Citi CEO says delivering on strategy of improving shareholder returns
Citi CEO Michael Corbat said, "Despite an unpredictable environment throughout the quarter, we continue to deliver on our strategy of improving shareholder returns through consistent, client-led growth while also executing against our capital plan. Our Global Consumer Banking franchise performed well in the quarter, showing solid underlying revenue growth of 4% and an EBT increase of 17%. In the US, Branded Cards increased revenues by 11% and we saw continued deposit momentum through both digital and traditional channels. Our Institutional Clients Group also had balanced performance, with solid results in both the market-sensitive and accrual-type businesses. The backbone of our leading global network, Treasury and Trade Solutions, had strong revenue growth of 7% in constant dollars."