Citigroup CEO Jane Fraser sees 'cracks’ emerging among some consumers as savings dry up
Publishing timestamp: 2023-09-29 13:19:00
Summary
Citigroup is monitoring signs of distress among its credit card customers, particularly lower FICO consumers. The bank has observed a shift in buying patterns as lower-end consumers try to save money. The CEO also mentions softening demand and the potential for a manageable recession. The article also discusses Citigroup's reorganization and upcoming job cuts and expense savings.
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Keywords: citigroup inc, breaking news: investing, business news, investment strategy, banks, breaking news: markets, breakingnewsglobal,
Source: https://www.cnbc.com/2023/09/29/citigroup-ceo-sees-cracks-emerging-among-consumers.html