The Economic Times

US stocks: Citi profit jumps 40% with higher investment banking, services and wealth revenue

Citigroup has reported a remarkable 40% jump in its third-quarter profits year-over-year, despite some declines in other areas. Trading revenue took a hit, influenced by unstable market conditions, while investment banking saw a modest 9% year-on-year increase but fell substantially from the last quarter. Credit card profits faced declines due to heightened costs and loan loss provisions. Citi is wrapping up a multi-year restructuring as it aims for renewed growth.