(Bloomberg) — Citigroup Inc. posted its biggest quarterly profit of the pandemic after reaping another windfall from trading bonds and expressing newfound confidence in the resilience of its loan book.Traders focusing on fixed income, currencies and commodities posted their best third quarter in eight years, while the firm set aside about $1.5 billion less for bad loans than what analysts had estimated. That helped the bank blunt the impact of regulatory costs and low interest rates.While the trading boon came from a surge in client activity that’s helped Wall Street banks throughout the pandemic, Citigroup’s provisions for loan losses marked …read more
Source:: Yahoo Finance
