Livin For The Citi (NYSE: C)

Citigroup the third largest bank in the United States reported net income of $2.2 billion or 0.07 a share. Excluding a one time loss for the sale of their Student Loan Corp earnings would have come in $600 million higher. Shares are currently up to $4.02 in the premarket or 1.8%.

Citi which has been continuing to sell non core assets over the last two years is finally seeing a turnaround in its core businesses. The company has updated its Tier 1 Common Ratio at 10.3% and it has a tangible book value of $4.44 a share. The company was also able to release loan loss reserves due to the improving credit quality.