Bank Of America And Citigroup
The commercial real estate:Ongoing what is probable to be *the* subject of big bank earnings season, Citigroup Bank of America both statement they beat the psychoanalyst guesses, but they only did so because of big set aside releases." When you seem a little deeper at the continuing run-rate in the businesses, there are still ample reasons to be cautious and concerned.The Quarters that Were
Inside many compliments, Citi and B of A had very alike quarters. The operating revenue was down in the double numbers for both Citi and B of A. Both corporations go beyond the average analyst estimate, but did so almost solely on the back of releases of loan loss reserves (in other words, the companies are now approximation lower future loan losses, so that gets recognized as income). Interestingly, both companies had similar net reserve releases - Citi reported $1.5 billion, while B of A reported $1.45 billion.
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