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The US banking group Citibank is expected to eliminate this year hundreds of jobs in various sectors of trading and fixed income services, Bloomberg said.
This came after the return of trading securities of major US banks in the first half of 2019 to their lowest level in nearly 10 years, and a few days after the announcement of Citibank International, profits increased by 7 % in the second quarter of this year, thanks to higher revenues and lower expenses, as opposed to higher borrowing costs.
Citibank net income for the second quarter increased 2% year-over-year, driven by higher global retail revenues. Net income for the second quarter was $ 4.8 billion, compared to $ 4.49 billion for the same period last year.
While revenues grew 0.2% to $ 18.76 billion, compared with $ 18.47 billion in the second quarter of last year.
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