Citigroup Reports $3.9B in Quarterly Profits

first_imgHome / Daily Dose / Citigroup Reports $3.9B in Quarterly Profits Demand Propels Home Prices Upward 2 days ago Citigroup Reports $3.9B in Quarterly Profits Tagged with: Citigroup Profits Quarterly Earnings Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Citigroup Profits Quarterly Earnings 2014-04-14 Tory Barringer Sign up for DS News Daily center_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post April 14, 2014 621 Views Servicers Navigate the Post-Pandemic World 2 days ago Citigroup profits outperformed analysts’ expectations for the first quarter, thanks to declines in expenses and net credit losses.The bank reported Monday profits of $3.9 billion in Q1, just barely edging out last year’s income of $3.8 billion. Gains were more impressive when put next to Q4’s earnings, which disappointed at $2.5 billion.The gain came despite a year-over-year drop in total revenues, which were down 1 percent to $20.1 billion as a result of declines in fixed income markets revenues and lower refinancing activity.Commenting on the earnings report, Citi CEO Michael Corbat said, “Despite a quarter that was difficult for our company, we delivered strong results.”Indeed, the bank did see its share of setbacks. In early April, Citi offered a $1.13 billion settlement to resolve claims on residential mortgage-backed securities, taking a charge of $100 million in its first-quarter results.Only weeks before that, the Federal Reserve shocked the bank by denying its plans to repurchase stocks and increased dividends based on objections over its capital planning processes.“Very cognizant of our shareholders desire to see a sustainable return of capital, we are engaged with the Fed to better understand their expectations regarding the CCAR [Comprehensive Capital Analysis and Review] process,” Corbat said, adding that Citi remains committed “to bringing our capital planning process to the highest possible standards.”For all the difficulties the company faced, there were a few bright spots. According to the Q1 report, operating expenses came to $12.1 billion, 1 percent lower than the prior-year period, driven by efficiency savings and a decline in Citi Holdings assets (partly offset by higher regulatory costs and legal expenses).Meanwhile, Citi reported net credit losses of $2.4 billion, a 15 percent decline year-over-year, and a loan loss reserve release of $673 million (compared to $650 million), boosting overall profits. Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Previous: Lincoln Appraisal & Settlement Services President Earns Appointment Next: RE/MAX Associates of Dallas Welcomes New Sales Associatelast_img read more

Minister says leeway critical on promissory note deal

first_img RELATED ARTICLESMORE FROM AUTHOR Twitter Need for issues with Mica redress scheme to be addressed raised in Seanad also By News Highland – February 18, 2013 Dail to vote later on extending emergency Covid powers News Minister says leeway critical on promissory note deal Minister McConalogue says he is working to improve fishing quota Facebook Google+ Twitter Man arrested in Derry on suspicion of drugs and criminal property offences released center_img 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report WhatsApp Previous articleGovernment gets F grade for child povertyNext articleGardai question 35-year-old over Cork murder News Highland The Minister for Social Protection says it is critical that the promissory note deal gives Ireland some leeway.It is reported the Troika is unhappy with comments by Minister Joan Burton in the Dail last week when she indicated that the money saved should be used to soften the Budget this year.The EU, ECB and the IMF are concerned that using the money this year could damage the Irish push to return to the bond markets.Minister Burton says the Troika must be aware of the high levels of unemployment in Ireland and have indicated themselves that they underestimated the effect of austerity on jobs in Ireland.She also dismissed suggestions of division between Labour and Fine Gael on the issue saying she is not aware of any Government Minister who does not want to get people back to work.”The critical thing is that the promissory note deal gives Ireland a small bit of extra leeway in relation to helping people to get back to work” she said.”I would like to see the Budget framed in the context of helping people to get back to work; and we have that little bit of extra leeway from the promissory note deal” she added. Facebook Pinterest Google+ Dail hears questions over design, funding and operation of Mica redress scheme Pinterest WhatsApplast_img read more

US 7th Fleet Strengthens Relationship with Indo-Asia Pacific

first_img View post tag: 7th View post tag: Naval Authorities December 12, 2014 US 7th Fleet Strengthens Relationship with Indo-Asia Pacific View post tag: News by topic View post tag: americas View post tag: strengthens Back to overview,Home naval-today US 7th Fleet Strengthens Relationship with Indo-Asia Pacific View post tag: Indo-Asia-Pacific View post tag: Navy View post tag: asia Share this article View post tag: US View post tag: Relationship View post tag: fleet Senior leaders from U.S. 7th Fleet visited Colombo, Sri Lanka and Male, Maldives and attended the Galle Dialogues international Maritime Conference Dec. 1-6, building relationships to improve maritime security in the Indo-Asia Pacific.While in Sri Lanka, 7th Fleet leaders met with officials from the Indian Navy, PLA(N), Royal Australian Navy, Japan Maritime Self-Defense Force and many others to discuss maritime security, theater security cooperation, and common maritime issues amongst nations on the region.Vice Adm. Robert Thomas, 7th Fleet commander, said:We work with more nations and more cultures than any other fleet.It’s our job to build those relationships that lay the foundation for the future success of this region. Building these relationships helps maintain security and stability.The Galle Dialogues have become a premier international maritime forum, with 37 maritime nations sending senior leaders to discuss critical issues of the day in a strategic forum. Discussions included humanitarian assistance and disaster relief, trade, maritime patrol and reconnaissance missions, counter-terrorism and coast guard issues in the Asian theater and beyond.After the visit to Colombo and Galle, Sri Lanka, the 7th Fleet team visited Male, Maldives to discuss multinational maritime domain awareness opportunities.The U.S. 7th Fleet conducts forward-deployed naval operations in support of U.S. national interests in the Indo-Asia-Pacific area of operations. As the U.S. Navy’s largest numbered fleet, 7th Fleet interacts with 35 other maritime nations to build partnerships that foster maritime security, promote stability and prevent conflict.[mappress mapid=”14702″]Press release, Image: US Navylast_img read more