Citigroup Profit Rises As Banking And Securities Businesses Grow

Citibank
Citigroup's results surprised even the most liberal analysts, as profits jumped.

Citigroup Inc. (NYSE:C) said on Monday that its second-quarter profits rose to $4.2 billion, or $1.34 per share, topping Wall Street estimates as growth in securities and banking rose by 25 percent.

The bank reported revenue of $20.5 billion.

This quarter’s results are a vast improvement from a year ago when the bank recorded a net income of $2.9 billion, or $0.95 per share, on revenues of $18.4 billion for the second quarter 2012.

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