India, Oct. 13 -- Citigroup, Inc. (C) reported Tuesday a net income to common shareholders of $5.25 billion or $2.85 per share for the third quarter, up from $3.75 billion or $1.86 per share in the prior-year quarter, driven by changes in the macroeconomic outlook and portfolio growth.
The provision for credit losses was $2.59 billion, reflecting $2.2 billion of net credit losses and a net reserve build of $369 million, up 6 percent from $2.45 billion last year, driven by changes in the macroeconomic outlook and portfolio growth.
Total revenues, net of interest expense, for the quarter increased 8 percent to $23.85 billion from $22.09 billion in the prior-year quarter, driven by growth in Services, Wealth, Markets and Banking, partially o...