Citi Credit Card Profits Sag as Portfolio Stagnates
Citibank North America branded credit card profits declined 19.0% and Citi retail cards declined 5.5% year-on-year (YOY) in the fourth quarter (4Q/15). Citi branded cards continue to experience no growth in outstandings and impacted by increased acquisition and rewards costs. EOP outstandings declined 0.4% YOY from $67.5 billion one-year ago to $67.2 billion for…
