of Hilton credit card portfolio to AmEx


    In a regulatory filing, Citigroup (C) said that, in connection with its agreement to sell the Hilton (HLT) credit card portfolio to American Express (AXP), the existing partnership with Hilton Honors was extended through the closing date. The sale is expected to close in the first quarter of 2018 with a pretax gain of approximately $150M, which approximates one year of revenues from the portfolio.

    C;HLT;AXP10/31 18:09 EDT

    Citi plans to hire 20 bankers in return to Saudi Arabia, Bloomberg reports


    Citigroup is planning to hire roughly 20 bankers in Saudi Arabia and begin operations by year-end in the country after it secured an investment banking license for the region in April, Bloomberg reports, citing an interview with James Forese, president and head of institutional clients group. The bank, which is returning to the country after 13 years, expects to have around half of its investment banking team set up by December and a full staff established in 1Q18. [Reference Link]:Link

    C10/25 06:45 EDT

    Cooperman says owns 'some' Wells Fargo and Citi


    Leon Cooperman of Omega Advisors is speaking on CNBC.

    WFC;C10/24 12:53 EDT

    eSHOW to hold a conference


    Money 20/20 is being held in Las Vegas on October 22-25.

    JPM;C;CSCO;BLK;BX;B;BCS;AMZN;AKAM;CS;DFS;IBM;INTC;SSNLF;PAY;MA;SPLK;V;WFC;GOOG;MSFT;WMT;GS;FB;RY;T;JEF;ADBE;BAC;DB;C;CSCO;BLK;BX;B;BCS;AMZN;AKAM;CS;DFS;IBM;INTC;SSNLF;PAY;MA;SPLK;V;WFC;GOOG;MSFT;WMT;GS;FB;RY;T;JEF;ADBE;BAC;DB;C;CSCO;BLK;BX;B;BCS;AMZN;AKAM;CS;DFS;IBM;INTC;SSNLF;PAY;MA;SPLK;V;WFC;GOOG;MSFT;WMT;GS;FB;RY;T;JEF;ADBE;BAC;DB10/23 07:40 EDT

    Citigroup to hold a conference call


    Management discusses the 2017 Fixed Income Investor Review on a conference call to be held on October 26 at 11 am. [Webcast Link]:Link

    C10/20 16:20 EDT

    Futures Industry Association to hold an expo


    33rd Annual FIA Futures & Options Expo is being held in Chicago on October 17-19.

    UBS;CME;NDAQ;ICE;CBOE;BAC;GS;JPM;CS;C;AMZN;MS;WFC;AMTD;CME;NDAQ;ICE;CBOE;BAC;GS;JPM;CS;C;AMZN;MS;WFC;AMTD10/18 07:22 EDT

    Unusually active option classes on open October 17th


    Unusual total active option classes on open include: Gigamon (GIMO), Netflix (NFLX), SPDR Gold Trust (GLD), Qualcomm (QCOM), Goldman Sachs (GS), Boeing (BA), Citi (C), and iShares Silver Trust (SLV).

    GIMO;NFLX;GLD;QCOM;GS;BA;C;SLV10/17 09:40 EDT

    Futures Industry Association to hold an expo


    33rd Annual FIA Futures & Options Expo is being held in Chicago on October 17-19.

    UBS;CME;NDAQ;ICE;CBOE;BAC;GS;JPM;CS;C;AMZN;MS;WFC;AMTD;CME;NDAQ;ICE;CBOE;BAC;GS;JPM;CS;C;AMZN;MS;WFC;AMTD;CME;NDAQ;ICE;CBOE;BAC;GS;JPM;CS;C;AMZN;MS;WFC;AMTD;CME;NDAQ;ICE;CBOE;BAC;GS;JPM;CS;C;AMZN;MS;WFC;AMTD10/16 15:31 EDT

    Citi reports September credit loss 2.44% vs. 2.41% last month


    Reports September 30-plus day delinquency rate 1.5% vs. 1.43% last month.

    C10/16 14:06 EDT

    On The Fly: Top five analyst downgrades


    Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Citi (C) downgraded to Sell from Hold at Societe Generale with analyst Andrew Lim citing the bank's third quarter earnings report. 2. Deckers Brands (DECK) downgraded to Negative from Neutral at Susquehanna with analyst Sam Poser saying he believes its struggles will continue regardless of whether Marcato adds some of its people to the company's board. 3. Adobe (ADBE) downgraded to Hold from Buy at Deutsche Bank with analyst Nandan Amladi saying the valuation is "relatively full" with the shares up 50% year-to-date. 4. Ulta Beauty (ULTA) downgraded to Buy from Conviction Buy at Goldman Sachs with analyst Matthew Fassler saying recent data points, including a slowdown in Sephora U.S. sales and Bloomberg SpendTrend, suggest a more complicated path to recovery. 5. Bristol-Myers (BMY) downgraded to Hold from Buy at Jefferies with analyst Jeffrey Holford saying the shares, following the recent rally, have "significant downside risk" should lung cancer trial CheckMate-227 fail. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, [click here.]:Link

    C;DECK;ADBE;ULTA;BMY10/16 10:26 EDT

    Citi, FIS enable real-time payments for corporate treasury customers


    FIS (FIS) and Citi Treasury and Trade Solutions (C) announced that they are collaborating to enable real-time payments and cash management for their corporate treasury customers. Using the CitiConnect application programming interfaces, FIS has connected its Trax corporate payments factory to the suite of Citi Treasury and Trade Solutions -- enabling seamless integration with Citi's core treasury management functionality, including payment initiation, transaction status inquiry, and balance inquiry.

    C;FIS10/16 09:02 EDT

    Citi downgraded to Sell from Hold at Societe Generale


    Societe Generale analyst Andrew Lim downgraded Citi to Sell and cut his price target for the shares to $65 from $70 following the bank's Q3 earnings report.

