Citigroup will need to write down $9bn in second quarter, analyst predicts

Citigroup may suffer second-quarter writedowns of $9bn (£4.5bn), analysts at Goldman Sachs said yesterday. The analyst William Tanona said the banking giant, hit by more than $46bn of writedowns and credit losses in the past three quarters, may write down $7.1bn of collateralised debt obligations and associated hedges, and $1.2bn for other asset classes in […]