Citigroup (one of the biggest bailout recipients) reported a profit of $4.18bn in second-quarter.Submitted by go213mph on Mon, 07/15/2013 - 15:19
Citigroup profits rise 42%. Chief executive Michael Corbat hails 'well-balanced' results as bank posts profit of $4.18bn in the second quarter of 2013.
The bank reported a profit of $4.18bn compared with $2.94bn in the period a year earlier. Revenue's at the nation's third-largest bank were up 12% compared to the same period last year at $20.5bn.
Citigroup received one of the biggest government bailouts following the credit crisis and struggled to refocus its sprawling business after the financial collapse.