C Citi to increase dividend by 12%, launches $30B buyback plan
C Citi to increase dividend by 12%, launches $30B buyback plan
Story updates
12:09:16 PM UTC
SquawkNews
C Citi Q2 ROE improved 3.7 percentage points to 11.4%; CET1 capital ratio eased 0.7 percentage points to 12.8%. Services revenue climbed 18% to USD 6.4B; Markets revenue increased 17% to USD 7.0B, led by Equities up 45% to USD 2.3B. Banking revenue jumped 34% to USD 1.9B; Wealth revenue rose 13% to USD 3.2B, while U.S. Consumer Cards edged up 1% to USD 4.5B. Jane Fraser said Citi plans a 12% dividend increase; it launched a USD 30B buyback plan, returning about USD 5.0B in Q2. (more)
12:09:59 PM UTC
SquawkNews
C Citigroup posted Q2 adj. EPS $3.15 above est. $2.72 while revs rose 14.3% Y/y to $24.766B topping est. $23.737B aided by robust trading and strong investment Banking fees.Q2 FICC Sales & Trading Revs $4.71B (est $4.56B), Equities Sales & Trading Rev $2.3B (est $1.9B), Net Interest Income $17.13B (est $16.01B). Q2 investment Banking jumped 44% to $1.55B and total Banking revenues rose 34% to $1.92B. Also, Q2 Net interest Income +13% and Non-interest revenue +18%; raises dividend by 12%, launches $30B buyback; shares -1.3% premarket (recap)
C Citigroup posted Q2 adj.
EPS $3.15 above est. $2.72 while revs rose 14.3% Y/y to $24.766B topping est. $23.737B aided by robust trading and strong investment Banking fees.Q2 FICC Sales & Trading Revs $4.71B (est $4.56B), Equities Sales & Trading Rev $2.3B (est $1.9B), Net Interest Income $17.13B (est $16.01B).
Q2 investment Banking jumped 44% to $1.55B and total Banking revenues rose 34% to $1.92B.
Also, Q2 Net interest Income +13% and Non-interest revenue +18%; raises dividend by 12%, launches $30B buyback; shares -1.3% premarket (recap)