- Citing "rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters," Citigroup (NYSE:C) boosts Q3 legal accruals by $600M, thus cutting previously-reported income for the quarter to $2.839B.
- Income from continuing operations is cut to $0.88 from $1.08, and the efficiency ratio deteriorates by 300 bps to 66%.
- The Tier 1 Capital ratio falls 8 bps to 11.43%, and tangible book value per share slips to $57.53 from $57.73.
- Source: Press Release
- The stock's lower by 1.2% AH.