Citigroup Inc. (NYSE:C) is one of the stocks Jim Cramer shared his thoughts on. Cramer highlighted the situation of the bank’s Russian operations while discussing its recent quarter, as he commented:
“Last but not least, there’s Citigroup, which delivered another good, solid quarter, the latest in a long line of no drama results under CEO Jane Fraser. Excluding a one-time charge related to the… sale of its Russian operations, Citi saw 8% revenue growth while earnings per share were up 35%. Citi had the best in interest income of all banks, up 14%, also ahead of expectations. But as with Bank of America, they benefit from a smaller-than-expected provision for credit losses, which signals confidence in the economy. But it’s not an operational number. Below the top lines, it’s where it hurts. It was a mixed bag. Citi’s services business and its banking business both beat, so did the markets business, but that was driven by fixed income as equity trading fell a bit short. The company’s personal banking in the United States had a shortfall… I liked that business. It needs to really climb. As did the wealth unit, though, the wealth shortfall was very small.
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Citigroup Inc. (NYSE:C) provides financial products and services across banking, markets, and wealth management.
