Will Citigroup's Credit Cards and Commercial Real Estate Drag It Down Going Forward?
Like all of its peers, Citigroup (NYSE: C) is adjusting to the new Current Expected Credit Loss (CECL) framework and announced big provisions for future loan losses when it reported first-quarter earnings last week. Citi's incremental provision for loan losses was higher than most of its peers, and its current provision for loan losses is higher as well. Aside from the provisioning, Citi reported strong numbers to start the year, especially in the Institutional Group. But non-performing loan percentages are creeping up in the credit card portfolio.
Let's take a deeper dive into this banking giant's earnings and see what else they might show about financial performance over the course of 2020.
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Source Fool.com
