Citigroup reports Q3 adjusted EPS of $1.15 on revenues of $19.6bn

Financial powerhouse Citigroup has reported adjusted earnings per share (EPS) for the third quarter of $1.15.

The consensus estimate had been for EPS of $1.12.

Revenues came in at $19.6bn.

The lender has highlighted that it will exit consumer banking (GCB) in 11 markets, reducing its presence to just 24. The bank is to focus on those geographical regions in which it has "the greatest scale and growth potential".

Those countries in which it will maintain a presence currently account for 95% of the GCB division's revenue base.

The affected businesses include the consumer franchises in Costa Rica, Czech Republic, Egypt, El Salvador, Guam, Guatemala, Hungary, Japan, Nicaragua, Panama and Peru, as well as the consumer finance business in Korea.

As of 12:21 shares of Citigroup were registering an advance of 1.9% to $50.85.