Business & Finance
Business and Finance
Business and Finance
Thu, August 2, 2012 Research on Citigroup Inc. and PNC Financial Services Group Inc. - Money Center Banks Faced Second Quarter Hurdles
August 02, 2012 08:15 ET
Research on Citigroup Inc. and PNC Financial Services Group Inc. - Money Center Banks Faced Second Quarter Hurdles
JOHANNESBURG, SOUTH AFRICA--(Marketwire - Aug 2, 2012) - [ www.StockCall.com ] offers free research on Citigroup Inc. (
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Money center banks such as Citigroup Inc. and PNC Financial Services Group Inc. faced certain challenges in the most recent quarter, though there were some bright spots. Loan growth appears to have been a positive for many, aiding to boost revenues in the currently difficult macroeconomic environment. A number of industry players have also benefited from reduced reserves for bad loans in the quarter.
StockCall.com is an online platform where investors doing their due diligence on the Money Center Banks industry can have easy and free access to our analyst research and opinions on Citigroup Inc. and PNC Financial Services Group Inc. To see how companies in this industry have grown over the past years and how they are expected to perform in the future, please visit the link below.
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Citigroup for example saw a decline of 50 percent or $984 million from a year ago. For the second quarter Citigroup noted that in North America both revenues and profits rose, though other markets saw declines. Overall, Citigroup reported a 12 percent fall in net income and a 10 percent decline in revenue compared to the previous year. Investors and shareholders of Citigroup Inc. can simply register for our complimentary reports by clicking on the link below.
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Meanwhile, PNC lately reported a drop of around 40 percent in its second quarter net income to $526 million and a 0.6% rise in total revenue. A provision for residential mortgage loan repurchase obligations, the redemption of trust-preferred securities, and integration costs impacted PNC's earnings by $403 million. Register now to have free access to our report on PNC Financial Services Group Inc., and to do so please click the link below.
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