LONDON, UK / ACCESSWIRE / October 17, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Citigroup Inc. (NYSE: C), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=C, following the Company's announcement of its financial results on October 13, 2017, for the third quarter fiscal 2017. The Bank's total revenue increased 2% on a y-o-y basis and exceeded market expectations. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

For three months ended September 30, 2017, Citigroup's total revenue increased 2% to $18.17 billion from $17.76 billion in Q3 FY16, driven by growth in Institutional Clients Group and Global Consumer Banking, partially offset by lower revenues in Corporate/Other. During Q3 FY17, the Company's net interest revenue decreased 34 basis points to $11.44 billion from $11.48 billion in the same period last year. Total revenue surpassed analysts' expectations of $17.7 billion.

During Q3 FY17, the Company's technology/communication expenses increased 4% to $1.76 billion from $1.69 billion in Q3 FY16. For the reported quarter, the Company's advertising and marketing expenses increased 3% to $417 million from $403 million in Q3 FY16. During Q3 FY17, the Company's total operating expenses decreased 2% to $10.17 billion from $10.40 billion in Q3 FY16.

During Q3 FY17, Citigroup's net income increased 8% to $4.13 billion on a y-o-y basis from $3.84 billion in Q3 FY16. For the reported quarter, the Company's diluted EPS increased 15% to $1.42 on a y-o-y basis from $1.24 in the same period last year. The diluted EPS surpassed analysts' expectations of $1.32.

Citigroup's Segment Details

Global Consumer Banking - During Q3 FY17, Citigroup's Global Consumer Banking segment's net revenue increased 3% to $8.43 billion from $8.16 billion in the same period last year. For the reported quarter, the segment's net income decreased 6% to $1.17 billion from $1.25 billion in Q3 FY16. During Q3 FY17, the segment's efficiency ratio was 52% compared to 54% in Q3 FY16.

Institutional Clients Group - During Q3 FY17, the Institutional Clients Group segment's net revenue increased 9% to $9.23 billion from $8.46 billion in the same period last year, driven by growth across Banking, Equity Markets, and Securities Services as well as the $580 million pre-tax gain on the sale of a fixed income analytics business. For the reported quarter, the segment's net income advanced 15% to $3.05 billion from $2.64 billion in Q3 FY16. During Q3 FY17, the segment's efficiency ratio was 54% compared to 55% in Q3 FY16.

Corporate - During Q3 FY17, the Corporate segment's net revenue decreased 55% to $509 million from $1.14 billion in the same period last year, reflecting the wind-down of legacy assets, divestitures and the impact of hedging activities. For the reported quarter, the segment's net loss was $87 million compared to net loss of $48 million in Q3 FY16. During Q3 FY17, the segment's efficiency ratio was 161% compared to 113% in Q3 FY16.

Credit Quality - During Q3 FY17, the segment's non-accrual assets decreased 19% to $4.98 billion from $6.13 billion in the same period last year. For Q3 FY17, the Company's corporate non-accrual loans decreased 15% to $2.05 billion from $2.42 billion in the same period last year.

During Q3 FY17, the Company's consumer non-accrual assets decreased 22% to $2.78 billion from $3.55 billion in Q3 FY16.

Balance Sheet

As on September 30, 2017, Citigroup's cash and due from banks decreased 3% to $22.60 billion from $23.42 billion on September 30, 2016.

During Q3 FY17, the Company's brokerage receivables increased 5% to $38.08 billion from $36.11 billion in the same period last year. As on September 30, 2017, the Company's brokerage payable increased 2% to $63.21 billion from $61.92 billion in Q3 FY16.

For the reported quarter, the Company's total investments decreased 7 basis points to $354.67 billion from $354.94 billion in Q3 FY16. During Q3 FY17, the Company's total assets increased 4% to $1,889.13 billion from $1,818.12 in the same period last year. As on September 30, 2017, Citigroup's total deposits increased 3% to $964.04 billion from $940.25 billion in Q3 FY16.

For the reported quarter, Citigroup's long-term debt increased 11% to $232.67 billion from $209.05 billion in Q3 FY16.

For the reported quarter, the Company's Common Equity Tier 1 Capital Ratio was 13% compared to 12.6% in Q3 FY16.

For the reported quarter, Citigroup's return on average common equity ratio was 7.3% compared to 6.8% in Q3 FY16.

Stock Performance

At the closing bell, on Monday, October 16, 2017, Citigroup's stock slightly declined 0.47%, ending the trading session at $71.77. A total volume of 21.12 million shares have exchanged hands, which was higher than the 3-month average volume of 16.23 million shares. The Company's stock price soared 7.30% in the last three months, 22.85% in the past six months, and 47.64% in the previous twelve months. Moreover, the stock rallied 20.76% since the start of the year. The stock is trading at a PE ratio of 13.83 and has a dividend yield of 1.11%. The stock currently has a market cap of $196.25 billion.

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