Citigroup's return on tangible common equity rose in the first quarter, but stubbornly high expenses and costly technology investments may make it hard for the bank to hit its targets for this year and next.
The San Francisco bank is under pressure from investors to get out from under a Fed-imposed asset cap and to hire a new permanent CEO. But executives said Friday that thoroughness is more important than speed.
Small banks rise up against “onerous contracts and sometimes mediocre digital offerings”; Quarles warns banks to speed up preparations for Libor sunset.