
Reggie Middleton is an entrepreneurial investor who guides a small team of independent analysts, engineers & developers to usher in the era of peer-to-peer capital markets.
1-212-300-5600
reggie@veritaseum.com
Introduction
Citigroup Inc. (Citigroup or the Bank), the largest credit card issuer in the US, has reported Net Revenues of USD 17.3 billion and Net Profits of USD 2.2 billion during the turbulent 3rd quarter 2020 exceeding analysts' estimates. The Bank's profit fell 34% in the 3rd quarter due to weakness in its consumer banking division. The bank’s trading division once again offset a slump in profits driven by near-zero interest rates and reserve build-ups. Revenue fell 7% from the year-ago period as thriving trading desks fell short of offsetting a consumer banking slump. Increased loan-loss reserves led net income to tank 34% on Y-o-Y basis. The bank did set aside less money fo
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