Citigroup made $4.2bn in net income in the second quarter, ahead of analysts' estimates and better than last year, powered by strong performance in trading and investment banking.
Citigroup's capital levels rose sharply after receiving the proceeds from the sale of its stake in Smith Barney, the retail brokerage, to Morgan Stanley. The bank reported a ratio of equity to risk-weighted assets of 10 per cent under the new Basel III standards – better than most peers in the US and around the world. |
