Reuters - Video

EDITION: U.S. | U.K. | IN

Breakingviews

Breakingviews: Citi sniffs success

Monday, Jul 15, 2013 - 03:36

July 15 - Reynolds Holding talks with Breakingviews editors about Citigroup’s solid Q2 earnings and whether the bank can turn its recent showing into long-term stability.

▲ Hide Transcript

View Transcript

A muggy but busy earnings week starts off with a bank in New York today Citigroup reports a 42%. Rise in its second quarter profit over last year this of course follows. Friday's pretty favorable results from JPMorgan and Wells Fargo. Anthony happy days here again clouds on the horizon what's the appropriate cliche do. Well we can run the problem is all of them by the city and an old getting good earnings despite the interest rate missive that we sewed the toes in the pools that. -- what about what happens next global slowdown was go and emerging markets. Is that something else hiring and training and Moscow and regulations that. The list together and luckily set quota for these Pakistani cities bidding was. Was pretty -- an economic down three point nine billion dollars up the stripping out an accounting gains and -- you on the best -- they've had been in years that I went wild west you're you're still saying. That they're all -- basically making her 10% return on equity. Which means that they just. Barely basically yes but actually it's there it's just don't talk much capital so one could argue if you look at that common equity. They -- and it -- yet potential -- -- is it is that you want to use them -- they suggest by its trading at. Book value at which is kind of like saying you're not destroying. The asked the value of the yes that you have you know by spending enough to -- -- -- capital. And we think the value of your assistant coach that pretty much -- welcome back to mediocrity that's a good thing in the case and if I accidentally -- -- -- -- -- to get -- -- the high point -- -- -- area and it really excellent service outside. I was things -- be pretty proud of his having -- -- trading you know half two years ago. So there's also women can -- Not to they go to apiece from some of the county elections the Central Bank in Europe was Luke was -- into the market obviously there's none of that and we'll let down last chased down nine movement is it enough is enough. And it's up its -- up from last year and established now the first quarter as is it emerging markets is Natalie -- -- relative peace summit that's the issue I think we go chapel and -- growing -- at a much markets but the truth is it's shrinking somewhat similar to say about Corbett about a strategy anything that he's doing I -- is obviously well -- Citigroup and our analysts like a Titanic you know sort of giant cruise ship whatever and it's cruising along and -- you know I still think what we're seeing here are the results of many years have recent positioning Citigroup and this sort of less turbulent waters under Vikram Pandit needed and that you can't argue before him that ship is now kind of -- in the right direction. Yours you wiggling down some of the problem assets in the Citi holdings business what does that now 130 it's now it's just 10% of -- of -- front of thirty billion. Then in the C holdings only lost only six just on the -- they have really mean that they're just to the emerging markets point even though emerging market. Growth may be slowing right it's great the growth rate is still higher than it is in the United States today. -- and so it. They are well positioned to grab the capital flows from to and from those markets in -- -- other outlets and I guess that that that does of course seem that there are problems during an Asian markets where that's. Schultz Hamlet tries Brazil when it makes -- -- -- on the coolest points and watching them DeWitt with seeing some -- -- quick seasoning of Latin -- are losing big moment though when remains. Story that you expect -- to the next. They really -- have to leave it there for now plenty more coming up this week. Stay tuned tomorrow for more breaking news.

Breakingviews: Citi sniffs success

Monday, Jul 15, 2013 - 03:36

Money »

S&P 500 closes at new high S&P 500 closes at new high

Thu, Aug 21, 2014 - (1:24)

S&P 500 just shy of record S&P 500 just shy of record

Wed, Aug 20, 2014 - (2:23)

Apple hits $100 a share Apple hits $100 a share

Tue, Aug 19, 2014 - (2:06)

Nasdaq closes at 14-year high Nasdaq closes at 14-year high

Mon, Aug 18, 2014 - (2:23)

Putin puts Wall Street in buying mood Putin puts Wall Street in buying mood

Thu, Aug 14, 2014 - (2:10)

We've become a promotional culture-RetailMeNot's Bodge We've become a promotional...

Thu, Aug 14, 2014 - (4:39)

Dow back to positive territory for year Dow back to positive territory for year

Wed, Aug 13, 2014 - (2:18)

Markets cheer Russia's Ukraine exit Markets cheer Russia's Ukraine exit

Fri, Aug 08, 2014 - (1:50)

Russia, Iraq push Dow to three-month low Russia, Iraq push Dow to three-month low

Thu, Aug 07, 2014 - (2:27)

Wall Street gains but telecom disconnected Wall Street gains but telecom disconnected

Wed, Aug 06, 2014 - (2:28)

Stocks zapped by energy weakness Stocks zapped by energy weakness

Tue, Aug 05, 2014 - (2:46)

The Exchange »

The Exchange: Hot commodity The Exchange: Hot commodity

Wed, Jul 16, 2014 - (9:25)

The Exchange: Constitutional crusade The Exchange: Constitutional crusade

Wed, Jun 25, 2014 - (11:35)

The Exchange: The value of money The Exchange: The value of money

Mon, Jun 02, 2014 - (9:53)

The Exchange: China’s Second Continent The Exchange: China’s Second Continent

Tue, May 27, 2014 - (9:35)

The Exchange: A master of business arts The Exchange: A master of business arts

Thu, May 08, 2014 - (8:24)

The Exchange: America's bankrupt cities The Exchange: America's bankrupt cities

Mon, May 05, 2014 - (8:52)

The Exchange: Let the rocking commence The Exchange: Let the rocking commence

Tue, Apr 08, 2014 - (8:13)

The Exchange: The Moneyball fallacies The Exchange: The Moneyball fallacies

Mon, Mar 24, 2014 - (9:54)

Is doing good a good business? Is doing good a good business?

Mon, Mar 17, 2014 - (7:38)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)

Moving Pictures »

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Wed, Jul 02, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

World Cup: Around the globe in 50 goals World Cup: Around the globe in 50 goals

Fri, Jun 06, 2014 - (1:08)

VIVID – Sydney’s spectacle of light VIVID – Sydney’s spectacle of light

Fri, May 30, 2014 - (1:37)

The week that changed Boston The week that changed Boston

Mon, Apr 14, 2014 - (3:28)