Citigroup: beats consensus in third quarter

(CercleFinance.com) - Citigroup has posted net profit down 34% for the third quarter to 3.
2 billion dollars, or 1.40 dollars per share, representing an EPS of around fifty cents more than analysts' average estimates.

At 17.3 billion dollars, the banking group's revenue shrank 7%, despite progress in its fixed income, equity, investment banking and private banking activities.

"Our capital position strengthened during the quarter with our Common Equity Tier 1 ratio increasing to 11.8% and our Tangible Book Value per share increasing to $71.95" said CEO Michael Corbat.

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