April 13, 2018 / 12:20 PM / 9 days ago

BRIEF-Citigroup Reports First Quarter 2018 Financial Results

April 13 (Reuters) - Citigroup Inc:

* QTRLY ICG REVENUES OF $9.8 BILLION INCREASED 6%

* FIXED INCOME MARKETS REVENUES OF $3.4 BILLION IN Q1 2018 DECREASED 7%

* QTRLY EQUITY MARKETS REVENUES OF $1.1 BILLION INCREASED 38%

* ON TRACK TO MEET COMMITMENT CO OUTLINED AT INVESTOR DAY OF RETURNING AT LEAST $60 BILLION OVER 2017, 2018 AND 2019 CYCLES

* CITIGROUP SAYS WHILE “MARKET CONDITIONS HAVE BEEN UNEVEN SO FAR THIS YEAR”, Q1 RESULTS SHOW CO’S ABILITY TO DELIVER FOR BOTH CLIENTS, SHAREHOLDERS

* CITIGROUP’S ALLOWANCE FOR LOAN LOSSES WAS $12.4 BILLION AT QUARTER END COMPARED TO $12.0 BILLION

* QTRLY NET INCOME INCREASE DRIVEN BY HIGHER REVENUES, LOWER EFFECTIVE TAX RATE, PARTIALLY OFFSET BY HIGHER EXPENSES AND COST OF CREDIT

* QTRLY CITIGROUP ADJUSTED NET INCOME $4,620 MILLION Source text for Eikon: Further company coverage:

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