    C10/16 06:15 EDT

    The Intersection: Crypto and Wall Street This Week


    As bitcoin, ethereum and other cryptocurrencies get increasing attention from investors, Wall Street and its traditional banks continue to adjust to the shift. Catch up on this week's top stories highlighting the intersection of these old guard and new school areas of finance with this recap compiled by The Fly: 1. JPM DIALS BACK: In its Thursday conference call regarding quarterly earnings, JPMorgan (JPM) dialed back on Chief Executive Officer Jamie Dimon's previous comments on cryptocurrency. "We are very open minded to the potential use cases in the future for digital currencies that are properly controlled and regulated," Chief Financial Officer Marianne Lake said, according to Bloomberg. "We're not going to not be part of that conversation. We'll have to see, it's quite nascent." She added the bank is "very optimistic" about the underlying technology of the cryptocurrency. Dimon added, "I wouldn't put this high in the category of important things in the world, but I'm not going to talk about bitcoin anymore." The comments come after his remarks criticizing bitcoin as a "fraud". The comments also follow Blockchain Capital co-founder Bart Stephens calling Dimon's remarks hypocritical and ignorant. "While Jamie Dimon was making those comments, I was an invited speaker at JP Morgan's offices in San Francisco to give a talk with other fund managers and clients of JP Morgan who are really curious about cryptocurrencies and the underlying blockchain technology," he said. Then, on Friday, Dimon said he could not care less about Bitcoin's trading price at the Insitute of International Finance conference, CNBC reports. "If you're stupid enough to buy it, you'll pay the price for it one day," he said, adding he does find the underlying technology valid. 2. CITI EXPLORES CRYPTO: In a Thursday earnings call, Citigroup (C) Chief Financial Officer John Gerspach said the company is reviewing cryptocurrencies and the blockchain technology that underlies them, according to Bloomberg. He said digital currencies are "worthy of exploration," adding, "We're more focused on the underlying technology, the blockchain, which we think has real potential to deliver commercial-oriented solutions." 3. REGULATION SPECULATION: Bitcoin rose to new highs amid speculation China could lift its ban on domestic exchanges, enabling trading to resume under a stricter regulatory environment, CNBC reported on Thursday, citing a Cryptocoinnews.com report. The new rules could include licensing and anti-money laundering regulations to impede the use of the cryptocurrency for illegal transactions. Meanwhile, Russian Central Bank First Deputy Governor Sergei Shvetsov said on Tuesday the country will block access to websites of cryptocurrency exchanges and Russian President Vladimir Putin reportedly said "buyers of cryptocurrencies could be involved in unlawful activities." 4. SHORT-SELLER GOES LONG: Short-seller Marc Cohodes started to buy shares of Overstock (OSTK) in May and in June added to the stake, which he described as "not small," Bloomberg reported on Tuesday. Cohodes, who believes the stock is "ridiculously cheap", said the company's online retail business is unvalued and its blockchain unit may bring in large stock gains. Cohodes cited the potential of Overstock's tZERO subsidiary, which is starting a digital coin exchange in compliance with SEC guidelines, saying tZERO's electronic blockchain market for securities lending could bolster transparency. "I know a thing or two about stock loan, and I think this product is tremendous," he said. "If this thing takes off, the company is going to sell at a whole lot more than a $700 million market cap. The stock will go apoplectic." 5. ROGOFF SEES BUBBLE BURSTING: Kenneth Rogoff, Harvard professor of economics and public policy, said in a Guardian op-ed on Monday he believes the technology behind bitcoin will thrive, but the price will collapse as governments move to regulate the cryptocurrency. "Most experts agree that the ingenious technology behind virtual currencies may have broad applications for cybersecurity, which currently poses one of the biggest challenges to the stability of the global financial system," he said. "But it is folly to think that bitcoin will ever be allowed to supplant central-bank-issued money. It is one thing for governments to allow small anonymous transactions with virtual currencies...But it is an entirely different matter for governments to allow large-scale anonymous payments, which would make it extremely difficult to collect taxes or counter criminal activity." He added the central banks are likely to create their own digital currency and use regulation to tilt the space in their favor. 6. OTHER BITCOIN PLAYS: Cryptocurrency revenues have been pointed to as reasons to be bullish on Advanced Micro Devices (AMD) and Nvidia (NVDA) in select research. PRICE ACTION: As of time of writing, Bitcoin rose about 31% this week, or $1,355, to $5,700 in U.S. dollars. Meanwhile, AMD shares were up 8% to $14.25 this week and Nvidia rose 7% on a weekly basis to $194.18. Bitcoin Investment Trust (GBTC) dropped nearly 1% this week to $699.44. WANT BITCOIN NEWS ALERTS?: To receive alerts on stories relating to bitcoin and other cryptocurrencies, Fly subscribers can enter "Bitcoin" into the "Add symbols" box of their portfolios.

    JPM;C;OSTK;AMD;NVDA;GBTC;BITCOIN10/13 14:08 EDT

    Unusually active option classes on open October 13th


    Unusual total active option classes on open include: Cliffs Natural (CLF), Teck Resources (TECK), Transocean (RIG), Wells Fargo (WFC), US Steel (X), Citi (C), Financial Sector SPDR (XLF), Equifax (EFX), Bank of America (BAC), and AT&T (T).

    CLF;TECK;RIG;WFC;X;C;XLF;EFX;BAC;T10/13 09:40 EDT

    Notable open interest changes for October 13th


    Thursday's total option volume of 15.1 million contracts resulted in net open interest growth of 2.20 million calls and 2.82 million puts. AT&T (T), General Electric (GE), Bank of America (BAC) and Citi (C) saw the greatest growth. Top five new positions opened include 30k General Electric (GE) Nov-17 22 puts, 30k Comcast (CMCSA) Jan-18 40 calls, 30k Express Scripts (ESRX) Jan-18 52.5 puts, 17k AMC Entertainment (AMC) Nov-17 13 puts and 16k Abbott (ABT) Jan-18 28 calls.

    T;GE;BAC;C10/13 08:55 EDT

    Standard Chartered chairman urges U.S. to preserve OLA, Reuters reports


    Standard Chartered chairman Jose Vinals has urged U.S. policymakers to support the preservation of the "orderly liquidation authority", which are special bank liquidation powers implemented after the global financial crisis to enable regulators to wind down failing lenders instead of putting them through traditional bankruptcy, Reuters reports, citing Vinals. The bankers' comments come as the Treasury is expected to release a review of the policy, which was ordered by President Trump in April. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). [Reference Link]:Link

    MS;WFC;JPM;USB;C;GS;BAC10/13 08:34 EDT

    Citi decline on earnings due to soft credit card guidance, says Credit Suisse


    Credit Suisse analyst Susan Katzke says yesterday's 3.4% slide in Citigroup stock price in spite of the earnings beat is likely due to its credit card guidance. Katzke says that even if Citi's North American card results fall 25% short of her forecast, it would result in a "manageable" 2% hit to EPS, maintaining her Outperform rating and $83 price target.

