Industry News

Citigroup says subprime loans will dent Q3 profits

$1.3 billion in losses expected on mortgage-related investments
Published on Oct 2, 2007

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by CareyBot

Citigroup Inc. said Monday it expects third-quarter profits will be off 60 percent from last year because of about $3.3 billion in write-downs and losses on leveraged loans, subprime mortgage-backed securities (MBS), and other investments. In securities and banking, Citigroup ...