JSM Financial: Citigroup posts positive $4.4 billion first quarter profits.

April 19, 2010 - PRLog -- After a tumultuous journey through the global economic crisis, Citigroup Inc, the New York headquartered financial giant which boasts the world’s largest financial services network, may finally be reaching the light at the end of the tunnel, JSM Financial has learned.

In a recent statement the firm’s Chief Executive Vikram Pandit said that while the firm seemed to be recovering the road ahead may still be rocky.

"Realistically, we do not expect our performance to follow an invariable trend-line upward," JSM Financial believes he was quoted as saying. He did however point out that the long term prospects were “bright”.

John Gerspach, the banks CFO said that a key variable in the banks future performance would be the performance of corporate and investment banking which can fluctuate over time. The attainable value of Citi Holdings, an arm of Citigroup that JSM Financial has learned is to be sold, will also affect the banks financial success in the long term.

The improved performance of the third largest U.S. bank was, in part, due to a profit of $865 million in the banks special asset pool, the arm of the bank responsible for assets such as subprime mortgage securities which are rapidly being sold off. It was this unit which a year ago lost the firm almost $4 billion.

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