    C10/13 08:33 EDT

    Citi, Deutsche Bank, HSBC to settle Libor claims for $132M, Reuters reports


    Citi (C), HSBC (HSBC) and Deutsche Bank (DB) will pay a combined $132M to settle a lawsuit brought by futures traders accusing them of manipulating Libor, Reuters reports, citing a U.S. court filing. According to the filing in Manhattan federal court, Citi will pay $33.4M, HSBC will pay $18.5M and Deutsche Bank will pay $80M. [Reference Link]:Link

    C;DB;HSBC10/13 06:20 EDT

    On The Fly: Top stock stories for Thursday


    Stocks opened little changed and remained that way for most of the session. The averages moved in a fairly narrow range before dipping late in the session as investors await the next catalyst to bring them off the sidelines. The catalyst may come next week when the earnings season kicks off in earnest. For now, investors appear content to sit on the sidelines. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 15,000 to 243,000 first-time claims in the week of October 7. The headline Producer Price Index climbed 0.4% in September, with the core up 0.4% as well. The advance in the overall PPI reading was in line with expectations, though the core reading was a bit hotter than forecast. COMPANY NEWS: JPMorgan (JPM) shares fell nearly 1% after the bank's third quarter profit topped expectations, boosted by strong deposit and loan growth that offset its weaker trading results. Meanwhile, shares of peer Citi (C) fell by over 3% even though the bank also posted better than expected revenue and earnings for the third quarter. Both stocks, and the bank group in general, have been strong recently heading into the earnings season... Meanwhile, Equifax (EFX) shares slipped 1.5% after Reuters reported that Equifax said it had taken one of its customer help web pages offline as its security looks into reports of another potential cyber attack at the company. Ars Technica had reported earlier that the company's website was hacked with a redirect to fake Adobe Flash updates... Separately, shares of AT&T (T) were down 6% after the company said in a regulatory filing last night that recent hurricanes as well as earthquakes in Mexico significantly impacted certain regions of its service area during the third quarter. The carrier said that damage to its network and other property, as well as revenue declines from waived charges, will decrease its reported third quarter consolidated revenues by nearly $90M and its reported pre-tax earnings by roughly $210M, or 2c per share. The company also reaffirmed its fiscal 2017 outlook for mid-single digit adjusted earnings growth. MAJOR MOVERS: Among the notable gainers was Glu Mobile (GLUU), which rose nearly 10% after Benchmark analyst Mike Hickey upgraded the stock to Buy and set a $6 target on the shares, saying he believes a turnaround is taking shape and that he is "cautiously optimistic" on the upcoming launch of a social platform from Taylor Swift. Also higher was Veeva (VEEV), which gained over 3.5% after holding an analyst and investor day yesterday. J.Jill (JILL) was among the noteworthy losers, seeing its stock price get cut roughly in half following yesterday's Q3 guidance reduction by the company. Also lower was MercadoLibre (MELI), which dropped 10% after Brazilian newspaper Valor Economico reported Amazon (AMZN) may make its long-awaited launch into the Brazilian e-commerce market within the week. INDEXES: The Dow fell 31.88, or 0.14%, to 22,841.01, the Nasdaq lost 12.04, or 0.18%, to 6,591.51, and the S&P 500 declined 4.31, or 0.17%, to 2,550.93.

    JPM;C;EFX;T;GLUU;VEEV;JILL;MELI;AMZN10/12 16:27 EDT

    On The Fly: What to watch in bank space earnings reports


    Bank of America (BAC) is scheduled to report quarterly results on October 13, while Morgan Stanley (MS) and Goldman Sachs (GS) are scheduled to report on October 17. What to watch for: 1. OUTLOOK: During the company's last earnings call, Bank of America said it expects net interest income to increase in Q3. The bank also said its asset quality "remains strong," that it is "positioned to benefit from higher interest rates," and is making "progress towards financial targets, while increasing capital return to shareholders." Additionally, Bank of America CFO Paul Donofrio noted that the bank expects to issue less debt in the second half of 2017. Last month, the bank said Q3 trading revenue will "probably decline 15%," but that it sees Q3 loan and deposit growth, and returning over 100% of profit to shareholders. Meanwhile, Goldman Sachs said that it sees $5B in revenue growth opportunities over the next three years, and over $2.5B in pre-tax earnings opportunities and 150bps ROE expansion opportunities in the same period. 2. RETURN POTENTIAL: On August 9, Wells Fargo analyst Mike Mayo resumed coverage of Goldman Sachs with an Outperform rating and $265 price target. The analyst told investors that he prefers Goldman over Morgan Stanley, arguing that it has about "twice as fast" organic revenue growth for more than 20 years, and "much faster" earnings growth over 15 years. A month later, Ben Levisohn wrote in an edition of Barron's, that while Goldman Sachs is rarely thought of as an underdog, it might be right now. Goldman's decline is a result of its own missteps, Levisohn noted, adding that if it can correct its problems, its stock may be able to close the performance gap with its peers. Last week, Credit Suisse analyst Susan Roth Katzke upgraded Morgan Stanley to Outperform from Neutral given the over 10% total return potential in the shares. The analyst also raised her price target on the shares to $54 from $49. 3. STOCK RECOVERY: Less bullish, UBS analyst Brennan Hawken downgraded Goldman Sachs to Neutral back in July, saying the market seems to be pricing in an inflection in its trading revenue despite weakness, suggesting a recovery is needed to justify 2018 consensus estimates. The analyst told investors at the time that he sees better opportunities for investors, such as Morgan Stanley, given his "limited confidence" in a revenue recovery. Meanwhile, last week, Credit Suisse analyst Susan Roth Katzke also downgraded Goldman Sachs to Neutral from Outperform, citing the recovery in the shares and the now more limited total return to her target price, which she raised to $255 from $240. 4. REGULATORY-RELIEF ACTIONS: While a major overhaul is unlikely, recent proposals by the Treasury Department to ease the regulatory burden on banks and support greater lending may lead to some changes, Andrew Bary wrote in a July edition of Barron's. Big banks, such as Morgan Stanley, JPMorgan (JPM), Goldman Sachs, Citigroup (C), State Street (STT), and BNY Mellon (BK), could get a cumulative earnings boost averaging 30% if a series of regulatory-relief actions take place, the report noted, citing a report issued by KBW analysts Brian Kleinhanzl and Michael Brown.

