Citigroup begins 2013 exceeding all benevolent expectations. In the first three months of the year, the third largest American bank recorded profits up 30% (3,8 billion dollars).
Excluding exceptional charges, earnings were $1,29 per share versus $1,17 expected. In the pre-market, the stock, which has already risen by 13% since the beginning of the year, is up by 2%. The investment banking and trading activities (where revenues increased 31% to $6,98 billion) and a $652 million reduction in reserves against potential loan losses.
