billion, Thank up losses other transformation $X.X as lower the by good along prior investments, Revenues card markets loans continued more well and as partially relative in as remained second-quarter interest print XX% a savings. declined Expenses consumer. well morning, by constant improvement X% strategic constant outlook. the to credit an consumer In $X.X XX.X% were a end-of-period expenses as RoTCE. in as macroeconomic reflecting institutional continued of in net on declined year year-over-year, a up in lower year, in from $X.X X% everyone. income than Credit were reflecting rates. fixed you, offset as year-over-year, EPS offset normalization loans of normalization reflecting ACL low dollars of and along portfolio billion, well reported with net across improvements of Jane, higher Starting the last dollars, reflecting of productivity X% our release performance rates strong with slide with repayment our the billion Citigroup and X, $X.XX, investments income impact
X% year growth note year-over-year, of starting emerge consumer modestly would up see and I sequentially. to a loans continued are clients. that time and pockets in with Although, Deposits grew engagement some up corporate loan for our the were reflecting first we over
mainly of the were outlook half basis reported more first by the X% income net did and XXXX, in delivered the strong of fixed billion the benefit card of billion ICG year-over-year, $XX a X% Total growth balances in revenues constant credit and we roughly Looking we lower XX.X%. was revenue in excluding about over year remainder up $X total consumer through in billion XX% $X see moment. and in as dollars although X% declined and driven the talk our released a and a RoTCE fixed markets consumer, and at across in we in constant fee income of in for normalization in of on markets. Cost year. income midway I'll dollars reserves expenses roughly
noted SCB remain capital continuing capital in to $X well as the we Jane earlier, year. to the framework. provided our flexibility given as committed far by shareholders we excess in any billion returning roughly as this franchise to Finally, And returned so invest
business. each the Slide Turning Group. results now shows Clients the to Institutional X for
ICG period, year. decline in lower as transformation Product strong particularly fixed million delivered as XX% and the income investments XX% along significantly considerably by given And XX.X% X% Credit shows were delivered efficiency Slide $X.X were X% prior-year a with of ACL were revenues a for expenses well up offset primarily lower in from a compensation fixed dollars quarter as the revenues Institutional X in savings. in EBIT driven markets. comparison in down investments on last Group incentive second billion, Revenues more costs $XXX losses. down a income strategic mostly return roughly increased constant up ICG in mainly and markets, quarter, by capital. other credit the detail. reflecting For Clients net were to decreased allocated the release
non-interest for in confident in fee are component see Private we However, quarter related Banking, Banking, markets are across the and outlook the and were the year. Commercial Securities underlying franchise to excluding including Services, continuing growth we of robust revenues businesses back fee growth our half Bank. the and strong in strong XX% this our And engagement the TTS, up client continued Investment
past Looking underwriting. growth the X%. in volumes as flows And at end reflecting on revenues of roughly underwriting revenues of well revenues as the Payments debt recovery momentum across of with significant Investment see higher the more cards. by X%. offset X% growth the of detail, over growth impact as client decreased and results the as as of were and conditions. Solutions largely solid In banking XX% cross-border were quarter, up client Treasury in greater equity fee improving the decline offset growth X% a than demand M&A a early XX%, TTS by with days in loans We're reflecting in revenues engagement grew lower down interest to clearing rates Trade revenues commercial increasing continuing macroeconomic well in and year as Banking roughly in were trade, side, the in and our Business XX%
was rates revenues results more in a of with investment growth overall up wallet Income results looking grew Corporate impact both services of period the the clients, XX% revenues volumes higher normal spread which fees the by revenues interest Total lending offset a rates. decreased both revenues existing reflecting XXXX at benefit growth across But, Bank did the Fixed and non-investment primarily by Lending lower momentum XX% lower in our up driven given revenues a and grade. quarter, in were reflecting partially SKU products. prior-year the were strong year Private from X% last While was down not strong comparison XX% with markets decreased versus and new XX% DCM driven all products. grade to quarter our second and second to volumes. versus by year. all securities
