Citi profit beats on surge in investment banking, services strength

Category: Finance

Citigroup exceeded Wall Street expectations for second-quarter profit, driven by a 60% increase in investment banking revenue and gains in its services division. The company's CEO, Jane Fraser, highlighted progress in executing the strategy and the benefits of the diversified business model. Despite facing regulatory fines and challenges, Citi is undergoing a significant overhaul to enhance performance and streamline operations.

Keywords: Citigroup, second-quarter profit, investment banking, regulatory challenges, overhaul

Source: Yahoo Finance

Update At: 7/12/2024

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