SOUTHEAST
Charles E. Buchholz has been promoted to senior vice president/group
Mr. Buchholz, who is based in Atlanta, is responsible for the charitable
SOUTHEAST
Charles E. Buchholz has been promoted to senior vice president/group
Mr. Buchholz, who is based in Atlanta, is responsible for the charitable
The New York-based company reported big increases in investment banking and trading revenue, offsetting a more muted performance by its wealth and asset management business.
On Wednesday, the financial giant reported second-quarter earnings per share of 89 cents, exceeding Wall Street's expectations, with help from consumer banking and wealth management. The company also said that expenses rose 5% year over year.
The Pittsburgh-based bank's average loans increased 2% from the prior quarter, its largest jump since the end of 2022.
A spike in the bank's noninterest income powered its better-than-expected net income and revenue second-quarter results.
Some last-minute drama has derailed planned votes on crypto and stablecoin in the House, but the political maneuvering isn't likely to improve the long list of criticisms that bankers have raised about the legislation before it heads to President Donald Trump's desk.
The global bank reported solid second-quarter results as executives maintain confidence in the bank's ability to achieve a return on tangible common equity of 10-11% next year. But an analyst said Citi's progress on reducing expenses will hinge on its ability to get freed from various enforcement actions.