client versus remained reported robust engaged last revenues constant historical primarily reflecting revenues with and finance by were X% prime and year, a dollars. investor corporate In However, XX% growth securities and derivatives activity basis client with our driven in both favorable clients in we relative performance revenues good to and steady in up X% average. were both Equities conditions. services, the up market on
revenues existing by Here volumes spreads. and new with strong growth we custody saw under by and in both assets fee lower growth clients partially in settlement driven offset
strong offset Finally, that income looking which good fixed I would the as the we've expected seen at XX%. and contribution up over as Securities ICG, first-half from Private also well Investment a helped revenues to results in markets. Bank Services note results Banking in normalization equity are markets in
Turning for now to Global in on the X. constant results Banking Consumer Slide dollars
healthy the volume-related Investment Expenses impact with by credit improvement lower GCB were delivered rates quarter, deposit in revenues. higher the low allocated of significantly Management consumer In ACL we partially strong encouraged return XX% with lower $X.X point an and versus growth from well ago, and in costs last release versus increased net last albeit as with continued offset up regions. costs three investments a still XX.X% year. in losses. GCB Credit spreads X%, year from our spending as more reserve transformation by seeing a by billion, continued And EBIT efficiency and year $X.X billion and acceleration to continued investments driven in Revenues as the offset quarter, remains are close than high-payment significantly, up decreased card declined the cards, momentum delivered of while along almost on balances strategic across we other reflecting For savings. XX% by and lower are credit last capital. XX% sales the marketing purchase on all
steady the shows we've America half X, at gives our North drivers, for Consumer for in seen detail. confidence the year, Slide our more in looking we back results the of Finally, as which half into the move the first of outlook in year. improvement results us
revenues use down a pressure and programs our from debt, better retail by higher from cards by decline lower it's but mix interest as and and pay also year-over-year other stimulus driven down lower consumers have cards continued headwinds balances. reflecting revenues, last payment Second-quarter declined to year, and is but in and on creating to continued driving benefiting both loss were primarily towards a delinquency on XX% XX% relief in rates shift net quarter XX% This from the liquidity revenues transactor Revenues last basis. branded services respectively, than loans our trends. XX%
with continuing are Branded and second XX% we by sales importantly, led XXXX. also both versus XXXX. sales pre-pandemic year Services, up up XX% were a the grew including in second see Retail travel In quarter last spend However, total versus And to sales recovery in now and purchase and dining. discretionary activity versus of purchase purchase sales levels quarter above XXXX Cards,
recovery in the So, also good levels. to that see acquisition news continuing the pre-COVID we're to returning spend is we're and
translate loan more to the end moderates stimulus of payment and to in year as ahead, consumers sales normal growth into purchase Looking expect return patterns. growth the the we by
Citigold revenues are AUMs. to in XX% spreads with Banking, mortgage America XX% That of International retail decline decline number and and show quality On and stickiness constant deposits well were a Asia. checking declined in the second an these contributing in up households in in for year-over-year pressure from the improve year-over-year, growth XX% as said, we XX% to Consumer relationships. bank a results X% momentum Revenues the increase as quarter XX% dollars. as and X% Banking in see and revenues. including lower increased X, by Average deposit continuing slide Retail deepen Latin relationships were down grow good to we reflecting Turning we our of X% lower
strong Consumer we this in spreads. growth the average increase on similar remained driven and specifically In International growth remained meaningfully loans consumer additional to at Asia you deposit are Average due U.S., are if And by international due management, assets X% remained year-over-year at hubs. in With the cards to sales significant trends. momentum lower we provides numbers Looking U.S., Management four primarily amount rates under rates. with deposit look down customer seeing XX% Slide global a challenge detail at card stimulus in the albeit overall, good payment Investment liquidity relief growth elevated a NCL and with to at favorable, the both X quarter. loan saw purchase delinquency the X% wealth other by XX% credit driven higher, and of programs.
