Fitch Comments on Citi's (C): Q2 Results Shows Financial Progress in Key Areas
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Rating Summary:
31 Buy, 11 Hold, 2 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Fitch comments on Citi's (NYSE: C) Q2 results today, saying the company has shown continued progress in key areas and were generally in-line with expectations.
Loan portfolio quality, non-core asset levels and capitalization, increased deposits and a sufficient level of liquidity were all positives.
As far a securities trading and business banking, Fitch noticed a decline from a more robust 2011, but sees the overall market conditions being tougher. All together, Citi's results were solidly profitable and risk was reduced.
Citi still has a large level of problem loans, but quality loans are continuing to improve.
Citi's capital ratios continued to strengthen with notable progress on the Basel III front. Citi's Tier I common ratio of 12.7% (under Basel I) will likely continue to compare favorably to the average of the four largest U.S. banks (not all have reported yet).
Loan portfolio quality, non-core asset levels and capitalization, increased deposits and a sufficient level of liquidity were all positives.
As far a securities trading and business banking, Fitch noticed a decline from a more robust 2011, but sees the overall market conditions being tougher. All together, Citi's results were solidly profitable and risk was reduced.
Citi still has a large level of problem loans, but quality loans are continuing to improve.
Citi's capital ratios continued to strengthen with notable progress on the Basel III front. Citi's Tier I common ratio of 12.7% (under Basel I) will likely continue to compare favorably to the average of the four largest U.S. banks (not all have reported yet).
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