On Monday, Citigroup Inc C.N said that quarterly earnings fell 96 percent, hurt largely by a $7 billion mortgage settlement, but also by declining income in most of its main businesses including stock trading and retail banking.
There were bright spots in the results, including better- than-expected stock and bond trading results, which helped the bank post adjusted earnings that beat the average analyst estimate. Citigroup shares rose 3.7 percent to $48.74.
Citigroup to pay $7 billion mortgage settlement, should the homeowner share fault too ?
