Reports

Private Bank Revenues Rise At Citigroup

Editorial Staff 16 July 2018

Private Bank Revenues Rise At Citigroup

The private banking arm of the group delivered a stronger set of revenue figures for the second quarter of this year.

Private bank revenues at Citigroup rose 7 per cent in the second quarter of this year from a year earlier to $848 million, driven by growth in clients, loans and investments, as well as improved deposit spreads, the US group announced last Friday.

For the banking group as a whole, it reported Q2 net income $4.5 billion, or $1.63 per diluted share, on revenues of $18.5 billion. This compared to net income of $3.9 billion, or $1.28 per diluted share, on revenues of $18.2 billion for the second quarter 2017.

Revenues at the bank rose 2 per cent from the prior-year period, driven by growth in both the institutional clients group and global consumer banking segments, partially offset by lower revenues in corporate/other due to the continued wind-down of legacy assets. 

The private banking arm of Citigroup has been publishing a number of white papers on specific topics in recent months, such as on cyber-crime and aviation, from a family offices perspective. 

 

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