Citi Says Credit Card Losses Continue To 'Normalize,' Expects Losses To Trend Up; Retail Banking Business Is A 'Drag' On Our Returns
Portfolio Pulse from Benzinga Newsdesk
Citi has observed a normalization in credit card losses, expecting an upward trend in losses. Additionally, its retail banking business is negatively impacting returns, as reported by Reuters.
February 20, 2024 | 7:02 pm
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NEGATIVE IMPACT
Citi expects credit card losses to trend upwards and identifies its retail banking business as a negative factor on returns.
The expectation of rising credit card losses and the negative impact of the retail banking business on returns could lead to investor concern over profitability and operational efficiency, potentially affecting the stock price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90