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After good Q4 show, Citigroup eyes $2-bn more revenue from lending in 2019

Citigroup cited widening credit spreads and the market correction in December for the fall


Citigroup Inc said it would earn $2 billion more in revenue from its lending activities this year than in 2018 as it reported better than expected fourth-quarter earnings, sending its shares more than 4 per cent higher. Chief Financial Officer John Gerspach pointed to growing revenue from its consumer banking business and a reduced government surcharge for deposit insurance, as drivers for net interest income this year. More broadly, the US economy remained strong, and global economies are doing well, he said. He noted that slower economic growth in China was not hurting the ...

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First Published: Tue, January 15 2019. 00:22 IST