Citigroup's net profit quadrupled in the first half - Get to know Forex

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Citigroup’s net profit quadrupled in the first half


MOSCOW, July 14 – PRIME. The net profit of one of the largest financial corporations in the world, Citigroup Inc. in the first half of 2021 rose almost four times compared to the same period in 2020, amounting to $ 14.135 billion, according to the corporation. Net profit of Bank of America in the first half increased 2.4 times Diluted earnings per share amounted to 6.47 dollar against $ 1.43 a year earlier. The financial giant’s revenue for the reporting period decreased by 9% to $ 36.801 billion. Net profit for the second quarter of 2021 jumped 5.9 times and reached $ 6.193 billion. Diluted earnings per share were $ 2.85 versus $ 0.38 a year earlier. At the same time, revenue fell by 12% and amounted to $ 17.474 billion. Analysts had forecast earnings per share of $ 1.99 and revenues of $ 17.36 billion. Second-quarter costs increased 7% year-on-year to $ 11.192 billion. Goldman Sachs 1H Net Profit Grows 9.1x “The pace of global recovery is outstripping early expectations, and consumer and corporate confidence is on the rise. it’s in our divisions, “Citi CEO Jane Fraser said in the release. Banking group Citigroup, founded in 1812, has a significant impact on the entire banking sector and the financial system of the United States and is included in the so-called “Big Four” banks in the country, along with its main competitors – Bank of America, JP Morgan Chase and Wells Fargo.


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