Citi Private Bank saw $668 million in revenue in the first quarter of 2014, a 6% rise compared to the $629 million earned in 2013 Q1.
The increase was attributed to growth in investments and capital markets products.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Citigroup as a whole saw a relatively solid quarter, beating many expectations. Net income was valued at $3.9 billion, a slight rise on the $3.8 billion earned in the same period last year.
Michael Corbat, chief executive, said: "Despite a quarter that was difficult for our company, we delivered strong results. Both our consumer and institutional business performed well and we grew both loans and deposits while holding the line on our expenses. We reduced our deferred tax assets more than any other quarter since the crisis and drove Citi Holdings closer to break even."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
