secwatch.observer — SEC 8-K summary
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Issuer:     CITIGROUP INC (C)
CIK:        0000831001
Form:       8-K
Filed at:   2024-07-12T23:59:59+00:00
Accession:  0001104659-24-079431
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Citigroup Q2 net income $3.2B ($1.52 EPS), revenue $20.1B up 4%; dividend raised 6%
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- Net income $3.2B vs $2.9B YoY; diluted EPS $1.52 vs $1.33; revenue $20.1B (+4% reported, +3% ex-divestitures).
- Operating expenses down 2% to $13.4B; cost of credit up 36% to $2.5B on higher card net credit losses.
- CET1 ratio 13.6% (up 10 bps QoQ); dividend increased 6%; returned ~$1.0B in common dividends.
- Banking revenue +38%, Equities +37% (derivatives), Services net income +21% to $1.47B.
- Included ~$400M Visa B exchange gain; FRB/OCC civil money penalties in expenses.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/831001/000110465924079431/0001104659-24-079431-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/831001/000110465924079431/c-20240712x8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-079431

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