Citigroup reports record first quarter earning
Citigroup, owning company of Citibank, NA, reported first quarter revenue of US$22.18 billion and a record net after tax income for the three months ended March 31, 2006 of $5.64 billion.International earnings increased by 47 per cent, driven by record international revenues up 19 per cent, says a press release. Return on common equity was 20.3 per cent. Results include $846 million of compensation expense ($520 million after-tax) related to stock grants to retirement-eligible employees required under SFAS 123(R), and a $657 million tax benefit related to the resolution of a federal tax audit for the years 1999 through 2002, the release added.
|
|
