Mubasher: Citigroup posted a 7% year-on-year growth in net income during the second quarter of this year, while its revenue rose by 2% on gains from the initial public offering (IPO) of electronic bond trading platform Tradeweb, according to the bank’s earnings release.

The US lender generated $4.79 billion in Q2-19, compared with $4.49 billion in Q2-18, with earnings per share (EPS) climbing by 20% on year to $1.59.

Citigroup’s revenue came in at $18.76 billion in the period between April and June, compared with $18.47 billion in the same period last year.

Meanwhile, the bank group’s revenue gain were more muted on falls in trading and investment operations revenue.

“We navigated an uncertain environment successfully by executing our strategy, and by showing disciplined expense, credit and risk management,” Citigroup’s CEO Michael Corbat said.

Citigroup’s revenue from its operations in Asia recorded the biggest growth, rising by 4% year-on-year to $4 billion in the three-month period ended June, while its business in Latin America gained 3% to $2.63 billion.