Citi cuts costs and invests in technology

Citi benefited from continued simplification efforts and recorded cost savings in the third quarter. The $1.7 trillion bank’s total operating expenses fell 2% year over year to $13.3 billion, according to the bank’s 2024 third-quarter earnings supplement. However, the bank’s technology spending rose 1% year over year to $2.3 billion. Savings were encouraged (…)