Citigroup has increased in the past fourth-quarter profit was stronger than expected. Over the year, the Bank has earned more money than Deutsche Bank's stock market value.
Indeed, had warned the Cititbank in December against too high expectations, and declared that they would not achieve their own objectives well. However, the proposed Surplus exceeds the expectations of the analysts.
earnings per share in the fourth quarter rose by 26 percent to 1.61 dollars. Only a total of 4.3 billion Dollar increase in total profit, but also a buy-back of eight per cent of the issued shares will not be added.Lower costs
In the prior-year period had run in the Institute due to one-off charges by the U.S. tax reform, a loss of 18.9 billion dollars. Adjusted for special effects the profit this Time rose thanks to lower costs and lower taxes by 14 percent to 4.22 billion dollars. The revenue rose by only one percent to 72.9 billion dollars.
Further course information, to Citigroup
In the entire year 2018, the Bank generated a Surplus of $ 18 billion, after a loss of 6.6 billion in the previous year. The reported profit for the year is higher than the valuation of the total German Bank.the start of the reporting season
In the fourth quarter, revenues decreased due to a weak bond business by as much as two percent on 17,12 billion. This is slightly less than experts had expected, which is mainly due to the weak business with bonds.
Citigroup is the first of the six major American banks, the submit this week their Numbers. Tomorrow, Tuesday, the investment Bank JPMorgan and San Francisco-based Bank Wells Fargo to follow.
In premarket trading, investors react initially disappointed at the Numbers. In the past year, shares of Citigroup have fallen by nearly 40 percent, last but the shift back to strong.
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