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Citigroup profit nearly halves as loan defaults loom

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Home Blogs > Business
Apr 15 '20 | By oiam2companyadmin | Views: 44 | Comments: 0

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Citigroup Inc reported a 46% plunge in quarterly profit on Wednesday as the bank set aside nearly $5 billion to prepare for an expected flood of defaults on loans due to a virtual halt in economic activity caused by the coronavirus pandemic.
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Source: https://www.reuters.com/article/us-citigroup-results/citigroup-profit-nearly-halves-as-loan-defaults-loom-idUSKCN21X1OI?feedType=RSS&feedName=businessNews

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