    BAC;MS;GS;JPM;C;STT;BK10/12 15:45 EDT

    On The Fly: Top stock stories at midday


    Stocks are little changed near midday, improved from their early lows despite some continuing weakness from the two big banks that kicked off the earnings season - Citigroup (C) and JPMorgan (JPM). ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 15,000 to 243,000 first-time claims in the week of October 7. The headline Producer Price Index climbed 0.4% in September, with the core up 0.4% as well. The advance in the overall PPI reading was in line with expectations, though the core reading was a bit hotter than forecast. COMPANY NEWS: JPMorgan shares are down about 1% after the bank's third quarter profit topped expectations, boosted by strong deposit and loan growth that offset its weaker trading results. Of note, JPMorgan Chase, which was already the largest U.S. bank by assets, is now also the largest U.S. bank by deposits, overtaking Bank of America (BAC), according to the Charlotte Observer. Meanwhile, shares of peer Citi are down 2% although the bank also posted better than expected revenue and earnings for the third quarter. MAJOR MOVERS: Among the notable gainers was Glu Mobile (GLUU), which rose over 11% after Benchmark analyst Mike Hickey upgraded the stock to Buy and set a $6 target on the shares, saying he believes a turnaround is taking shape and that he is "cautiously optimistic" on the upcoming launch of "The Swift Life," a social platform from Taylor Swift. Also higher was Veeva (VEEV), which is advancing 4% after holding an analyst and investor day yesterday. J.Jill (JILL) was among the noteworthy losers, seeing its stock price get cut roughly in half following yesterday's Q3 guidance reduction by the company. Also lower was MercadoLibre (MELI), which is dropping 10% after Brazilian newspaper Valor Economico reported Amazon (AMZN) may make its long-awaited launch into the Brazilian e-commerce market within the week. INDEXES: Near midday, the Dow was up 1.06 to 22,873.95, the Nasdaq was up 6.15, or 0.09%, to 6,609.70, and the S&P 500 was down 0.95, or 0.04%, to 2,554.29.

    JPM;C;JILL;MELI;AMZN;GLUU;VEEV10/12 12:28 EDT

    Citi says cards 'not the only engine for growth that we have'


    Citi is down 1.4% to $73.90 in late morning trading.

    C10/12 11:17 EDT

    Citi says acquiring customers made more difficult after Equifax breach

    C;EFX10/12 11:12 EDT

    Citi on Equifax breach: Data breaches 'aren't new'


    Citi (C) says it does use Equifax (EFX) services and while the recent data breach was of a significant magnitude, breaches "aren't new."

    C;EFX10/12 11:10 EDT

    Citi says health of consumer 'pretty good' right now

    C10/12 11:04 EDT

    Citi sees medium-term retail services NCL rate up 5.1%-5.25%

    C10/12 10:36 EDT

    Citi sees Q4 loss reserve build for U.S. branded cards back to normal levels

    C10/12 10:35 EDT

    Citi: Q4 markets revenue likely to reflect normal seasonal decline from Q3


    Sees continued modest y/y revenue growth and positive operating leverage in NA, international consumer in Q4. In Institutional, expects continued y/y revenue growth in accrual businesses in Q4. Says Q4 markets revenues likely to reflect normal seasonal decline from Q3. Sees IB revenues similar to Q3. Says on track to achieve efficiency ratio of 58% for FY.

    C10/12 10:23 EDT

    Citi CFO says retail services NCL rates may reach 500bps in 2018

    C10/12 10:15 EDT

    Citi CEO says geopolitical tensions may begin to weigh on growth

    C10/12 10:09 EDT

    Citi CEO says likes direction administration going on tax reform regulation


    CEO Michael Corbat says trading activity in Q3 was better than anticipated earlier in the quarter. Says macro environment "largely positive," growth remains consistent, not seeing too many economies in distress. Says tax reform remains a "question mark" but likes the direction the administration is going. Comments taken from the Q3 earnings conference call.

    C10/12 10:06 EDT

    On The Fly: Pre-market Movers


    UP AFTER EARNINGS: HIGHER: JPMorgan Chase (JPM), up 1%... Citigroup (C), up marginally. ALSO HIGHER: Anavex Life Sciences (AVXL), up 9.5% after Anavex2-73 demonstrates "desirable" PK/PD properties in Phase 2a study... Ardelyx (ARDX), up 43.4% after its tenapanor study hit its primary and secondary endpoints... Infinity (INFI), up 43.5% after being upgraded to Outperform from Market Perform at Wells Fargo. LOWER: AcelRx Pharmaceuticals (ACRX), down 61% after receiving a Complete Response Letter from the FDA for DSUVIA New Drug Application... Domino's (DPZ), down 5.3% after reporting quarterly results... Hawaiian Holdings (HA), down 4.8% after initiating a quarterly dividend of 12c per share.

    JPM;C;AVXL;ARDX;INFI;ACRX;DPZ;HA10/12 09:11 EDT

    Notable open interest changes for October 12th


    Wednesday's total option volume of 13.2 million contracts resulted in net open interest growth of 2.15 million calls and 2.56 million puts. General Electric (GE), Micron (MU), Microsoft (MSFT) and Citi (C) saw the greatest growth. Top five new positions opened include 31k Kroger (KR) Apr-18 21 puts, 21k Bank of America (BAC) 10/13 weekly 26 calls, 20k Energy Transfer Equity (ETE) Jun-18 20 calls, 20k Energy Transfer Equity (ETE) Jun-18 30 calls and 19k Microsoft (MSFT) 11/3 weekly 79 calls.

    GE;MU;MSFT;C10/12 08:55 EDT

    Citi on track to increase return on capital, return of capital over time


    Says on track to increase both return on capital, return of capital over time. Says making progress on driving Common Equity Tier 1 Capital ratio towards 11.5% target. Comments from slides that will be presented on the Q3 earnings conference call.

    C10/12 08:36 EDT

    Citi reports Q3 Global Consumer Banking revenue $8.43B


    Reports Q3 Institutional Clients Group revenue $9.23B. Reports Q3 Corporate/Other revenue $509M. Reports Q3 Fixed Income Markets revenue $2.88B.

    C10/12 08:02 EDT

    Citi reports Q3 ROTCE ex. DTA 9.9%, CET1 capital ratio 13%


    Reports Q3 SLR 7.1%.

