Citigroup second-quarter trading revenue trends tracking competitors: CEO

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A view of the exterior of the Citibank corporate headquarters in New York, New York

NEW YORK (Reuters) – Second-quarter trading revenue trends at Citigroup Inc <C.N> were “in line” with recent descriptions by competitors, Chief Executive Mike Corbat said on Thursday.

Corbat spoke at an investor conference after executives from JPMorgan Chase & Co <JPM.N>, Bank of America Corp <BAC.N> and Goldman Sachs Group Inc <GS.N> said at conferences on Wednesday that trading revenue was down from a year ago on lower volatity and weaker client activity.

Corbat said the bank will give more details in a presentation later this month. JPMorgan described a decline so far of about 15 percent. Bank of America described a 10-to-12 percent decline.

Year-earlier results were boosted by trading ahead of the United Kingdom’s vote on Brexit.

(Reporting by David Henry in New York; Editing by Jonathan Oatis)

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