Citigroup, the largest bank in the world, reported a 29% increase in first quarter net income at $5.27bn over the first quarter of 2003. The bank saw revenue growth in each of its nine businesses, including record profitability in its capital markets and investmentbanking income.
Bank of America, reported an 11% increase in first quarter earnings to $2.68bn. The results do not include profits for FleetBoston Financial Corporation, which it boughton April 1.
