Citi On The Raise
Tuesday, February 7th, 2012The citigroup has announced profit after a long term of losses. Citi bank is one of the first American banks to show an improvement in this global economic crisis period. It reported a record $1.6 bn profit, May not seem very much but surely a huge improvement from last year’s loss of around $5.1 billion. Though when dividend payments to preferred shareholders were sorted out, it suffered a near $1bn loss, overall it is quite an achievement. This unexpected rise of performance of the citi bank bears great news for wall street, boosting the world market. Also accompanying citi bank many others have shown better results and it is expected to increase world over. Maybe the bank sector crisis is coming to an end after all.