Solid cost containment helps Citigroup to better than expected profit
Citigroup added loans and deposits in the second quarter, allaying concerns that a weaker economic outlook is hurting consumers’ ability to borrow
New York — Citigroup beat analysts’ estimates for quarterly profit on Monday, as a tight lid on costs and strength in consumer lending helped the third-largest US bank counter weakness in its trading business.
New York-based Citi is the first major bank to report second-quarter earnings. Wall Street titans JPMorgan Chase, Bank of America and Goldman Sachs are scheduled to report later in the week...