Citigroup also noted its effective tax rate fell to 24 percent in the third quarter from 31 percent a year earlier. That pushed third-quarter profit up 21.8 percent on a year-over-year basis.
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JPMorgan, Citigroup See Profits Reduced by Bond-Market Languor. Revenue in JPMorgan’s bond-trading division tumbled 27% from a year earlier to $3.2 billion, while Citigroup’s slid 16% to $2.9 billion.
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Citigroup posts $2.2 billion profit. The provision for credit losses, the funds set aside for the allowance of bad loans, was reduced to $5.9 billion, the lowest since the second quarter of 2007, prior to the onset of the financial crisis. That’s a decrease of 11% from the previous quarter and nearly 35% from a year ago.
Citigroup posts Q3 2010 profit of $0.07 a share. and unfunded lending commitments of $2.0 billion in the third quarter 2010, compared to a $1.5 billion net reserve release in the prior quarter.
Obama to renew push for wider mortgage refinance plan After all, they loathe everything Obama and the Democrats have even hinted. Survey participants said about 32 percent of this refinance volume was for home affordable refinance Program (HARP) loans.
While third-quarter profit at Well fargo rose 22 percent to $4.06 billion, a record, its $19.6 billion in revenue missed the $20.2 billion estimate of analysts surveyed by Bloomberg. helped.
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Citi said it earned $3.2 billion, or $1 a share, in net income in the quarter, up from $468 million, or 15 cents a share, during the same period a year ago.
· Citigroup Inc will record $2.7 billion in litigation expenses and another $800 million in repositioning charges, leaving the third-largest U.S. bank "marginally profitable" in the fourth quarter.
Investment bank Goldman Sachs posts $3.2 billion quarterly profit; plans to give $23B in bonuses.. compared to $845 million or $1.81 a share in last year’s third quarter, the company announced..
· Jeff Bezos is $3.2 billion poorer after Amazon posts lower-than-expected earnings By Rob Thubron on October 28, 2016, 6:15 7 comments We’re used.
Bank of America BAC, -0.21% said its net loss applicable to common shareholders was $2.24 billion, or 26 cents a share, in the third quarter, compared to a profit of $704 million. had expected the.
Those $3.5 billion in combined surprise expenses are expected by Corbat to wipe out most of Citigroup’s fourth quarter profit. "The combination of. recent quarterly earnings results. In the third.
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The third-quarter results released thursday marked the 19th straight profitable quarter for the government-controlled company. Washington-based Fannie Mae said it will pay a dividend of $3 billion.