Citigroup increased net profit by 2% in the first quarter


One of the largest US banks, Citigroup, reported that in the first quarter, its net profit amounted to 4 billion 710 million dollars, having increased by 2% compared to the same period last year. Profit per share amounted to 1 dollar 87 cents against the experts' forecast of 1 dollar 80 cents per share. Its value increased by 11% due to a 9% reduction in the average number of shares in circulation. During the earnings period, the bank bought 66 million of its own shares. Revenues amounted to 18 billion 576 million dollars, a decline in annual terms by 2%. The institutional client business has reduced revenue by 2%. The bank's income from operations with shares fell by 24%. At the same time, in the field of fixed income asset trading, revenue grew by 1%, while investment banking services showed an annual growth of 20%.

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