Citicorp’s Profits Fall 6%; Loans, Investments Cited
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From Reuters
NEW YORK — Citicorp, the nation’s largest banking company, said today its second-quarter profits fell 6%, the latest in a string of pessimistic earnings among the nation’s big banks.
The parent of Citibank said its earnings fell to $235 million from $251 million in the same period last year.
Although many banking analysts had expected a falloff in Citicorp’s earnings from the year-ago level, the steepness of the decline exceeded most forecasts.
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