Citigroup reported second-quarter net income of $5.8 billion. This result represents a 45% increase over the previous year. Earnings reached $3.15 per share, surpassing the $2.72 analyst consensus. Revenue rose 14% to $24.8 billion, marking the bank's strongest quarterly performance in a decade.
Investment banking revenue jumped 44% during the period. Equities trading revenue surged 45%. CEO Jane Fraser noted that four of the bank's five core businesses achieved double-digit revenue growth.
Citigroup launched a $30 billion share buyback plan following the results. The bank also announced a 12% dividend increase.