Citi Breaks Out Good Bank/Bad Bank Results

Citigroup (C Quote) on Friday touted the health of what it considers its core businesses going forward, as it broke out historical financial data from its recently restructured business lines.

Citi earlier this year was split into a so-called good bank, which housed assets it planned to keep, and so-called bad bank, which included soured securities and other assets it planned to unload. At the end of March, Citicorp, the good bank, made a profit of $7.68 billion, while Citi Holdings, the bad bank, recorded a loss of $5.34 billion, according to Citi's financial data. The company broke out quarterly results for Citicorp and Citi Holdings from the first quarter of 2007 through the first quarter of 2009.

Citi on the whole had reported a profit of $1.59 billion for the first three months of the year. ...