NEW YORK, Oct. 14 (Xinhua) -- Citigroup Inc. on Tuesday reported a third-quarter net income of 3.8 billion U.S. dollars, up from 3.2 billion dollars in the same period a year earlier.
Total revenues rose 9 percent to 22.1 billion dollars, driven by growth across all five of the bank's core businesses and steady contributions from its legacy franchises.
Citi CEO Jane Fraser said that the services division reported its best quarter ever, up 7 percent, markets revenue rose 15 percent, while banking revenues jumped 34 percent, driven by stronger performance in investment banking.
In wealth management, she said that the bank recorded net new investment assets of 18.6 billion dollars, a quarterly record, and its U.S. personal banking unit achieved a 7 percent revenue increase.
The firm reaffirmed its commitment to disciplined growth and delivering sustainable long-term returns amid a challenging global environment marked by geopolitical uncertainty and fluctuating market conditions.
