Citigroup shares with significant losses: Citigroup earns more than expected |...

The Corona crisis also bothered Citigroup in the third quarter.

However, the drop in profit of a good third was not as strong as feared.

Citigroup earned 3.2 billion US dollars in the third quarter, 34 percent less than in the same period last year, which was due, among other things, to higher costs and low interest rates. In the second quarter, however, the bank had earned only 1.3 billion due to massive risk provisions in the wake of the Corona crisis.

Earnings per share for the period were $ 1.40. Analysts had expected in the factset consensus with 91 cents. Revenues fell 7 percent year over year to $ 17 billion. Weaker retail banking was offset by higher corporate and investment bank revenues. Here the bank benefited from increasing income in bond and equity trading as well as in investment banking.

JPMorgan had previously surprised positive mint a slight increase in earnings. The quarterly reports from Bank of America, Wells Fargo, Goldman Sachs and Morgan Stanley are due in the next few days. Investors in this country will have to wait until the week after next when Deutsche Bank will present figures for the third quarter.

Citigroup investors were positively surprised before the start of US trading, and things went up. After the starting bell, however, the paper listed on the NYSE lost 4.90 percent to $ 43.63.

NEW YORK (Dow Jones)