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Citigroup CFO sees flat second-quarter markets revenue vs year earlier

Reuters  |  NEW YORK 

By David Henry

NEW YORK (Reuters) - Inc sees second-quarter markets revenue coming in "flattish" compared to a year earlier, said on Wednesday.

Speaking at an investors conference, Gerspach said the equities portion of total markets revenue will likely be stronger than that from fixed income and commodities trading.

His outlook for markets revenue was similar to assessments given two weeks ago by executives of & Co and of America Corp.

Gerspach also said the company could see more cost savings in its in 2019 and 2020 than executives had projected in July 2017 at the bank's investor meeting. "In consumer, there is likely to be some upside," he said.

"More and more customers, they really want to interact with us digitally from mobile platforms," which reduces the cost to serve accounts, he said.

has said it will use a app to offer "national digital banking" accounts to expand its reach beyond the six cities in the where it has branches.

(Reporting by in New York; Editing by Jeffrey Benkoe)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 19:48 IST