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Citigroup profit beats on strength in consumer banking, equity trading

Reuters 

By Sweta Singh and David Henry(Reuters) - Citigroup Inc reported a higher-than-expected quarterly profit on Friday, driven by strength in its consumer banking business and a surge in equities trading.Global consumer banking revenue increased 7 percent on gains in North America, Mexico and Asia. Equity markets revenue jumped 38 percent, gaining from increased volatility in the quarter.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 ...

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First Published: Fri, April 13 2018. 22:16 IST
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