Citigroup Inc.'s losses from consumer defaults on mortgage and credit-card loans could rise through the rest of the year, Chief Financial Officer Gary Crittenden said Friday and, if so, "could have a meaningful impact on our results for the remainder of the year." Citigroup on Friday reported second-quarter earnings that were better than most analysts expected. But during a conference call to explain the results, the bank's CFO cautioned that the worst of losses from consumer loans could well be far from peaking.
"Credit costs in our consumer business may rise through the year," said Crittenden.
