Citi Private Bank revenues went up by 4%, or $20m, from the second quarter of 2012 to $590m.

This also constitutes an 8% year-on-year increase, or $44m, from the third quarter of 2011.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The strong growth in private bank figures has been attributed to a surge in lending and deposits in North America.

 

Mixed results in S&L

The numbers are in sharp contrast to other areas of Securities and Lending at Citi.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Lending has performed poorly, with a 68% and 81% decrease in quarterly and year-on-year rates respectively.

However, the figures are still behind investment banking, which posted quarterly and year-on-year rates of 8% and 26% respectively.

The private bank did not report net income or updated asset under management figures.

 

Ex-WM CEO appointed CEO of Citigroup

Meanwhile Mike Corbat, previously CEO of Citi’s global wealth management unit, has been appointed CEO of Citigroup.

He replaces Vikram Pandit who has been CEO since December 2007.