New York, NY – Citigroup reported impressive first-quarter results on Tuesday, surpassing analysts’ expectations as its traders delivered higher-than-expected revenue. The bank’s profit climbed by 21% to $4.1 billion, or $1.96 per share, compared to the previous year, thanks to increased revenues and reduced expenses.

The companywide revenue rose by 3% to $21.60 billion, with growth noted in all five major divisions. CEO Jane Fraser expressed satisfaction with the bank’s performance, stating that Citigroup continues to earn credibility with investors. She emphasized her focus on executing the bank’s strategy, which includes a diverse range of businesses capable of performing well in various economic scenarios.

Addressing concerns about the US economy, Fraser reassured stakeholders that once trade imbalances and other structural issues are resolved, the US will remain the world’s leading economy with the dollar maintaining its status as the reserve currency.

Citigroup’s fixed income traders generated $4.5 billion in revenue, an 8% increase from the previous year, driven by active markets for currencies and government bonds. Equities traders also saw a 23% revenue growth to $1.5 billion as heightened market volatility and increased client activity led to more transactions.

In a quarter marked by significant volatility, rival banks JPMorgan Chase, Morgan Stanley, and Goldman Sachs also exceeded analysts’ estimates on equities trading revenue. However, Citigroup’s shares experienced a 10% decline this year amid broader selloffs in the banking sector related to President Donald Trump’s tariff policies.

Fraser’s leadership and Citigroup’s strong performance in the first quarter have positioned the bank well to navigate the challenges and opportunities ahead in the financial markets. Investors will be closely watching how the bank continues to adapt and thrive in a rapidly changing economic landscape.