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Turkish Bank Sale Drags Citi's Net Down 12 Percent

NEW YORK (AP) - Citigroup's net income fell 12 percent in the second quarter partly due to a loss on the sale of its stake in a Turkish lender. The income of $2.9 billion was still better than analysts were expecting. Citi is one of the largest international banks in the world and its results are often seen as a gauge of how the global economy is doing. Investors are particularly concerned about recent signs of a slowdown in China and India, two large markets for Citi. Citi's consumer banking business in Asia and Latin American barely declined by less than one percent.
  • Published in Turkey
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