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At Goldman and Citi, Where’s the Growth?

Cost cuts and share buybacks boosted results at Citigroup and Goldman Sachs, but that’s no way to grow a bank over the long term. In the first quarter, revenue fell by 2% from a year earlier at Citigroup and 13% from a year earlier at Goldman on tough market conditions. Total operating expenses declined by 3% at Citigroup and by 11% at Goldman. 1 billion at Citigroup and $1. 25 billion at Goldman contributed to decent earnings-per-share figures.

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