Warning About Money Questions

Mahalo Answers is a great place to start your research into Money questions, but it's not the final answer.

Mahalo Answers is not a substitute for informed professional advice. If you desire or require professional advice, please consult a qualified provider who is licensed in your state or country. You should always seek independent professional advice before acting on any opinion, advice, or information available on Mahalo Answers.

Next Question

Answered Question

davepamn

M$1 June 02, 2009 02:45 PM

What was Citigroup credit card loses in 2008?

What is Citigroup doing to switch from lose to profit?

Interesting Question? Yes (0) No (0)

In Money |
|
Report |
Share

RSS

Best Answer Chosen by Asker

onek

June 02, 2009 04:29 PM

There is no exact number, but Citigroup "lost $176 million in the second quarter packaging card loans into securities"
Source(s):
http://www.bloomberg.com/apps/news?pid=20601109&refer=exclusive&sid...

Asker's Rating:

• Will Citigroup become the first Nationalized biggest bank?

Helpful Answer?

(1)

(0)

Helpful: davepamn

Tip onek for this answer

Permalink | Report

Other Answers (1)

andreaxxje...

June 02, 2009 02:56 PM

In October of 2008, Citicard lost a total of $2.8 billion.

"Citigroup reported a $32.1 billion loss from continuing operations ($6.42 per share) for 2008. The results were impacted by continued losses related to the disruption in the fixed income markets, higher consumer credit costs, and a deepening of the global economic slowdown.
The net loss of $27.7 billion ($5.59 per share) in 2008 includes the results and sales of the Company’s German retail banking operations and CitiCapital (which were reflected as discontinued operations), as well as a $9.568 billion Goodwill impairment charge based on the results of its fourth quarter of 2008 goodwill impairment testing. The goodwill impairment charge was recorded in North America Consumer Banking, Latin America Consumer Banking and EMEA Consumer Banking."
--Citigroup's Annual Report
Source(s):
http://money.cnn.com/2008/10/16/news/companies/citigroup/index.htm
http://idea.sec.gov/Archives/edgar/data/831001/000119312509041237/d10k.ht

Helpful Answer?

(0)

(1)

Unhelpful: donaldmc

Tip andreaxxjean for this answer

Permalink | Report

Answer this Question

Ask a Question

Top of Page

Buy Mahalo Dollars with Credit Card or PayPal

Top Members

This Week All Time

buddawiggi
2nd Degree Black Belt
28118 Points
M$810.91 Earned
opher
Purple Belt
4949 Points
M$207.34 Earned
annelisle
Purple Belt
3456 Points
M$104.22 Earned

See All

Most Popular Tags

mahalo(1641)

twitter(958)

music(469)

iphone(468)

google(363)

food(328)

internet(310)

online(298)

beer(281)

money(267)

movies(266)

apple(253)

facebook(244)

aotd(235)

answers(231)

health(222)

video(210)

free(208)

dog(205)

windows(198)

See All

Welcome New Members

genge, December 01, 2009 11:55 PM
kowax, December 01, 2009 11:53 PM
alicereed, December 01, 2009 11:53 PM
ssdixon, December 01, 2009 11:50 PM
trueborn29, December 01, 2009 11:50 PM

Mahalo Dollars are the currency of Mahalo Answers.

Each Mahalo Dollar costs $1.

Once you earn more than 40 Mahalo Dollars, you can request to be paid via PayPal. Each Mahalo Dollar is currently worth $0.75 when paid out via PayPal. Learn More