Citi takes fixed income hit in fourth quarter

By Craig McGlashan
17 Jan 2014

A 15% fall in Citi’s fixed income revenues took part of the blame for a fall in overall revenues at the banking group during the final quarter of 2013, although it was still able to post a large increase in pre-tax profits.

Citi’s net income before taxes was $3.8bn over the three months, up from $1.1bn over the same period in 2012. But overall revenues declined slightly, dropping by 2% to $17.9bn excluding credit and debit valuation adjustments (CVA/DVA). The bank blamed a fall in fixed income and its US ...

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