The American bank Citigroup has presented the quarterly accounts this Friday and has recorded a decline of 36% compared to the earnings of the same period of the previous year. Therefore, it has obtained an attributable net profit of 2,915 million dollars (2,597 million euros) in the second quarter of 2023.
Revenues in the quarter experienced a decline of 1%, reaching 19,436 million dollars (17,318 million euros). By segments, that of institutional clients, the main component in the income structure, remained at 10,441 million dollars (9,303 million euros), 9% less.
For its part, operating costs rose to 13,570 million dollars (12,091 million euros) in the quarter, 9% more, while provisions for credit risk had an adverse impact of 1,824 million dollars (1,625 million euros). ) ) ), 43% higher than that recorded by the entity a year earlier.
Personal banking and wealth management provided 6,395 million dollars (5,698 million euros), 6% more, although the ‘Legacy Franchises’ consumer area rose 1%, to 1,923 million dollars (1,713 million euros). . The corporate division will leave 677 million dollars (603.2 million euros).
Regarding the financial health of the group, its CET1 ratio, which are the highest quality assets, reached 13.3% in the second half, an increase of 1.3 points from the previous year. The financial return (RoE) was 5.6%.
Citigroup obtained in the first six months of 2023 a net profit of 7,521 million dollars (6,701 million euros), while the turnover between January and June stood at 40,883 million dollars (36,427 million euros) and the costs to face possible risks totaled 3,799 million dollars (3,385 million euros).
“Despite a challenging macroeconomic environment, we have continued to benefit from our diversified business model and strong accounts,” said Citigroup CEO Jane Fraser.
