It was "Super Tuesday" for a raft of US banks issuing second-quarter 2026 financial numbers yesterday, with most showing stronger figures in areas such as wealth management.

Citigroup has reported net income for the second quarter 2026 of $5.8 billion, rising from $4 billion a year earlier, on revenues of $24.8 billion ($21.7 billion Q2 2025).

Revenues increased by 14 per cent from the prior-year period, the bank said. A number of top-tier lenders, including JP Morgan, Wells Fargo and Bank of America, issued second-quarter numbers yesterday. 

Within the wealth segment, which includes the private bank, Citigold and Wealth At Work channels, Citigroup said net income rose 51 per cent year-on-year to $583 million in Q2. The private bank logged revenues of $769 million, up 5 per cent. Wealth revenues rose 13 per cent.

The rise in wealth revenues was driven by higher deposit spreads and investment fee revenues, primarily offset by the absence of an approximate $80 million gain on sale of an alternative investments fund platform, which occurred in the second quarter 2025, as well as the loss of fee revenue from the sale of the trust business in the third quarter 2025 and lower mortgage spreads, it said. 

Clients’ investment assets stood at $727 billion at the end of June, rising 14 per cent year-on-year, the US-listed banking group, which operates in multiple jurisdictions, said in a statement. 

The wealth arm booked net new investment assets of $16 billion in the quarter.

Wealth operating expenses of $2.4 billion increased by 3 per cent, driven by higher technology costs and performance-related compensation.

Since the start of 2026, shares in the New York-headquartered bank have risen 11.8 per cent, as of 19:00 UK time.