"Costs linked to worsening consumer credit quality could have a meaningful impact on Citi's results for the rest of the year, Crittenden said." This is the key - what rate hike? Watch out BAC, FRE and AXP.
"UPDATE 1-Citigroup CFO sees big potential Q2 write-downs
NEW YORK, June 19 (Reuters) - Citigroup Inc (C.N: Quote, Profile, Research, Stock Buzz) could take substantial write-downs for subprime mortgages, leveraged buyout loans and other assets in the second quarter, the company's chief financial officer said on a call with investors.
In at least some of these areas, the write-downs are on track to be smaller than the first quarter, but could still be substantial, CFO Gary Crittenden said.
Costs linked to worsening consumer credit quality could have a meaningful impact on Citi's results for the rest of the year, Crittenden said.
The company is always willing to look at acquisitions, and will make them where it makes sense, but is focusing more on improving its performance, he said. (Reporting by Dan Wilchins; editing by John Wallace) "
In at least some of these areas, the write-downs are on track to be smaller than the first quarter, but could still be substantial, CFO Gary Crittenden said.
Costs linked to worsening consumer credit quality could have a meaningful impact on Citi's results for the rest of the year, Crittenden said.
The company is always willing to look at acquisitions, and will make them where it makes sense, but is focusing more on improving its performance, he said. (Reporting by Dan Wilchins; editing by John Wallace) "
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