Proprietary Report with Analysis on Citibank U.S. Credit Card Company Performance.
Citibank North America branded credit card purchase dollar volume (PDV) continued to soar in the first quarter (1Q/17), however net income dropped sharply, both driven by the 2016 Costco acquisition.
North America Citi-branded card
revenue increased 12.7% YOY to $2096 million for 1Q/17, compared to $2213 million in the prior quarter and $1860 million for the year ago quarter. For 2016, Citi averaged $2059 million per quarter.
North America (N.A.) Citi-branded card income declined by . . . .