Citigroup Inc. stated Thursday its third-quarter benefit rose 48%, after the financial institution launched one of the cash it had put aside for dangerous loans early within the pandemic.

The financial institution reported a benefit of $4.64 billion, or $2.15 consistent with proportion, up from $3.15 billion, or $1.36 a proportion, a yr previous. That beat the $1.71 consistent with proportion that analysts had anticipated, in line with FactSet.

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