NEW YORK -- Major banks reported lower third-quarter earnings, cuts in information technology spending and staff lay-offs following the September 11 attacks on New York and Washington. Analysts said the events accentuated an existing economic slowdown.
Citigroup, the world’s largest financial services firm, said in mid-October its core third quarter income was down 7% to $3.26 billion, or $0.63 a share, compared with the same 2000 period. The results included $502 million in after-tax losses
The week on Risk.net, July 7-13, 2018Receive this by email