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Citigroup posts quarterly shareholder loss.

Global Banking News-15 October 2009-Citigroup posts quarterly shareholder loss(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 15 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Citigroup Inc (NYSE: C) has registered a quarterly loss to shareholders as it suffered USD8bn of credit losses, raising questions about the future of the bank, which is one-third owned by the US government.

Citigroup, which has posted more than USD100bn of writedowns and consumer credit losses since the credit crisis began, has posted a third-quarter net loss to shareholders of USD3.2bn, or USD0.27 a share.

The results compare with a loss of USD2.9bn, or USD0.61 a share in the third quarter last year.

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Publication:Global Banking News (GBN)
Date:Oct 15, 2009
Words:142
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