Citi profit climbs on investment banking surge, services strength

By Reuters

Jul 13, 2024 12:07 am

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.

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