Citigroup’s allowance for credit losses on loans climbed to about $17.6B in 3Q from $16.3B in the prior-year quarter. The net build was driven by its branded cards and retail services business, primarily from a rise in credit balances. The bank took on $1.64B in credit losses during 3Q, up 85% from a year ago and 9% from 2Q. The increase was largely coming from Citigroup’s personal banking and wealth management business, along with a smaller jump in its legacy franchises.