Citigroup profits exceed 13% in the third quarter of 2011 (French - Archive)
The group of U.S. giant Citigroup profit of $ 3.8 billion during the third quarter of this year, and thus able to increase its profits by 13% compared to the second quarter of the same year.
This comes while implementing the group - which is the third largest banking group in America - a program to reduce the labor and services after the loss suffered as a result of the mortgage crisis the end of 2007.
During the period mentioned, each share of the group has achieved a profit by $ 1.23. The total Group revenue amounted to 20.86 billion dollars.
Said Group Chief Executive Vikram Pandit that Citigroup Although sailing in difficult economic environment, it has achieved good operating results.
It should be noted that the $ 1.9 billion of group revenues in the third quarter came from the revaluation of the group's debt, a move described by the media and many in America as a sort of accounting trick.
Without that reassessment, the profit generated will be $ 2.3 billion, a decrease of 33% from the same period last year.
The decreased revenues for the stock market by 73% to $ 289 million.
At the same time monitored the banking group $ 32.1 billion to cover loan losses, which is equivalent to 5.1% of total loans.
Source: Agencies