Citigroup sees trading revenue growth

Citigroup CFO John Gerspach says trading revenue is growing at a “low double-digit” pace this quarter from a year ago. His track record shows investors can be more optimistic.

Bloomberg News reports that in last year’s fourth quarter, the bank’s trading jumped 31% after Gerspach predicted in the final weeks it would increase about 20%.

A quarter earlier, it climbed 16% after he signaled a rate in the “mid-single-digits.” And the quarter before that, total trading and investment-banking revenue rose 17%. Gerspach’s boss, CEO Michael Corbat, had said it would be “up slightly.”

Trading, even in the final weeks of a period, can be notoriously hard for Wall Street executives to predict because prices and client activity can swing suddenly on global crises, surprise central bank decisions and even a president’s tweets.

Hit the link below to access the complete Bloomberg News article:

Citigroup CFO, a Master of Restraint, Predicts Trading Up a Bit

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