    C10/12 08:01 EDT

    Citi reports Q3 efficiency ratio 56%, ROE 7.3%


    Citigroup revenues of $18.2 billion in the third quarter 2017 increased 2%, driven by the gain on sale as well as 3% aggregate growth in ICG and GCB, partially offset by a 55% decrease in Corporate / Other primarily due to the continued wind-down of legacy assets. Citigroup's allowance for loan losses was $12.4 billion at quarter end, or 1.91% of total loans, compared to $12.4 billion, or 1.97% of total loans, at the end of the prior year period. Total non-accrual assets declined 19% from the prior year period to $5.0 billion. Consumer non-accrual loans declined 22% to $2.8 billion and corporate non-accrual loans decreased 15% to $2.1 billion. Citigroup's book value per share was $78.81 and tangible book value per share was $68.55, each at quarter end, both representing a 6% increase. At quarter end, Citigroup's Common Equity Tier 1 Capital ratio was 13.0%, up from 12.6% in the prior year period, driven primarily by earnings partially offset by the return of capital to common shareholders. Citigroup's Supplementary Leverage Ratio for the third quarter 2017 was 7.1%, down from 7.4% in the prior year period, driven by an increase in Total Leverage Exposure as well as a decrease in Tier 1 Capital. During the third quarter 2017, Citigroup repurchased approximately 81 million common shares and returned a total of approximately $6.4 billion to common shareholders in the form of common share repurchases and dividends. Citigroup's cost of credit in the third quarter 2017 was $2.0 billion, a 15% increase, driven by an increase in net credit losses of $252 million, primarily in North America GCB, as well as a higher loan loss reserve build, which included approximately $100 million of hurricane and earthquake-related loan loss reserve builds across North America GCB and Latin America GCB, as well as the legacy portfolio in Corporate / Other.

    C10/12 08:00 EDT

Data At A Glance (Annual)


