Citigroup’s earnings are due Tuesday morning and are expected to show a 28% decline in quarterly profits from a year ago as lower interest rates crimp profits and the bank continues to implement an expensive, supervised recovery plan from CEO Jane Fraser and her colleagues. new leadership team.
Analysts polled by FactSet expect the bank, the fourth-largest in the U.S. by assets, to report net income of $2.55 billion, up from $3.55 billion a year ago.
Investors will tune in to Citi’s earnings call on Tuesday for updates on the lender’s regulatory issues. They attracted more public attention early this month after Senator Elizabeth Warren, Democrat of Massachusetts, said in a letter to one of Citi’s regulators that Citi should be limited in its growth options until it resolves long-standing internal weaknesses.
