Citi to Boost Provision for Potential Bad Loans on US Economic Worries

Citi to boost provision for potential bad loans on US economic worries

US bank says figure will be up by a ‘few hundred million dollars’ from previous quarter

Citi to Set Aside More Money for Losses on Loans, Credit Cards

Citigroup Inc. is set to put aside hundreds of millions of dollars more than it did last quarter to account for potential losses on loans and credit cards, an early sign that the biggest US banks may be bracing for deteriorating consumer health.

Citigroup Increases Provisions for Credit Losses Due to ‘Macro Environment’

Citigroup is reportedly preparing for a potential decline in consumer financial health by putting aside more provisions for credit losses. [contact-form-7] “Given the macro environment, etc., cost of credit compared to last quarter, we expect to be up a few hundred million,” Citigroup Head of Banking Vis Raghavan said Tuesday (June 10) at a conference hosted by Morgan Stanley, according to a Bloomberg report. This move was not expected …

Citi to boost provision for potential bad loans on US economic worries - Business Fast

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldCitigroup is poised to increase provisions for potential bad loans by hundreds of millions of dollars for the second quarter, in a sign of growing financial stress among US consumers and businesses. “Given the macro