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Jane Fraser, CEO, Citigroup, performs at the 28th annual Milken Institute’s Global Conference in Bverly Hilton in Bverly -Hills, California, May 5, 2025.
Patrick T. Fallon | AFP | Gets the image
Citigroup reported about the second quarter results On Tuesday, led by analysts’ expectations, helping to increase shares that have already outperformed a wider market.
Citigroup’s net income of $ 4.02 billion increased by 25% compared to the same quarter last year. Here’s how the bank’s results compared to the expectations on Wall Rate:
- Profit: $ 1.96 per share against $ 1.60 per LSEG estimate
- Revenue: 21.67 billion against $ 20.98 billion.
After the Citigroup stock report, more than 3%increased.
The firm saw the growth of income in its business groups. Citigroup reported the total profit in the markets, which was higher than 16% compared to the same period a year ago. Stock income only increased by 6% a year, and increased by 7% compared to the first quarter.
Banking has become another bright place, with a profit of 18% in the second quarter of 2024, even with losing hedges.
“We improve the work of each of our enterprises to accept the share and attract higher profitability,” said Jane Fraser, CEO in a statement. “With 8%income, services continue to show why this high-return business is our value. The markets had the best performance in the second quarter since 2020 with a record second quarter. Bank revenues have grown by 18%, and we are still at the center of some of the most significant transactions.”
Recent results, registered on Tuesday, included a troubled market, which began in early April. This type of volatility can help increase profits in capital and fixed income in large banks, including Citigroup.
“I suspect that volatility goes to the function rather than the mistake of the new world order, and we will win from it,” said the Fraser on Tuesday’s call.
More negatively, Citigroup has reported a 16%increase in the cost of a loan, which is partially fueled by a higher net assembly in help for credit losses. The bank referred to the “deterioration” in the economic forecast against last year as the reason for this move.
Fraser added that the overall environment “turned out to be more elastic than expected,” but the bank sees a slowdown and clients’ admission.
The CEO also stated that the bank has made a “significant progress” in its transformation plan. Citigroup is distracted from international markets and bank announced dismissal in China in June. However, Fraser said there were no updates for the terms for the initial public proposal in Mexico Bank.
From ahead, in a presentation published on Tuesday, Citigroup said he expected now that the $ 84 billion revenue, which is the previous management of the bank. Fraser also noted that the bank is looking for use stable.
The results of a quarter of June came after the first half when Citigroup’s shares have exceeded a wider market and several universal banks. As of the closing Monday, Citi’s shares have reached 24%, and from April 14 increased by 38%, the day before the income report in the first quarter in the bank.
Citigroup raised a quarterly dividend to 60 cents per share with 56 cents Previously this monthAfter the latest tests on the stress of the federal reserve system.
