Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
Citigroup Inc.’s stock rose in premarket trading on Friday after the bank’s third-quarter profit topped Wall Street’s lowered expectations on strength in its core banking services business as well as a strong performance in its Treasury business.
With volatility in the bond market, Citi’s Treasury and trade solutions unit turned in its best quarter in a decade, she said. At the start of the third quarter, Citi was expected to earn $1.32 a share, which is 10 cents more than the estimate on Friday.
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