Citi Sees Growth Ahead From ‘High-End' Consumers

Citigroup’s fourth-quarter earnings results were part of a trend in banking reports Wednesday (Jan. 15), where consumer spending continued to drive momentum on cards, the macro backdrop was resilient, and, for Citi, there was particular growth in the movement toward digital payments and banking.The company’s branded credit card spending volumes were up 5% to $135 billion, according to a Wednesday earnings presentation. Average loans in the segment were$113 billion, adding 6% year on year. The 90-day delinq ...