Citigroup's profit tumbled 36% in the second quarter as weakness in the Wall Street bank's trading business blunted gains from its personal banking and wealth management unit.
Wall Street traders have hit a rough patch, joining investment bankers whose businesses have been weighed down for months by a slump in dealmaking.
Citi's markets revenue fell 13% to $4.6 billion on more subdued activity in fixed income and equities, while its investment banking fees plunged 24% to $612 million.
Net income sank to $2.92 billion, or $1.33 per share, in the three months to June 30, the bank reported on Friday. That compares with $4.55 billion, or $2.19 per share, a year earlier.
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