Q1 Snap: good progress on key targets
On an adjusted basis, C delivered a 4% EPS beat. Although the result was largely driven by a net loan loss release of $146m in ICG, the underlying numbers were also very solid. Some of the unsung elements continued to deliver in ICG with TTS revenues up 8% YoY, Private Bank up 21% YoY and Corporate Lending up 19%. Consumer credit remained under control and was effectively a non-issue in 1Q18. Costs were also well controlled. Overall, an RoTCE of 11.4% displayed some very good progress on the FY18 target of 10.5%.Citigroup is a financial services holding company whose businesses provide consumers, corporations, governments and institutions with a range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, trade and securities services and wealth management. The company operates via two primary business segments: Global Consumer Banking, which provides banking services to retail customers through retail banking, Citi-branded cards and Citi retail services; and Institutional Clients Group, which includes banking and markets and securities services.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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