Citi loan-loss provisions build to $2.1bn

Provisions for loan losses (PLLs) at Citi increased $145 million over the three months to end-June, largely fuelled by a ramp-up of reserves held to cover assets originated by the bank’s institutional clients group (ICG).

Total PLLs stood at $2.1 billion for Q2 2019, their highest level since Q4 2017. They are up 7% on Q1 and 16% on the year-ago quarter.

Net credit losses – amounts written-off minus recoveries – hit $1.96 billion from $1.95 billion the quarter prior, while the credit reserve

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: