Citigroup announced today that third-quarter operating profit rose 6 per cent amid gains in its consumer unit.
But revenue at the largest US bank fell short of analysts' forecasts.
Expenses increased, while revenue was little changed. At its investment banking unit, both profit and revenue declined. The bank's shares fell in pre-market electronic trading.
Net income from continuing operations rose to $5.3 billion, or $1.06 per share, from $4.99 billion, or 97 cents, a year earlier. Revenue was $21.42 billion, while operating expenses rose 5 per cent to $11.94 billion.
Net income for the New York-based company fell 23 per cent to $5.51 billion, or $1.10 per share, from $7.14 billion, or $1.38, reflecting a year-earlier $2.12 billion gain from the sale of Travelers Life & Annuity to MetLife.
Last week The Irish Timesreported that profits at its IFSC-based subsidiary Citibank Europe jumped by more than 40 per cent last year, to €264.75 million from €187.8 million.
Citibank Europe, formerly called Citibank Ireland Financial Services, provides corporate and investment banking services to clients around the globe.
Citibank has other operations here and employs 1,400 people in Ireland.
