Date:19/07/2008 URL: http://www.thehindu.com/2008/07/19/stories/2008071955081500.htm

Business

Citi’s second quarter loss at $2.5 billion

NEW YORK: Citigroup on Friday posted a net loss of $2.5 billion for the second quarter n account of fixed income writedowns to the tune of $7.2 billion. On consumer banking operations in Asia, Citi said, “...higher credit costs were driven by increased losses and delinquencies in the unsecured loan portfolio, primarily in India.”