Citigroup Inc (C) Q2 2024 Earnings Report

Citigroup Inc reported a robust quarter for Q2 2024, with net income reaching $3.2 billion, translating to earnings per share (EPS) of $1.52. The bank experienced a 4% increase in revenues, which is notable given the competitive landscape and ongoing regulatory pressures. Management emphasized operational efficiency and strategic transformation as key drivers of performance despite the challenges posed by recent regulatory actions concerning data quality management. Citi remains committed to improving returns, particularly within its U.S. Personal Banking division, and plans to increase its quarterly dividend from $0.53 to $0.56, signaling confidence in its profitability and cash flow generation. The outlook remains optimistic with expectations for an RoTCE of 7.2%.