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Citigroup second-quarter trading revenue trends tracking competitors: CEO
June 1, 2017 / 9:16 PM / 6 months ago

Citigroup second-quarter trading revenue trends tracking competitors: CEO

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.

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

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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