Stock-trading growth amid global market turmoil helped Citigroup, like rival JPMorgan Chase, blow past Wall Street’s quarterly profit estimates.

Revenue in the business climbed 38 percent to $1.1 billion, curbing the effects of a 7 percent drop in bond markets, the New York bank said Friday. The gains combined with growth in consumer banking, Citi’s second-largest division, to push firmwide profit up 13 percent to $4.62 billion, or $1.68 a share, topping the $1.61 average estimate from analysts surveyed by FactSet.

Recommended Stories

8 biggest banks need $120 billion more to avoid bailouts, Fed mandates

US economic power buoys Wall Street after Thanksgiving week slide

Wall Street wins OK for payouts worth billions in Fed stress tests