12/6/2023, 3:54 PM (Source: TeleTrader)
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Citi forecasts trading revenue to fall up to 20% in Q4

Citigroup Inc. Chief Financial Officer Mark Mason stated Wednesday that the bank's trading revenue is expected to fall as much as 20% in the final quarter of the current fiscal year.

In a presentation at a Goldman Sachs Group US financial services conference, Mason added that the slump is related to slowing activity in rates and commodities. "Commodities is probably a bit softer in light of the lack of volatility," he stressed.

In its latest earnings report, Citigroup posted a revenue increase of 8.6% to $20.1 billion, while net profit rose 2% to $3.5 billion.

Baha Breaking News (BBN) / JG