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Citigroup second-quarter trading revenue trends tracking competitors: CEO
June 1, 2017 / 9:16 PM / 4 months ago

Citigroup second-quarter trading revenue trends tracking competitors: CEO

A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike Segar/Files

NEW YORK (Reuters) - Second-quarter trading revenue trends at Citigroup Inc (C.N) were “in line” with recent descriptions by competitors, Chief Executive Mike Corbat said on Thursday.

Corbat spoke at an investor conference after executives from JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N) and Goldman Sachs Group Inc (GS.N) said at conferences on Wednesday that trading revenue was down from a year ago on lower volatity and weaker client activity.

Corbat said the bank will give more details in a presentation later this month. JPMorgan described a decline so far of about 15 percent. Bank of America described a 10-to-12 percent decline.

Year-earlier results were boosted by trading ahead of the United Kingdom’s vote on Brexit.

Reporting by David Henry in New York; Editing by Jonathan Oatis

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