- Q3 EPS $1.15 vs $1.12 exp
- Revenues $19.98bn vs $19.09bn exp
- Says will be exiting 11 consumer banking markets worldwide
- Pulling out of franchises in Japan, Hungary, Costa Rica, Guatemala, Guam, El Salvador, Egypt, Czech Rep
Looks like they’re undertaking another cost cutting exercise with those pullouts as they blame poor returns. Sales are already underway on some of those franchises
“While we have made progress optimizing these 11 consumer markets, we believe our global consumer bank will achieve stronger performance by focusing on those countries where our scale and network provide a competitive advantage.” said CEO Michael Corbat
