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By the time it reported its third-quarter numbers in October, Citi was showing year-to-date net income of $13.7 billion, 14% ahead of the first nine months of 2017.
Its big stock repurchase programme is now taking down a substantial percentage of shares outstanding – 8% lower by October than 12 months earlier – so earnings per share were ahead by an eye-catching 24% compared with the first three quarters of 2017.
With underlying revenue growth of 4% across its two main business divisions, global consumer banking (GCB) and the institutional clients group (ICG), and its efficiency ratio down to 57.3%,
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