NEW YORK, Oct 13 - Citigroup's profit was broadly steady in the third quarter as it benefited from rising interest payments and surging investment banking fees, sending its shares up 3% in premarket trading on Friday.
"We announced consequential changes that align our organizational structure with our strategy and changes how we run the bank," CEO Jane Fraser said in a statement. The bank's trading unit also boosted revenue, while its division providing treasury and securities services to corporations brought in 12% more revenue.The third largest U.S. lender set aside more money to cover potential bad loans, even though delinquency levels were still low compared to historical levels.
Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses. The new structure is not yet reflected in the third-quarter results.
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