UPDATE 1-Citigroup profit nearly halves as loan defaults loom
Citigroup Inc reported a 46%
plunge in quarterly profit on Wednesday as the bank set aside
nearly $5 billion to prepare for an expected flood of defaults
on loans due to a virtual halt in economic activity caused by
the coronavirus pandemic.
plunge in quarterly profit on Wednesday as the bank set aside
nearly $5 billion to prepare for an expected flood of defaults
on loans due to a virtual halt in economic activity caused by
the coronavirus pandemic.
Posted by Reuters
