Vladimír Urbánek (Kurzy.cz)
World markets  |  January 17, 2013 16:32:26

Citigroup Results for 4Q12 fell short of market expectations


Third largest U.S. bank Citigroup reported 3Q of this year, the annual growth in net profit by 25% to 1.2 mld.USD = 38 cents per share. Excluding some one-off items amounted to 69 cents profit levels, which significantly lagged behind the average of estimates in this regard set at about 96 cents.

The Bank's 4Q become a world leader in underwriting risky bonds with a rating lower than BBB-by S & P, though there for the entire year 2012 has sold for a total of $ 130 billion, which is three times the value in 2011. Last year's result is the highest since at least 1999.

Citigroup also did well in the underwriting of bonds included in the investment zone credit ratings. Those for the whole year sold for mld.USD 227 = 53% more year on year. The total share of Citigroup's underwriting of bonds thus rose to 356.1 billion resultingCompared to $ 251.2 mld.USD in 2011.

Shares of Citigroup Q4 grew by 21% for all of last year, then 50%, which was the highest since 1999. Since the change in CEOs title last October gained 16%.
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