Wilson PonCitigroup Made Its Massive One-off Gain!
March 22nd 2010 02:03
Here is good news from the Citigroup, one of the biggest banks in the United States.
After a year of struggling from the loss of $2.5 billion in 2008, Citigroup gains it momentum back, when it made a total of $4.28 billion in the second quarter of 2009.
Honestly, it’s a very huge booster for the Citigroup, especially in this tough situation, where there are more than 63 banks have been bankrupted in the past few months.
For your information, the Citigroup profits were came from a one-off gain of $11.1 billion from the sale of its Smith Barney brokerage.
However, Citigroup has still faced the losses on consumer loans, as there are many credit card holders won’t didn’t clear their credit debts yet, which is accumulated more than $2.5 billion!
The Citigroup has received a total of $45 billion bail-out earlier from the US government.
Honestly, Citigroup is now in the “mixed bag”, where it has the advantage and disadvantage sides. The best part is the bank earnings are looking good, while the bad thing is there are many credit losses in for their business!
The Citigroup will have a tougher situation waiting for them in the near future…
After a year of struggling from the loss of $2.5 billion in 2008, Citigroup gains it momentum back, when it made a total of $4.28 billion in the second quarter of 2009.
Honestly, it’s a very huge booster for the Citigroup, especially in this tough situation, where there are more than 63 banks have been bankrupted in the past few months.
For your information, the Citigroup profits were came from a one-off gain of $11.1 billion from the sale of its Smith Barney brokerage.
However, Citigroup has still faced the losses on consumer loans, as there are many credit card holders won’t didn’t clear their credit debts yet, which is accumulated more than $2.5 billion!
The Citigroup has received a total of $45 billion bail-out earlier from the US government.
Honestly, Citigroup is now in the “mixed bag”, where it has the advantage and disadvantage sides. The best part is the bank earnings are looking good, while the bad thing is there are many credit losses in for their business!
The Citigroup will have a tougher situation waiting for them in the near future…
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