Citi Cards Reports 13% Decline in Sales, 11% Decline in Accounts
Citigroup reported financial results for the third quarter of 2009 this morning. In its Citi Cards unit, end of period open accounts were 54.6 million, down 11% from 61.1 million a year ago. Purchase volume on its cards was $65.5 billion, down 13% from $75.5 billion. Managed net credit losses were 10.29% vs 6.39% a year earlier.





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