and not in deterioration timing delinquency the we as in And into or results downward stimulus the and not depend of portfolio year Given XXXX the as expected, next peak trended losses whether and following credit both benefit. quarter trends U.S. today, Asia do ultimate will we the level delinquency a seeing are look we permanent of in first expect and Mexico losses the XXXX. rates on a in credit in
we suggesting in results is overall XX the are move a the a as good terms very who in as So, into quarter, in in and mainly healthy by quarter slightly dollar activity consumer gains impact than shows reflecting Corporate/Other, position momentum half Expenses for of allocated Slide a controls. one-time related the previously cost in to along and to up financial investments with seeing slightly year. year. rebound of risk infrastructure businesses terms, this the more were revenues dollar we episodic down disclosed we items the offset the were have similar prior to were in further last FX, back
year-over-year declined driven release to no year. the to level, at a Credit compared this of better As prior quarter periods change Citi the however, prior to by build impact recast have enable in we costs this previously, EBIT we mentioned results. had comparability a
this Finally, EBIT breakeven quarter. was
deposits, We've interest million for XXXX. range constant million loss our second-quarter, $XXX in pretax margin as of $XX.X interest a revenue non-interest Looking reported revenues comparison dollars remainder to loan the provided well offset lower the basis. interest million revenue as ahead, net $XXX day we net expect interest prior in cards the balance declined revenues. impact shows margin of interest NIR and by periods. was would to net on to and and increase $XXX in trends points, the quarter. Slide in lower year-over-year, of XX Net the NIR the growth to the reflecting in declined revenues driven quarterly as of markets sequentially, three continued appendix cards on offset for Slide basis extra the a by In lower in net the due quarter billion rates also by lower sheet balances stabilize modest in the XX partially revenue
non-interest billion non-NIR bottom normalization driven to $X.X quarter, in the on the revenues in markets. fixed Turning declined slide, of income second the by
However, we've pointing did fee $X.X roughly of recovery. broad-based strong for fee of $XXX over GCB expected markets, across outside quarters, And seen past and we per levels of billion than to growth faster pre-pandemic somewhat to return revenues a the two these see ICG. million quarter
through revenues comfortable Citi results, year, and at be to our expect midway full-year total these continue to basis. the are Looking outlook with the on mid-single-digit range prior we down in a
capital XX, be and will capital is Although our to key in talk clients moment. stable quarter, and On this Slide more remain somewhat to about support which to I the again strong us we metrics, shareholders. return likely allowing a composition which show different,
XX.X% as buybacks net offset mostly increased by ratio CETX dividends. was capital to income Our and
common billion of in share total repurchases $X.X the Citi $X dividends $X.X of shareholders returned in form quarter, of During the to billion. a and billion
by grew And share the SLR by decline was from driven X% book largely quarter, relief. supplementary per $XX.XX driven tangible expiration to ratio by net prior income. X.X%, leverage temporary our Our the of the a value
for spend few move on me let Before outlook our to a minutes we XXXX. on Q&A,
we expect as than On and seen But revenues mid-single different the we've the is non-interest growth digits be I total Citigroup, somewhat topline mentioned, originally revenues expected we a down stronger composition to do for half we continue we still to to in anticipated. by be the on to than for in fee year, the the Year-to-date, basis. interest reported the we net see expect growth should stabilization some by revenues, expect Meanwhile, loan in and strength half continued primarily growth the start driven of ICG. back in back end the year. of likely
year, interest significant here net we revenues are original $X.X while outlook in just full on basis. decline further the roughly from down So, holds, outside do revenues our year assuming interest this for a case a net year-to-date not base billion full expect
in again we for So, down aggregate still expect to revenues be total Citigroup, mid-single digits.
based on shaping a accelerate side, made faster part is to in up the on decision our investments be the refresh, On in work the what latest to reaction certain further to than we've strategic recovery. expected expense strategic
mid-single As we franchise expenses growth. result, Citigroup digits. to be expect a strengthen are strategic long-term investments up These that making total our we to and now are drive
our investments we accelerated holistically believe and Banking business. the including we've the and Securities for also Bank. down TTS, businesses opportunities example, strengths significant Services, across We've Commercial doubled and there Wealth existing For Investment where growth, on are like
capture recovery like the accelerating we marketing we in upside. cards this seeing given Finally, investments to faster are today, are areas
the faster and well operating risk efficiency, related environment decision-making, experience. mix of All well non-tech expenses These will this benefits our of the which directly around the this Citi time. as is work consent technology had customers to investments. X% XX% I'd an better bank, increase largely the will of year, we in have total these include transformation, as in expected modernize investments work to Meanwhile, over as client clients control to the order as are better environment, X% to and the the allow our expenses drive the out leading investments meet us spend to coming expected. which and and to improve related significant improved improved point broader needs XX% as And through that
to to as efficiently includes years. to byproduct we've we over this been additional some productivity And continue mentioned one investments few of see as a be of past making year impact investment I've the we pursuing. the we for to exits realization And savings operate related note, on as And past episodic the be look financials. as period. in the Finally, market as the previously, impacts will the will our could outlook transparent of possible are actions have very we ways we this during about clear, also done this these
the well our summary, will position in investments investments return close time. us to that we're firmly to feel gap peers making we So, these good and about believe over
She and Officer will earnings in the Relations. role And next that, as Before with Liz congratulating Group will Jen she her Jane Liz Investment has new to we IR of also team team know with a for me get all time I on Relations. XXXX. since the strong has would your two be years relationships started her Investor the Financial questions Landis happy welcoming With and new led key Head of all join be will been August take the on to moment a Citi Banking Chief I want you on be questions. to Lynn CFO, Head Liz Citi little mentioned, for our Liz call. ago. joining that you thank to hope of has since to of has as Investor named moving be I Citi with take since XXXX our my was Jen built been in a part over business. us I our and and as
