Citigroup today beat Wall Street forecasts by reporting net income of $4.3 billion in the second quarter.
It was a 12 per cent increase on the same period last year and a record for the company.
Income per share was $0.83, up 14 per cent on the second quarter of 2002. For the first six months of 2003, Citigroup's income from continuing operations increased 15 per cent to $8.40 billion, or $1.64 per share.
Citigroup chairman and chief executive Mr Sandy Weill described the performance as "outstanding." He added: "We also reached an important milestone this quarter, as our total stockholders' equity and trust preferred securities exceeded $100 billion".
Citigroup's consumer businesses continued to be a star performer delivering income growth of 18 per cent, led by 63 per cent growth in retail banking, which earned over $1 billion this quarter.
