Citi releases $2bn from loan-loss reserves as macro outlook brightens

- By Lorenzo Migliorato
- 15 Jan 2021

Having put aside over $10 billion of earnings over the first nine months of 2020 to cover expected loan defaults caused by the coronavirus crisis, Citi reversed course in the last quarter and released $1.8 billion back into income as its economic forecast improved.

The reserve release was equal to 11% of Q4 revenues. It almost entirely offset the impact of net credit losses, which totalled $1.5

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