  TTM 2017201620152014
Revenue (Millions) $71,206$54,194$69,875$76,354$76,882
Cost of Revenue Expense (Millions) -$0-$0-$0-$0-$0
Current Assets (Millions) -$0-$0-$0-$0-$0
Current Debt (Millions) $38,149$38,149$30,701$21,079$58,335
Current Liabilities (Millions) -$0-$0-$0-$0-$0
Deferred Taxes (Millions) -$0-$0-$0-$0-$0
EBITDA (Millions) -$0-$0-$0-$0-$0
Financing Cash Flow (Millions) $54,284$71,937$28,292-$64,773-$70,270
Free Cash Flow (Millions) $19,127-$5,807$51,176$36,539$42,048
Goodwill (Millions) $22,345$22,345$21,659$22,349$23,592
Gross Profit (Millions) -$0-$0-$0-$0-$0
Interest Expense (Millions) $15,258$11,981$12,511$11,921$13,690
Investing Cash Flow (Millions) -$77,642-$69,670-$79,588$14,883$29,491
Net Income (Millions) $15,668$12,095$14,912$17,242$7,313
Net Interest Income (Millions) -$0-$0-$0-$0-$0
Operating Income (Millions) $22,762$17,662$21,477$24,826$14,364
Research & Development (Millions) -$0-$0-$0-$0-$0
Selling, General & Administrative Expense (Millions) $29,704$22,631$29,287$30,094$32,239
Share Count (Millions) 2,6442,6442,7722,9533,024
Total Assets (Millions) $1,889,133$1,889,133$1,792,080$1,731,210$1,842,530
Total Debt (Millions) $270,822$270,822$236,879$222,354$281,415
Total Equity (Millions) $227,634$227,634$225,120$221,857$210,534
Total Liabilities (Millions) $1,661,499$1,661,499$1,566,960$1,509,350$1,632,000
North America Home Equity EOP Loans (Millions) $11$11$15$19$25
North America Home Equity Mortgages (Millions) $11$11$16$21$25
North America Home Equity Net Credit Losses (Millions) $8$8$25$56$87
North America Institutional Clients Group Income (Millions) $4,449$4,449$3,587$3,304$3,901
North America Mortgages Net Interest Revenue (Millions) $318$318$700$1,075$616
North America Net Servicing & Gain/(loss) on Sale Income (Millions) $229,500$229,500$433,200$565,900$649,600
North America Residential First EOP Loans (Millions) $9$9$13$19$34
North America Residential First Mortgages (Millions) $9$9$14$26$37
North America Residential First Net Credit Losses (Millions) -$1-$1-$23$65$117
North America Third Party Mortgage Serv. Portfolio (Millions) $12$12$18$34$47
Asia Citi-Branded Cards EOP Loans (Millions) $19,800$19,800$17,500$17,600$18,600
Asia Citi-Branded Cards EOP Open Accounts (Millions) $16$16$16$17$17
Asia Citi-Branded Cards Net Credit losses Income (Millions) $404$404$390$401$469
Asia Citi-Branded Cards Net Interest Revenue (Millions) $1,985$1,985$1,824$1,838$1,954
Asia Citi-Branded Cards Purchase Sales Revenue (Millions) $81,500$81,500$74,900$75,400$79,800
Asia Consumer Banking Credit Reserve Build/ (Release) Expense (Millions) -$29-$29-$28-$75-$57
Asia Consumer Banking Net Income (Millions) $1,260$1,260$1,079$1,196$1,255
Asia Consumer Banking Net Credit Expense (Millions) $649$649$651$719$788
Asia Consumer Banking Net Interest Revenue (Millions) $4,668$4,668$4,463$4,526$4,811
Asia Consumer Banking Non-interest Bearing Sources Revenue (Millions) $2,615$2,615$2,375$2,525$2,896
Asia Consumer Banking Operating Expense (Millions) $4,763$4,763$4,586$4,603$5,101
Asia Consumer Banking Provision for Unfunded Lending Commitments Expense (Millions) -$5-$5-$4-$3-$15
Asia Consumer Banking Total Revenue (Millions) $7,283$7,283$6,838$7,051$7,707
Asia Consumer Citi-Branded Cards Revenue (Millions) $2,852$2,852$2,590$2,601$2,976
Asia Consumer Citi-Branded Cards Income (Millions) $452$452$404$459$559
Asia Consumer Citi-Branded Cards Credit Expense (Millions) $808$808$679$742$706
Asia Consumer Retail Banking Revenue (Millions) $4,431$4,431$4,248$4,450$4,731
Asia Consumer Retail Banking Income (Millions) $452$452$404$459$559
Asia Consumer Retail Banking Credit Expense (Millions) $245$245$261$318$319
Asia Consumer Retail Banking EOP Personal and Other Loans (Millions) $19,900$19,900$17,200$19,200$19,000
Asia Consumer Retail Banking Total EOP Loans (Millions) $70,000$70,000$63,000$68,400$76,200
Asia Institutional Clients Group Revenue (Millions) $7,123$7,123$6,927$7,241$7,137
Asia Institutional Clients Group Income (Millions) $2,300$2,300$2,248$2,386$2,287
Asia Retail Banking Accounts (Millions) 1616171818
Asia Retail Banking Branches 278278401513536
Asia Retail Banking EOP Commercial Banking Loans (Millions) $16,800$16,800$14,500$14,800$19,200
Asia Retail Banking EOP Mortgage Loans (Millions) $33,300$33,300$31,300$34,400$38,000
Asia Retail Banking Investment AUMs (Millions) $68,500$68,500$55,800$57,000$58,300
Asia Retail Banking Investment Sales (Millions) $10,700$10,700$7,300$6,000$7,900
Asia Retail Banking Net Credit Losses Income (Millions) $245$245$261$318$319
Asia Retail Banking Net Interest Revenue (Millions) $2,682$2,682$2,640$2,688$2,857
Consolidated Administrative and Other Fidicuary Fees Expense (Millions) $3,079$3,079$3,227$3,648$1,975
Consolidated Advertising and Marketing Expense (Millions) $1,608$1,608$1,632$1,547$926
Consolidated Commissions and Fees Revenue (Millions) $12,939$12,939$10,829$11,848$6,407
Consolidated Compensation and Benefits Expense (Millions) $21,180$21,180$20,970$21,769$11,921
Consolidated Insurance Premiums Revenue (Millions) $662$491$836$1,845$1,027
Consolidated Interest Revenue (Millions) $61,204$61,204$57,615$58,551$30,772
Consolidated Interest Expense (Millions) $16,517$16,517$12,511$11,921$6,484
Consolidated Losses on Investments and Other Assets Revenue (Millions) -$63-$63-$620-$265-$186
Consolidated Other Revenue (Millions) $861$861$2,137$5,958$1,752
Consolidated Other Operating Expense (Millions) $9,104$9,104$9,587$10,840$9,693
Consolidated Premises and Equipment Expense (Millions) $2,453$2,453$2,542$2,878$1,554
Consolidated Principal Transactions Revenue (Millions) $9,168$9,168$7,585$6,008$1,967
Consolidated Realized Gains (losses) on Investments Revenue (Millions) $778$778$948$682$358
Consolidated Technology/Communication Expense (Millions) $6,891$6,891$6,685$6,581$3,287
Consolidated Total operating Expense (Millions) $41,237$41,237$41,416$43,615$27,381
Corporate/Other Consumer-International Branches 494961293153
Corporate/Other Consumer-International EOP Loans (Millions) $1,600$1,600$2,400$8,200$8,000
Corporate/Other Consumer-International Net Credit Losses Income (Millions) $82$82$269$307$92
Corporate/Other Consumer-International Net Interest Revenue (Millions) $293$293$868$1,171$441
Corporate/Other Consumer-North America Branches -0-02512721,424
Corporate/Other Consumer-North America EOP Loans (Millions) $21,200$21,200$30,800$40,500$70,800
Corporate/Other Consumer-North America Net Credit Losses Income (Millions) $74$74$169$863$728
Corporate/Other Consumer-North America Net Interest Revenue (Millions) $656$656$1,064$2,886$1,720
Corporate/Other Credit Reserve Build/ (Release) Expense (Millions) -$317-$317-$456-$503-$349
Corporate/Other Net Income (Millions) -$21,847-$21,847$498$1,047$296
Corporate/Other Net Credit Losses Expense (Millions) $149$149$435$1,066$822
Corporate/Other Net Interest Revenue (Millions) $1,963$1,963$2,985$3,704$2,178
Corporate/Other Non-interest Revenue (Millions) $1,122$1,122$2,144$4,133$1,696
Corporate/Other Provision for Benefits and Claims Expense (Millions) -$7-$7$98$624$334
