Profit & Loss
Profits at Citibank’s European hub surge over $2.1bn after interest rate hikes
The subsidiary of Citigroup reported a major upswing in its interest income, driving revenue upwards
Profits at Citibank’s European hub, headquartered in Dublin, surged off the back of increased interest rates and continued robust lending activity.
Recently filed accounts for Citibank Europe show the lender recorded a near 70 per cent surge in pre-tax profits to more than $2.1 billion - up from $1 billion the year before.
Total revenues at the US investment bank’s European subsidiary increased 39 per cent to $4.2 billion last year - up from $3 ...
