Citigroup Profit Jumps 42% as Trading, Dealmaking Power Best Revenue Quarter in a Decade
Citigroup reported a 42% jump in first-quarter profit to $5.8 billion, with revenue up 14% to $24.6 billion, its highest in a decade. Return on tangible common equity rose to 13.1%. Operating expenses climbed 7% to $14.3 billion, and non-accrual loans increased 25% to $3.4 billion. Shares rose 1.4% in mid-morning trading.