06:47:25 EDT Thu 03 Jul 2025
Enter Symbol
or Name
USA
CA



Citigroup CDR (CAD Hedged)
Symbol CITI
Shares Issued 1,600,000
Close 2024-07-09 C$ 28.60
Market Cap C$ 45,760,000
Recent Sedar Documents

Globe/wire say Citi, rivals hear weaker Q2 expected

2024-07-10 08:11 ET - In the News

Also In the News (C-BOFA) Bank of America CDR (CAD Hedged)
Also In the News (C-GS) Goldman Sachs CDR (CAD Hedged)
Also In the News (C-JPM) JPMorgan CDR (CAD Hedged)

The Globe and Mail reports in its Wednesday, July 10, edition that analysts say some of the largest U.S. banks are likely to report weaker profits for the second quarter. A Reuters dispatch to The Globe reports that analysts anticipate an increase in provisions for potential losses on commercial and industrial (C&I) loans, as well as in commercial real estate. Morgan Stanley analyst Betsy Graseck says, "We're conservatively baking in normalization of the credit cycle." C&I loans pose greater risks to major banks than they did in 2023, according to the Federal Reserve's latest health check last month. Under the Fed's stress-test scenario, C&I loss rates are projected to rise to 8.1 per cent, from 6.7 per cent in last year's exam. Despite the lacklustre outlook, Wall Street divisions should benefit from an advance in deal making. Merger and acquisition volumes hit $1.6-trillion globally in the first half of the year, up 20 per cent from a year earlier. Equity capital market volumes climbed 10 per cent during the same period. Analysts will also pay close attention to banks' commentary on interest income, as market participants increasingly expect the Fed to cut interest rates in the coming months.

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