Citigroup Inc. posted third-quarter net income of $4.62 billion, or $1.73 per share, compared with net income of $4.13 billion, or $1.42 per share, a year earlier.
The S&P Global Market Intelligence consensus estimate for GAAP EPS for the third quarter was $1.68.
Total net loans stood at $662.57 billion, compared with $659.05 billion in the second quarter and $640.82 billion in the third quarter of 2017.
Total net deposits were $1.005 trillion, compared with $996.73 billion in the linked quarter and $964.04 billion in the year-ago period.
Citi's global consumer banking division net income was up 23% from the previous quarter and was up 34% from a year ago. The division's total revenues amounted to $8.65 billion in the third quarter, up 5% from the previous quarter and up 2% from last year. The gains were driven primarily by strength in the division's Latin America business, as well as an approximately $250 million sale of an asset management business in Mexico in the current period.
Global consumer banking revenue for Latin America in the third quarter was $1.67 billion, 21% higher from the second quarter, and 20% higher from a year ago. Net income for Latin America stood at $334 million in the third quarter, up 67% from the previous quarter and up 98% from the year-ago third quarter.
Net income for the institutional clients group stood at $3.12 billion in the third quarter, up 2% from a year ago driven primarily by the lower effective tax rate which more than offset the lower revenues as well as the higher cost of credit and expenses.
Third-quarter investment banking revenue was $1.18 billion, down 17% from the previous quarter, and down 8% from a year ago.