Citi profit climbs on investment banking surge, services strength

Net income climbed to $3.2 billion, or $1.52 per share, in the three months ended June 30, the third-largest US lender said on Friday. That compares with $2.9 billion, or $1.33 per share, a year earlier.

The results come two days after US regulators fined Citi $136 million for making "insufficient progress" in fixing data management problems identified in 2020. Regulators also required the lender to demonstrate it was putting enough resources toward those efforts.