The Profits of Citi Group have seen a downfall in the last quarter of the year that went by. The CEO of the Firm is Vikram Pandit and he has seen a drop in the profit levels to $3bn from the $4.4 bn in the past.

This has happened due to the fall in the revenues they collected from their trading business as well the rise in expenditure. The cost of processing of the business is rising day by day in order for the firm to compete with its rivals effectively. This has happened due to increase in demand and also due to general inflation in prices of goods and services.

The result that Citi gave was better than what was expected by the Wall Street analysts. They also show that there is a very uneven pattern in the recovery among the banks in America. The first quarter profits made by JP Morgan saw a rise of as much as 70%. The position of Bank of America is still unstable and weak due to its feeble mortgage business.

“Citi's results show the healing process has begun, but it continues to be slow across the industry”, said Michael Holland, founder of investment management company, Holland & Co.