Check Out Citigroup’s Q4 And 2021 Financial Results

Citigroup’s stock, valued at $67.84 in the last official trade, dropped 4% in premarket trading. Given this, the loss for the week amounted to 1.7%. For this period, the maximum price was $68.34, which was reached on January 13 before the end of the trades. C is a stock of Citigroup, a company providing various financial services around the world. It conducts business through its two divisions: Global Consumer Banking (GCB) and Institutional Clients Group (ICG). They differ in that the first one provides bank cards and services only to retail customers, while the second one offers all kinds of financial services to wholesalers.

Citigroup

Today, Citigroup released its financial results for the 4th quarter ended 31 December and 2021. According to the report, Citigroup’s profit plummeted 26% to $3.2 billion, compared with the quarter last year, when profit was $4.3 billion. Such a huge drop was caused by the fact that the costs of the enterprise plummeted 8%. In addition, the withdrawal from retail banking in South Korea will increase costs until almost 2024. The good news is, the bank’s investment banking business surged revenue by more than 43% and the total revenue was $17 billion. These were just the main indicators, you can get more detailed information on the official website of the company.