By Sweta Singh and David Henry
But weakness in the lender's investment banking business was a sore point for investors. Citi's stock was down nearly 3 percent in afternoon trade as the bank reported a 10 percent drop in revenue from the business.
"I think that's going to impact all of those involved in investment banking, Citigroup included."
The results benefited from a busy trading desk as volatility rocked global markets amid inflation fears and heightened trade tensions, in contrast to a calm 2017.
Total revenue rose about 3 percent to $18.87 billion, while operating expenses rose 2 percent to $10.92 billion.
The rise in equity markets revenue offset a 7 percent drop in Citi's bigger fixed income trading business. Combined, the two were up 1 percent.
Return on tangible common equity, a measure of profitability, reached 11.4 percent in part to the company having had to mark down its equity value in the fourth quarter because of the tax law change.
Citi said in January it expected return on common tangible equity at 10.5 percent for the full year.
Shares of the fourth largest U.S. bank by assets were down 2.8 percent at $70.10. They have gained 23 percent in the last 12 months.
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