Halister News

(Bloomberg) -- Citigroup 1Q EPS $1.35 vs est. $1.24 (range $1.20-$1.29); includes ~8c gain from episodic items in corporate/other segment.

• Corporate/other rev. of $1.2b includes ~$750m of gains on asset sales, which more than offset ~$300m charge related to exit of U.S. mortgage servicing operations
• 1Q fixed income markets rev. $3.62b vs est. $3.52b (Bloomberg survey of 10 ests.)
• 1Q equity markets trading rev. $769m vs est. $774.1m (Bloomberg survey of 10 ests.)
• 1Q investment banking rev. $1.21b vs est. $1.17b (Bloomberg survey of 8 ests.)
• 1Q total rev. $18.1b, up 3% y/y driven by growth in Institutional Clients Group and Global Consumer Banking; also cites progress in Equities, U.S. Cards and Mexico
• Utilized ~$800m in deferred tax assets
• 1Q expenses $10.5b vs $10.1b q/q
• Cost of credit $1.7b vs $1.8b q/q
• CET1 ratio 12.8% vs 12.5% q/q
• BV/shr $75.86 vs $74.51 q/q
• ROE 7.4% vs 6.2% q/q
• Loans $629b, up 2% y/y
• Bought back 30m shares in 1Q
• Conference call at 11:30am, 866-516-9582, pw 32140614
• NOTE: Earlier, JPMorgan Surpasses Analysts’ Estimates as Trading Revenue Rises
• NOTE: April 12, PREVIEW BANKS 1Q: Will NIM Gains Offset Stalled Lending?

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