Citigroup Showing Progress

Along with second-quarter results, Citigroup raised its outlook for this year's net interest income and seemed positive on its efficiency savings plan. For 2018 net interest income, the company believes that it can reach $3.4 billion compared with a previous outlook of $2.7 billion. This is based on a positive change in loan mix, continued low retail deposit pricing during the first half of the year, and inclusion of an expectation for a September increase in the federal-funds rate. As the company has progressed along its $2.5 billion efficiency savings plan, it now believes that it may overachieve that goal. Part of this extra savings may go directly to shareholders or be reinvested in the business.

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