Citigroup Posts Better-Than-Expected Profits, Returns Capital to Shareholders
Citigroup reported fourth-quarter earnings that topped estimates. The company returned $4.7 billion of capital to shareholders during the quarter.
Citigroup (C) - Get Report reported fourth-quarter earnings that topped estimates. The company returned $4.7 billion of capital to shareholders during the quarter.
The bank is sitting on a thick capital cushion, with a Tier 1 capital ratio of 12.5%, a decrease from 12.6% in the third quarter.
Steve Blitz, a contributor to Real Money, said the bank is trying to shrink its balance sheet.
Revenue of $17.012 billion missed estimates of $17.3 billion. Markets trading revenue surged 24% year over year to $4.1 billion.
