Halister News

(Bloomberg) -- Citigroup 4Q EPS $1.14, est. $1.12.

• 4Q fixed income trading rev. $3.01b vs est. $2.83b
• 4Q equity markets trading rev. $694m vs est. $708.0m
• 4Q investment banking rev. $1.13b vs est. $1.02b
• 4Q rev. ex CVA/DVA down 9% y/y, driven by continued Citi Holdings wind down; partially offset by 6% increase in Citicorp rev. 
  • Citi Holdings rev. $657m, down 79% y/y amid absence of net gains from asset sales
  • Quarter is last time C will report Citi Holding results separately; assets now 3% of balance sheet 
• 4Q NIM 2.79% vs 2.86% reported in 3Q statement
• 4Q operating expenses down 9% y/y to $10.1b
• Cost of credit $1.8b, down 29% amid absence of significant loan loss reserve builds related to energy exposure in ICG
• Loans $624b, up 1% y/y
• Tier 1 common ratio 12.5% vs 12.6% q/q
  • SLR 7.2% vs 7.4%
• Return on avg. common equity 6.2% vs 6.8% q/q
• BV/shr $74.26 vs $74.51 q/q; TBV/shr $64.57 vs $64.71
• Bought back 79m shares in 4Q, 196m in 2016
• NOTE: Jan. 17, Trump Tax Comments May Be Spooking the Market, Analysts Say
• Call 11am 866-516-9582 pw 31487788

To contact the reporter on this story: Felice Maranz in New York at fmaranz@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Will Daley