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.

Timestamps
– C​ 02:05​
– BAC​ 03:20