Weak bonds business: Citigroup with billions of dollars in profits

The American Bank Citigroup has earned in the past year thanks to good business with corporate and private customers, operationally, something more. The especially end of the year, the weak of Constitution, the bond markets are prepared for it.

Over the year, profit before tax rose by 3 percent to slightly more than $ 23 billion, as the Bank announced on Monday in New York. The income rose by 1 percent to nearly 73 billion dollars. So the result was slightly weaker than experts had expected, which is mainly due to the weak business with bonds. The stock fell in premarket trading to about 0.3 percent, which was better than the overall market.

the bottom line is a profit of $ 18 billion stand – after a Minus of around 7 billion dollars in the year 2017. At that time, a load of a little more than $ 22 billion in connection with the tax reform of President Donald Trump had arranged for the losses. Since Trump has lowered the tax rates for companies had to write off the Bank at the end of 2017, the value of so-called loss carry-forwards from the financial crisis.

For the fourth quarter, the Bank recorded a Surplus of 4.3 billion dollars. In the prior-year period, the Institute had to be retracted due to one-off charges by the American tax reform, a loss of 18.9 billion dollars. Revenues in the fourth quarter decreased by two percent to 17,12 billion dollars. Analysts had expected the cut, with 17,55 billion dollars.