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Citigroup profit beats on smaller drop in trading revenue

Reuters 

REUTERS - Citigroup Inc reported a quarterly profit that beat analysts' estimates as trading revenue held up better than the company's forecast and loans grew.The lender said markets revenue declined about 7 percent in the second quarter from a year earlier, smaller than the 12 percent drop Chief Financial Officer John Gerspach had projected at a conference two weeks before the end of the quarter.Client trading surged a year earlier around UK's Brexit vote. The fourth-biggest U.S. bank by assets said on Friday net income fell 3.2 percent to $3.87 billion in the second quarter ended June ...

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First Published: Fri, July 14 2017. 17:44 IST
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