Citigroup (NYSE: C ) Q1 net income falls 32 per cent – Dominion Lending Centres Clearlease
NEW YORK, N.Y. – (April 18, 2011) Clearlease.com Reports Citigroup ‘s first-quarter income fell 32 per cent on lower revenue from its investment banking business and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments.
The New York bank on Monday said it earned $3 billion, or 10 cents per share, compared with $4.4 billion, or 15 cents a share in the first quarter of last year. The earnings were slightly higher than the 9 cents a share estimated by analysts surveyed by FactSet.
First quarter revenue fell 22 per cent to $19.7 billion from the same period last year.
As the economy improved and more of its credit card customers made payments on time, Citigroup Inc. released $3.3 billion from reserves set aside for losses, which helped boost first quarter income. The bank also set aside $3.2 billion for future losses, down 63 per cent.
Revenue from investment banking fell 25 per cent. Lower demand for Citigroup ‘s currency and interest rate investments led to a 22 per cent decline in fixed income revenue to $4 billion. Revenue from underwriting municipal and investment grade debt also fell 19 per cent to $851 million.
Citi ‘s investment banking results were weaker than those reported last week by rivals JPMorgan Chase & Co. and Bank of America Corp.
Citigroup ‘s revenue from interest collected on consumer loans dropped 16 per cent to $12.2 billion. The decline came because Citi has been writing fewer mortgages and has been selling off some of its credit card businesses. Total consumer loans were down 35 per cent to $18.1 billion, and included a 50 per cent decline in total credit card loans and a 17 per cent decline in real estate loans.
Revenues from Citi ‘s international division rose 8 per cent to $4.6 billion. Overseas deposits increased 13 per cent to $163 billion, and loans rose 14 per cent to $126 billion.
The bank also Citi shares were unchanged at $4.41 in pre-market trading.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###
NEW YORK, N.Y. – (April 18, 2011) Clearlease.com Reports Citigroup ‘s first-quarter income fell 32 per cent on lower revenue from its investment banking business and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments.
The New York bank on Monday said it earned $3 billion, or 10 cents per share, compared with $4.4 billion, or 15 cents a share in the first quarter of last year. The earnings were slightly higher than the 9 cents a share estimated by analysts surveyed by FactSet.
First quarter revenue fell 22 per cent to $19.7 billion from the same period last year.
As the economy improved and more of its credit card customers made payments on time, Citigroup Inc. released $3.3 billion from reserves set aside for losses, which helped boost first quarter income. The bank also set aside $3.2 billion for future losses, down 63 per cent.
Revenue from investment banking fell 25 per cent. Lower demand for Citigroup ‘s currency and interest rate investments led to a 22 per cent decline in fixed income revenue to $4 billion. Revenue from underwriting municipal and investment grade debt also fell 19 per cent to $851 million.
Citi ‘s investment banking results were weaker than those reported last week by rivals JPMorgan Chase & Co. and Bank of America Corp.
Citigroup ‘s revenue from interest collected on consumer loans dropped 16 per cent to $12.2 billion. The decline came because Citi has been writing fewer mortgages and has been selling off some of its credit card businesses. Total consumer loans were down 35 per cent to $18.1 billion, and included a 50 per cent decline in total credit card loans and a 17 per cent decline in real estate loans.
Revenues from Citi ‘s international division rose 8 per cent to $4.6 billion. Overseas deposits increased 13 per cent to $163 billion, and loans rose 14 per cent to $126 billion.
The bank also Citi shares were unchanged at $4.41 in pre-market trading.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###Citigroup (NYSE: C ) Q1 net income falls 32 per cent – Dominion Lending Centres Clearlease
NEW YORK, N.Y. – (April 18, 2011) Clearlease.com Reports Citigroup ‘s first-quarter income fell 32 per cent on lower revenue from its investment banking business and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were able to keep up with their debt payments.
The New York bank on Monday said it earned $3 billion, or 10 cents per share, compared with $4.4 billion, or 15 cents a share in the first quarter of last year. The earnings were slightly higher than the 9 cents a share estimated by analysts surveyed by FactSet.
First quarter revenue fell 22 per cent to $19.7 billion from the same period last year.
As the economy improved and more of its credit card customers made payments on time, Citigroup Inc. released $3.3 billion from reserves set aside for losses, which helped boost first quarter income. The bank also set aside $3.2 billion for future losses, down 63 per cent.
Revenue from investment banking fell 25 per cent. Lower demand for Citigroup ‘s currency and interest rate investments led to a 22 per cent decline in fixed income revenue to $4 billion. Revenue from underwriting municipal and investment grade debt also fell 19 per cent to $851 million.
Citi ‘s investment banking results were weaker than those reported last week by rivals JPMorgan Chase & Co. and Bank of America Corp.
Citigroup ‘s revenue from interest collected on consumer loans dropped 16 per cent to $12.2 billion. The decline came because Citi has been writing fewer mortgages and has been selling off some of its credit card businesses. Total consumer loans were down 35 per cent to $18.1 billion, and included a 50 per cent decline in total credit card loans and a 17 per cent decline in real estate loans.
Revenues from Citi ‘s international division rose 8 per cent to $4.6 billion. Overseas deposits increased 13 per cent to $163 billion, and loans rose 14 per cent to $126 billion.
The bank also Citi shares were unchanged at $4.41 in pre-market trading.
For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html
About Dominion Lending Centres Clearlease
Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.
Headquartered in Downtown Vancouver, British Columbia. We’re expanding in Q2, 2011 to Calgary and Edmonton, Alberta! In Q3, 2011 we are expanding in Toronto, Ontario! Dominion Lending Centres Clearlease services clients from Coast to Coast. Our Residential Group has a team of Licensed Mortgage Brokers offering our clients the best terms and rates available in the current market. Our Commercial Funding/Mortgage Group is active across Canada Funding Mortgages in cities such as Toronto, Edmonton, Calgary, Vancouver and Victoria.
You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.
Contact DLC Clearlease.com:
Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. A. Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 177
eMail: [email protected]
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease
###