Citigroup Files 'CITI STRATA' Trademark as Quarterly Earnings Reflect Mixed Results for U.S. Banks
Oct/15/2024
On October 7, Citigroup filed a trademark for 'CITI STRATA,' covering services like credit card administration, transaction processing, and credit consultation, aimed at enhancing consumer support. This move coincides with U.S. banks' quarterly earnings reports, which exceeded analysts' expectations despite some challenges. Citigroup's profits fell 9% to $3.2 billion, driven by increased provisions for credit card loan losses, though its investment banking revenue surged by 31%. Bank of America also saw a profit drop of 11.6%, while Goldman Sachs experienced a 45% profit rise, benefiting from a rebound in investment banking. Visualisation below shows detailed information about the new ‘CITI STRATA’ trademark.