Corporate/Other Provision for Unfunded Lending Commitments Expense (Millions) -$0-$0-$8-$26-$3
Corporate/Other Total Revenue (Millions) $3,085$3,085$5,129$7,837$3,874
Corporate/Other Total Operating Expense (Millions) $3,786$3,786$4,977$4,615$2,649
EMEA Institutional Clients Group Revenue (Millions) $10,692$10,692$9,933$9,667$9,787
EMEA Institutional Clients Group Income (Millions) $2,804$2,804$2,415$2,166$2,204
Global Consumer Banking Accounts (Millions) 5353555660
Global Consumer Banking Cards Revenue (Millions) $19,319$19,319$18,659$18,856$20,990
Global Consumer Banking Cards Income (Millions) $2,865$2,865$3,427$4,392$5,112
Global Consumer Banking Cards Expense (Millions) $5,539$5,539$4,603$4,738$5,561
Global Consumer Banking Cards: EOP Loans (Millions) $164,900$164,900$155,600$136,300$141,900
Global Consumer Banking Cards: EOP Open Accounts (Millions) 143143143136137
Global Consumer Banking Cards: Net Interest Revenue (Millions) $18,033$18,033$17,444$17,365$18,481
Global Consumer Banking Cards: Purchase Sales Revenue (Millions) $498,700$498,700$420,700$359,300$367,800
Global Consumer Banking Credit Reserve Build/ (Release) Expense (Millions) $965$965$709-$363-$1,169
Global Consumer Banking EOP Loans (Millions) $145,900$145,900$136,300$140,700$149,200
Global Consumer Banking EOP Loans: Commercial Banking (Millions) $36,300$36,300$32,000$31,800$39,100
Global Consumer Banking EOP Loans: Mortgages (Millions) $81,700$81,700$79,400$80,200$79,700
Global Consumer Banking EOP Loans: Personal and Other (Millions) $27,900$27,900$24,900$28,700$30,400
Global Consumer Banking Investment Assets under Management (Millions) $160,900$160,900$137,500$152,600$163,300
Global Consumer Banking Investment Sales Income (Millions) $92,100$92,100$73,400$90,400$107,500
Global Consumer Banking Net Income (Millions) $4,634$4,634$5,022$6,399$6,868
Global Consumer Banking Net Credit Losses Expense (Millions) $6,562$6,562$5,608$5,889$6,957
Global Consumer Banking Net Interest Revenue (Millions) $27,187$27,187$26,135$26,459$28,428
Global Consumer Banking Non-Interest Revenue (Millions) $5,510$5,510$5,499$6,761$8,475
Global Consumer Banking Operating Expense (Millions) $17,843$17,843$17,496$17,747$20,611
Global Consumer Banking Provision for Benefits and Claims Expense (Millions) $116$116$106$107$169
Global Consumer Banking Provision for Unfunded Lending Commitments Expense (Millions) -$2-$2$4$5-$23
Global Consumer Banking Retail Banking Revenue (Millions) $13,378$13,378$12,975$14,344$15,913
Global Consumer Banking Retail Banking Income (Millions) $1,778$1,778$1,602$2,016$1,802
Global Consumer Banking Retail Banking Expense (Millions) $1,023$1,023$1,005$1,151$1,396
Global Consumer Banking Retail Banking: Net Interest Revenue (Millions) $9,136$9,136$8,691$9,094$9,947
Global Consumer Banking Total Branches 2,4512,4512,6182,7853,129
Global Consumer Banking-Latin America Citi-Branded Cards EOP loans (Millions) $5,400$5,400$4,800$5,400$9,300
Institutional Clients Group Total Non-Interest Revenue (Millions) $20,130$20,130$17,127$17,604$17,456
Institutional Clients Group Administration and Other Fiduciary Fees Revenue (Millions) $2,523$2,523$2,400$2,433$2,549
Institutional Clients Group All Other ICG Businesses EOP Deposits (Millions) $208,000$208,000$200,000$196,000$175,000
Institutional Clients Group Asia EOP Deposits (Millions) $145,000$145,000$140,000$154,000$142,000
Institutional Clients Group Commissions and Fees Revenue (Millions) $4,314$4,314$3,895$3,865$4,188
Institutional Clients Group Corporate Lending-Excluding Gain/(loss) on Loan Hedges Revenue (Millions) $1,922$1,922$1,731$1,755$1,746
Institutional Clients Group Credit Reserve Build/ (Release) Expense (Millions) -$221-$221-$64$633-$90
Institutional Clients Group EMEA EOP Deposits (Millions) $677,000$677,000$694,000$688,000$714,000
Institutional Clients Group Equity Markets Revenue (Millions) $2,747$2,747$2,833$3,131$2,775
Institutional Clients Group Equity Markets Commissions and Fees Equity (Millions) $1,234$1,234$1,300----
Institutional Clients Group Equity Markets Net Interest Revenue (Millions) $1,127$1,127$1,239----
Institutional Clients Group Equity Markets Total Non-Interest Revenue (Millions) $1,620$1,620$1,573----
Institutional Clients Group Fixed Income Commission and Fees Income (Millions) $625$625$474----
Institutional Clients Group Fixed Income Markets Revenue (Millions) $12,127$12,127$12,923$11,332$11,985
Institutional Clients Group Fixed Income Net Interest Revenue (Millions) $4,086$4,086$5,250----
Institutional Clients Group Fixed Income Principal Transactions Income (Millions) $6,826$6,826$6,538----
Institutional Clients Group Fixed Income Rates and Currencies Income (Millions) $8,783$8,783$9,289----
Institutional Clients Group Fixed Income Spread Products/Other Fixed Income (Millions) $3,344$3,344$3,564----
Institutional Clients Group Fixed Income Total Non-Interest Revenue (Millions) $8,041$8,041$7,603----
Institutional Clients Group Fixed other Income (Millions) $590$590$591----
Institutional Clients Group Investment Banking Revenue (Millions) $4,404$4,404$3,655$4,110$4,269
Institutional Clients Group Investment Banking Advisory Revenue (Millions) $1,108$1,108$1,000$1,097$949
Institutional Clients Group Investment Banking Debt Underwriting Revenue (Millions) $3,011$3,011$2,678$2,553$2,510
Institutional Clients Group Investment Banking Equity Underwriting Revenue (Millions) $1,053$1,053$628$906$1,246
Institutional Clients Group Latin America EOP Deposits (Millions) $106,000$106,000$184,000$250,000$248,000
Institutional Clients Group Net Income (Millions) $11,009$11,009$9,657$9,442$9,429
Institutional Clients Group Net Credit Losses Income (Millions) $365$365$516$214$276
Institutional Clients Group Net Interest Revenue (Millions) $15,537$15,537$16,398$16,230$15,737
Institutional Clients Group North America EOP Deposits (Millions) $1,153$1,153$962$793$737
Institutional Clients Group Operating Expense (Millions) $19,608$19,608$18,950$19,033$19,675
Institutional Clients Group Other Revenue (Millions) $1,149$1,149-$155$1,373$542
Institutional Clients Group Other Equity (Millions) $4$4$139----
Institutional Clients Group Other Market and Securities Revenue (Millions) -$58-$58-$658-$252-$471
Institutional Clients Group Principal Transactions Revenue (Millions) $7,740$7,740$7,332$5,823$5,908
Institutional Clients Group Principal Transactions Equity (Millions) $382$382$134----
Institutional Clients Group Private Bank Revenue (Millions) $3,088$3,088$2,835$2,860$2,656
Institutional Clients Group Provision for Unfunded Lending Commitments Expense (Millions) -$159-$159$34$95-$129
Institutional Clients Group Securities Services Revenue (Millions) $2,329$2,329$2,155$2,130$2,201
Institutional Clients Group Total Revenue (Millions) $35,667$35,667$33,525$33,874$33,193
Institutional Clients Group Total Banking Revenue (Millions) $18,655$18,655$16,866$16,940$16,930
Institutional Clients Group Total Fixed Markets Income (Millions) $12,127$12,127$12,923$11,332$11,985
Institutional Clients Group Total Investment Banking Revenue (Millions) $5,172$5,172$4,306$4,556$4,705
