US bank Citigroup has announced that it made profits of $3.94bn (£2.3bn) in the first three months of 2014, despite having a "difficult" quarter.
The bank's net income rose 4% compared with the same period last year.
Citigroup's profits were helped by narrowed losses on troubled assets held by Citi Holdings.
During the first quarter of the year, the bank discovered fraud in its Mexican subsidiary and failed a Federal Reserve stress test.
Chief executive Michael Corbat said the company was working with the Federal Reserve "to better understand their expectations".
"Despite a quarter that was difficult for our company, we delivered strong results," he said. "Both our consumer and institutional businesses performed well and we grew both loans and deposits while holding the line on our expenses."
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