Citigroup Profit Climbs 6.6% as Bond Trading Improves
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Citigroup Inc., the third-biggest U.S. bank, reported profit that beat analysts’ estimates as bond-trading revenue climbed and lending improved.
Third-quarter net income advanced 6.6 percent to $3.44 billion, or $1.07 a share, from $3.23 billion, or $1, a year earlier, the New York-based company said today in a statement. Excluding special items, profit was $1.15 a share, beating the $1.12 average estimate of 23 analysts surveyed by Bloomberg. The firm also announced plans to exit consumer banking in 11 markets.