Citigroup’s 1Q Earnings rise 2 Percent, beating forecasts

Banking conglomerate Citigroup said its first quarter earnings rose with a comparatively quiet 2 as investment banking earnings and higher interest .

The effects of citi were similar to those of Goldman Sachs, JPMorgan Chase and its Wall Street competitions, who both reported similar reductions in trading revenue in the past.

Citi said Monday that it earned $4.71 billion, or a gain of $1.87 per share, compared with a profit of $4.62 billion, or $1.68 per share, at exactly the same period one year ago.

While bond and currency trading revenue fared better , up 1% from a year earlier, citi reported that a decrease in stock trading revenue. Citi’s trading operations focus more on foreign and foreign exchange, which was explosive quarter compared to the bond and stock markets. The trading earnings of Citi was allowed by that in that division to perform better compared to its peers.

The bank did nicely submitting prices that are considerably higher for services and debt underwriting.

Citi’s consumer banking firm reported a 4% increase in earnings from a year before, as the bank was able to increase interest revenue while keeping costs in check. As with other banks with a customer banking company, Citi has gained from last year’s increase in rates of interest, which has enabled banks to charge for credit cards and credit.

Citi’s return on common equity, a measurement of how well a bank performs with the resources that it holds, was 11.9% in the quarter. This amount to be over 10 percent is generally aimed for by banks like Citi.

Total revenue across Citi has been $18.58 billion, down 2% from a year earlier. That is mostly in line with analysts’ expectations.