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Banking & Finance

December 25, 1991|From Times Staff and Wire Reports

Citicorp Says Results Are What It Predicted: Hoping to ease fears that have clobbered its stock price, Citicorp announced that fourth-quarter writeoffs and loan losses were in line with expectations. Contrary to marketplace rumors, the nation's largest bank said there was nothing in its finances to cause banking regulators to ask it to revise its expected results. It declined to release the figures yet, citing securities regulations. Wall Street seemed to welcome the news that Citicorp's results won't be worse than expected. Its stock rose 62 1/2 cents per share to $9.75 on the New York Stock Exchange.

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