Citigroup's Stellar Q2: Banking on Trade and Investment Surges

Citigroup's profits surged by 25% in Q2 due to strong performances from traders and investment bankers. Despite trade uncertainties, markets rebounded, bolstering investment banking deals. Citi announced a $4 billion stock buyback and surpassed Wall Street's profit expectations. It's poised to achieve further growth in key sectors.

In a remarkable second-quarter performance, Citigroup reported a 25% profit surge, beating Wall Street's expectations. The growth was primarily driven by its traders and investment bankers, who capitalized on market volatility and lucrative deals.

Markets responded favorably, with Citi's revenue jumping 16% to $5.9 billion. Key sectors like healthcare and tech fueled the bank's optimistic outlook for the remainder of the year.

Despite the tariff uncertainties, Citigroup's investment banking and trading desks flourished, helping it announce a $4 billion stock buyback. Analysts predict continued momentum in dealmaking activities.

(With inputs from agencies.)