As it continues to shed business units and streamline operations, Citigroup Inc. reported Tuesday that earnings more than doubled from a year earlier.
Revenue generated from the New York-based company’s brokerage and asset management businesses increased 25.5% to $340 million from the previous quarter, but sank from $1.6 billion a year earlier. In the past year, Citi [C] has been selling businesses, including its insurance and retail brokerage units as part of its effort to transform from a financial supermarket to a global bank that caters to wealthy customers.
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