Citigroup Reports 42% Profit Growth Amid Fraser's Overhaul
Citigroup reported a 42% increase in net income to $5.8 billion in the first quarter, driven by Fraser's overhaul. JPMorgan Chase and Wells Fargo also posted strong results, though Wells Fargo's shares fell after missing revenue expectations. The US economy's resilience supported overall profit growth across major banks.
Topics: Banking Citigroup Earnings JPMorgan Chase Profit Growth Wells Fargo