[ad_1]
Profit rose 2% to $3.55 billion, or $1.63 per share. Analysts had expected $1.23 per share.
Revenue rose 9% to $20.14 billion. Analysts had expected $19.27 billion.
In its markets operations, total trading revenue rose 10% to $4.48 billion. Fixed-income trading was up 14% on client volumes trading interest rates and currencies. Equities trading revenue was down 3%.
Revenue from Citi’s core business – providing banking services for big companies around the world and helping them move money – was up 13% to $4.72 billion, lifted by higher interest rates.
In corporate banking, which includes investment banking fees from mergers and selling stock and debt as well as lending to big companies, revenue rose 18%.
In its U.S. consumer bank, revenue rose 13% to $4.89 billion as credit-card spending volumes and fees climbed.
In the wealth management operation, which it is seeking to grow and is a key cog in a planned turnaround, revenue rose 2% to $1.9 billion.
[ad_2]
Source link
