Citigroup profits slump 12pc but still beat estimates Revenues were $18.6bn, down 10pc from the same period last year. Analysts expected $18.8bn. Citi's shares rose 50 cents, almost 2pc, to $27.13 in pre-market trading. Overall, Citigroup's net income declined 12pc compared with the second quarter of 2011 to $2.9bn. As more of its customers, both consumer and commercial, paid back loans on time, Citi kept aside less for future losses - $27.6bn at the end of the quarter, compared with $34.4bn in the prior year period. Over the weekend, Citigroup said it will not seek to increase its dividend this year but may seek permission to raise it in 2013. "I believe we will be in good shape and have the capital to be able to do that by the end of the year," chief executive Vikram Pandit told The Sunday Telegraph in a rare interview. That's a decision that will have to be taken with our regulators, and we will have those conversations at the end of the year. The bank did not ask the Federal Reserve for permission to raise the dividend last month, when it submitted its latest capital plan. Citi currently pays a token amount of one cent per share every quarter. Pandit had previously promised shareholders a higher dividend earlier in the year. The Fed in March said the bank did not have enough capital to raise its dividend and withstand another financial crisis. That was a blow to Pandit, whose 2011 compensation package of $15m for last year and $10m retention pay was rejected by shareholders in an advisory vote the following month.