Despite earning 10.4% more than in the second quarter of 2023, in the first six months of the year as a whole, Citigroup saw its profit fall by 12% compared to the first half of 2023.

The American bank Citigroup recorded an attributable net profit of US$ 3,217 million between April and June 2024, which represents an advance of 10.4% compared to the result recorded by the entity in the second quarter of 2023, as reported by the signs in a statement.

Despite the higher profits recorded in the second quarter, in the first six months of the year as a whole, Citigroup saw its profit fall by 12% compared to the first half of 2023, to US$6,588 million.

Citigroup's turnover in the second quarter increased by 3.6%, to US$ 20,139 million, which in the first half as a whole raised the bank's income to US$ 41,243 million, 1% more.

For its part, the entity's credit risk provisions totaled US$ 4,841 million until June, 27% more, including US$ 2,476 million in the second quarter, a figure 35.7% higher than that reserved in the same quarter of last year.

"Our results show the progress we are making in executing our strategy and the benefit of our diversified business model," said Jane Fraser, CEO of Citi.