Citigroup posts $5.11 billion loss
By Ocean on Apr 18, 2008 in Uncategorized
NEW YORK (Reuters) - Citigroup Inc, the largest U.S. bank, on Friday posted its second straight quarterly loss, hurt by more than $15 billion in write-downs and increased reserves for credit losses.
The loss totaled $5.11 billion, or $1.02 per share, and compared with a year-earlier profit of $5.01 billion, or $1.01 per share. Revenue fell 48 percent to $13.22 billion.
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