Citigroup profit beats as credit card, trading revenue jump

North American branded cards, which account for a majority of consumer banking revenue, continued to be a bright spot for the bank, clocking double-digit revenue growth for the second straight quarter. Citi has been leveraging its robust card business to help grow deposits by pitching checking and savings accounts to card holders. The gains were driven by a 49% surge in fixed-income trading that offset a 23% decline in equities trading, where weak performance in derivatives weighed on results. …read more

Source:: Yahoo Finance