What Do Citigroup, Wells Fargo Results Mean for Banks?

The video discusses the earnings reports of Citi, JP Morgan, and Wells Fargo. Citi and JP Morgan showed resilience despite concerns over Brexit and credit losses, with Citi managing expenses well. Michael Corbitt's management at Citi is highlighted for its retrenchment strategy, which is now seen positively by investors. Wells Fargo, however, faced challenges due to its sensitivity to interest rates and lower growth in loans and deposits compared to JP Morgan.

In what ways did the rate environment impact Citigroup's performance?

What were the reasons for Wells Fargo's disappointing earnings this quarter?