StockWatch: Citigroup Exiting 13 Retail markets
Citigroup posted results that beat analysts’ estimates for Q1 profits with strong investment banking revenue.
The firm also said it was shuttering retail #banking operations in 13 countries across #Asia and parts of Europe to focus more on wealth management outside the US.
Bank of America also posted strong first-quarter results. However, the stock tumbled as investors focused on the bank’s Covid-19 related expenses and weaker-than-expected net interest income and loan growth.
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