US Markets

Citigroup tempers net interest income guidance

Credit: REUTERS/CHRIS HELGREN

Citigroup Inc said on Monday that it expects net interest income to be up between 3% and 4% for the year, compared with prior guidance of 4% growth.

Sept 9 (Reuters) - Citigroup Inc C.N said on Monday that it expects net interest income to be up between 3% and 4% for the year, compared with prior guidance of 4% growth.

Speaking at the Barclays Financial Services Conference, Chief Financial Officer Mark Mason said the flattening of the yield curve and expectations of multiple interest rate cuts from the Federal Reserve by the end of the year have made the bank more cautious about its lending outlook.

Mason also said third quarter trading and investment banking fees are expected to be lower.

(Reporting by Imani Moise)

((Imani.Moise@thomsonreuters.com; 646-223-6335;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More