Institutional Clients Group Total Markets and Securities Services Revenue (Millions) $17,145$17,145$17,253$16,341$16,490
Institutional Clients Group Treasury and Trade Solutions Revenue (Millions) $8,473$8,473$7,994$7,778$7,823
Institutional Clients Group Treasury and Trade Solutions EOP Deposits (Millions) $432,000$432,000$412,000$392,000$380,000
Latin America Consumer Banking Citi-Branded Cards Revenue (Millions) $1,462$1,462$1,475$2,035$2,997
Latin America Consumer Banking Citi-Branded Cards Income (Millions) $180$180$279$337$459
Latin America Consumer Banking Citi-Branded Cards Credit Expense (Millions) $533$533$499$736$1,008
Latin America Consumer Banking Credit Reserve Build/ (Release) Expense (Millions) $125$125$83$51$127
Latin America Consumer Banking Net Income (Millions) $590$590$652$924$1,196
Latin America Consumer Banking Net Credit Losses Expense (Millions) $1,117$1,117$1,040$1,417$1,933
Latin America Consumer Banking Net Interest Revenue (Millions) $3,638$3,638$3,451$4,387$5,952
Latin America Consumer Banking Non-Interest Revenue (Millions) $1,514$1,514$1,495$2,202$2,881
Latin America Consumer Banking Operating Expense (Millions) $2,920$2,920$2,841$3,861$5,191
Latin America Consumer Banking Provision for Benefits and Claims Expense (Millions) $83$83$72$69$129
Latin America Consumer Banking Provision Lending Commitments Expense (Millions) -$1-$1$1$1-$1
Latin America Consumer Banking Total Revenue (Millions) $5,152$5,152$4,946$6,589$8,833
Latin America Consumer Citi-Branded Cards EOP Open Accounts (Millions) 66668
Latin America Consumer Citi-Branded Cards Net Credit Expense (Millions) $533$533$499$736$1,008
Latin America Consumer Citi-Branded Cards Net Interest Revenue (Millions) $1,026$1,026$1,054$1,495$2,240
Latin America Consumer Citi-Branded Cards Purchase Sales (Millions) $4,500$4,500$4,000$4,400$7,600
Latin America Consumer Retail Banking Revenue (Millions) $3,690$3,690$3,471$4,554$5,836
Latin America Consumer Retail Banking Income (Millions) $410$410$375$590$743
Latin America Consumer Retail Banking Accounts (Millions) 2828282831
Latin America Consumer Retail Banking Branches 1,4791,4791,4941,4921,744
Latin America Consumer Retail Banking Credit Expense (Millions) $584$584$541$681$825
Latin America Consumer Retail Banking EOP Loans Mortgages (Millions) $10,000$10,000$8,500$9,200$11,300
Latin America Consumer Retail Banking Investment AUMs (Millions) $32,100$32,100$28,900$46,700$68,800
Latin America Consumer Retail Banking Investment Sales Income (Millions) $24,400$24,400$23,100$15,400$51,800
Latin America Consumer Retail Banking Net Credit Expense (Millions) $584$584$541$681$925
Latin America Consumer Retail Banking Net Interest Revenue (Millions) $2,612$2,612$2,397$2,892$3,712
Latin America Consumer Retail Banking Personal and Other EOP Loans (Millions) $5,800$5,800$5,600$7,000$9,900
Latin America Consumer Retail Banking Total EOP Loans (Millions) $19,900$19,900$18,000$20,100$26,200
Latin America Institutional Clients Group Revenue (Millions) $4,216$4,216$4,001$4,201$4,282
Latin America Institutional Clients Group Income (Millions) $1,513$1,513$1,465$1,466$1,366
North America Citi Retail Services EOP Loans (Millions) $49,200$49,200$47,300$46,100$46,500
North America Citi Retail Services EOP Open Accounts 8686889088
North America Citi Retail Services Net Credit Expense (Millions) $2,155$2,155$1,805$1,709$1,866
North America Citi Retail Services Net Interest Revenue (Millions) $7,745$7,745$7,612$7,592$7,436
North America Citi Retail Services Purchase Sales Revenue (Millions) $81$58$80$80$80
North America Citi-Branded Cards EOP Loans (Millions) $90,500$90,500$86,000$67,200$67,500
North America Citi-Branded Cards EOP Open Accounts (Millions) 3434332424
North America Citi-Branded Cards Net Credit Expense (Millions) $2,447$2,447$1,909$1,892$2,197
North America Citi-Branded Cards Net Interest Revenue (Millions) $7,276$7,276$6,954$6,440$6,644
North America Citi-Branded Cards Purchase Sales Revenue (Millions) $319,700$319,700$250,600$182,600$171,900
North America Consumer Banking Benefits and Claims Expense (Millions) $33$33$34$38$40
North America Consumer Banking Citi Retail Services Revenue (Millions) $6,427$6,427$6,403$6,431$6,462
North America Consumer Banking Citi Retail Services Income (Millions) $894$894$1,276$1,521$1,668
North America Consumer Banking Citi Retail Services Credit Expense (Millions) $2,155$2,155$1,805$1,709$1,866
North America Consumer Banking Citi-Branded Cards Revenue (Millions) $8,578$8,578$8,191$7,809$8,287
North America Consumer Banking Citi-Branded Cards Income (Millions) $1,339$1,339$1,468$2,075$2,396
North America Consumer Banking Citi-Branded Cards Credit Expense (Millions) $2,447$2,447$1,909$1,892$2,197
North America Consumer Banking Credit Reserve Build/ (Release) Expense (Millions) $869$869$654-$339-$1,242
North America Consumer Banking Net Income (Millions) $2,793$2,793$3,293$4,279$4,417
North America Consumer Banking Net Credit Expense (Millions) $4,796$4,796$3,917$3,753$4,205
North America Consumer Banking Net Interest Revenue (Millions) $18,881$18,881$18,221$17,546$17,201
North America Consumer Banking Non-Interest Revenue (Millions) $1,381$1,381$1,629$2,034$2,456
North America Consumer Banking Operating Expense (Millions) $10,160$10,160$10,070$9,283$9,691
North America Consumer Banking Retail Banking Income (Millions) $560$560$548$684$353
North America Consumer Banking Retail Banking Accounts (Millions) 99111112
North America Consumer Banking Retail Banking Credit Expense (Millions) $194$194$203$152$142
North America Consumer Banking Total Revenue (Millions) $20,262$20,262$19,850$19,580$19,657
North America Consumer Banking Unfunded Lending Commitments Expense (Millions) $4$4$7$7-$8
North America Consumer Retail Banking Revenue (Millions) $5,257$5,257$5,256$5,340$4,908
North America Consumer Retail Banking Branches 694694723780849
North America Consumer Retail Banking EOP Commercial Loans (Millions) $9,500$9,500$9,000$7,800$8,600
North America Consumer Retail Banking EOP Mortgages (Millions) $44,300$44,300$44,200$41,900$36,700
North America Consumer Retail Banking EOP Personal and Other Loans (Millions) $2,200$2,200$2,100$2,500$1,500
North America Consumer Retail Banking Investment AUMs $60,300$60,300$52,800$48,900$36,200
North America Consumer Retail Banking Investment Sales Income (Millions) $26,400$26,400$20,800$17,900$15,300
North America Consumer Retail Banking Mortgage Originations (Millions) $3,000$3,000$5,600$6,200$6,700
North America Consumer Retail Banking Net Credit Expense (Millions) $194$194$203$152$142
North America Consumer Retail Banking Net Interest Loans Revenue (Millions) $989$989$1,089$1,047$1,031
North America Consumer Retail Banking Saleable Mortgage Rate Locks (Millions) $1,300$1,300$2,600$3,200$3,800
North America Consumer Retail Banking Third Party Mortgage Servicing Portfolio (Millions) $47,300$47,300$143,200$159,500$171,900
North America Consumer Retail Banking Total EOP Loans (Millions) $56,000$56,000$55,300$52,200$46,800
North America Institutional Clients Group Revenue (Millions) $13,636$13,636$12,664$12,496$12,330