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Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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NEWSLETTERS & ALERTS
Citigroup Q4 Earnings Top Estimates, Returns Capital to Shareholders
[Photo: CItigroup Center in Chicago, by Tony Webster / Wikimedia Commons]
Strong 4th quarter trading (like at most other big banks) helped boost Citigroup earnings to $3.6 billion, slightly above estimates. Revenue of $17 billion, however, fell just short of analyst expectations. The bank also announced that, during the quarter, it returned $4.7 billion of capital to shareholders – to shrink its balance sheet.
Markets revenue, which includes Citi's bond- and stock-trading units, climbed 24% to just over $4 billion.
For all of 2016, Citigroup's net income fell by 14%, reflecting the abysmal start to the year when markets swooned on investor concerns about a potential Chinese currency devaluation and the possibility of a spate of oil-industry bankruptcies.