Strong consumer spending and revenues from investment banking bolstered second-quarter earnings, some of the nation's largest banking companies reported Monday.

Citigroup Inc., the largest U.S. banking company by assets, said profits from its consumer operations jumped 40%, contributing to a 9% rise in net income, to $2.4 billion. Earnings per share at Citigroup reached 70 cents, beating Wall Street's expectations by 6 cents.

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