Tradeweb, pre-tax in of from last million EPS roughly investment gain X% on three, second by a year, net Starting per grew in and Mike, billion $X.X share. good including income you, $X.XX benefited the Thank slide which on $XXX everyone. our quarter morning,
the outstanding by a driven diluted well a EPS in decline lower XX%, as our of shares average mostly by as Excluding gain, tax grew $X.XX rate.
well Revenues overall of year, our $XX.X businesses billion growth grew in as Tradeweb as gain, reflecting in in and consumer results solid the from X% accrual prior ICG. the
by However, revenues on well this growth in hedges was losses our partially lower Lending as loan mark-to-market portfolio. offset as market-sensitive ICG in Corporate
and credit Expenses driven resulting in increased, franchise and savings quality legacy declined year-over-year than credit in trends as in of cost portfolio a while as quarter volume And with corporate stable. the our leverage. of growth remained more overall as by continued in XXth well X% seasoning wind-down by assets, efficiency operating credit growth positive volume investments our normalization along the consecutive were offset of loan
Our of XX.X%. basis RoTCE we and assets an XX for was points quarter, generated return on the
Our rate than outlook. was XX%, the our slightly effective tax quarter for better
expect be We half between XX% XX% back the to and rate for our year. the of tax
of contribution with billion, legacy grew constant $XXX deposits by assets, to and was and loans our In dollars, businesses X% end-of-period X% our from consumer X% institutional as franchises. partially offset year-over-year grew growth wind-down core the both in
as as results of legacy of in for businesses headwinds market-sensitive along revenues, wind-down lower half first which at the consumer, momentum Looking offset accrual assets. in we continued well the with the continued saw ICG, of the XXXX, helped to
loan for was leverage on by positive mark-to-market portfolio. XX.X% Lending we of largely in while half. decline did from was losses EPS operating our by in Corporate the Tradeweb And X% the benefit first offset a the hedges RoTCE XX% our and expenses. delivered grew this with We gain, impact
with Revenues were Global each to The for all margin in grew in growth X% from driving Turning up X business momentum Consumer results consumer in Slide shows continued Banking X% while second operating showed continued earnings. dollars. constant expenses the contribution business. now and regions the quarter.
last on operating in growth we first the in excluding Hilton net margin X% revenue year, in year, XX% resulting half of income. the the gain and For expenses growth X% growth generated consumer flat
results the shows in consumer more X America detail. North Slide for
quarter up billion year. were Second revenues $X.X from last of X%
and relationship integrated, capabilities our launched to digital enhance new to for more foundation During the the products model. quarter, multi-product lay we a continued
net to as in than continued compared momentum of improve with more first the year. doubled deposit last XXXX inflows deposit Our half
branch customers and digital out and in of growing channels. with through retail traditional are existing We our footprint and deposits both and bank both new
of with total and enhanced did outside retail digital, a banking who second first new not in client double branch sales bringing $X opening [Audio previously our more to card generated half were to $X the in sales further the two-thirds of process deposit customers Nearly that proprietary card account our billion. offers products have footprint billion In deposit quarter, leverage existing with designed over and our products. including our rewards across relationships, Gap] these us. banking deepen We relationship for we cash our and deposit launched relationship-based and both than digital
its continue product Results from maintaining a strong of out products launch features will credit digital to our we lending second more the in new new year. Loan January, originations tripled be loan as And first to quarter, from positive, the profile. also following to than and half continue the while Flex the second roll in
these while our still new, initiatives again, progress. about many are So good feel we of
of Turning to flat now the businesses. billion revenues individual the year-over-year. Retail $X.X results roughly were of banking
banking the by lower commercial deposit X% retail offset was revenues spreads banking. as stronger mortgage, deposit in benefit partially of Excluding grew volumes
this management grew to accelerated year-over-year under but X% in quarter growth revenues a balances we looking cost. by assets aggregate, declined customer deposits higher basis, deposit on year-over-year. at mostly and stable funding Mortgage were Average X%. sequential And reflecting again largely
interest revenue Revenues in branded grew XX%. sales of continue about to engagement up generate interest-earning Turning earning up this X% drove year-over-year billion of in strong X% remained as net quarter we cards. interest growth growth This with NIR a loans Client $X.X improvement percentage percent this points in year-over-year. our to and quarter. XXX or purchase to a balances balances
as look of expect level interest balances. to maintain of to around to spreads, we forward, earning we mix our broadly Looking would non-interest-earning this remain current
balances we loan a from in to quarter, back loan Average prior And we year. we half improve into drag to saw growth as as growth the improved this smaller the continue the expect to year. of go X% promotional
offset America grew up expenses as consumer growth driven higher by expenses revenues contractual volume-related efficiency offset year-over-year of largely were by $X.X savings. partner X% X%, investments services retail billion Total were loan North Finally, and for payments. partially higher by
XX% Turning first the quarter-over-quarter second portfolios. consistent loan seen to year. grew were flat and in Card rates reflecting the rates NCL to essentially the by both prior in in half and pattern seasoning the credit. Net year NCL cards with credit the year-over-year growth card than years, losses of lower half expect we be of
cards XXX branded points is with outlook both Our basis at to XXX points services full XXX basis in and and for performance year-to-date respectively. retail NCL our to rate line XXX
On slide show Banking dollars. results Consumer in X, International for we constant
the of X% last or of $X.X sale total billion management consumer America asset excluding grew revenues our an X%. the quarter In year. underlying on impact basis X% grew Second of business Latin revenues
deceleration in this year-over-year. was a Loan muted reflecting seen we're profitability GDP environment as we and quarter strong growth the this seeing industry and again and current deposit order a overall returns our maintaining carefully growth where managing slowdown credit in importantly, in volumes. But growth in discipline expense to and preserve Mexico in are EBIT again quarter
by a Turning or gain, driven in investment a recovery X% higher mostly year-over-year deposit as to Asia, quarter excluding revenues in consumer revenues as onetime revenues. well the X% second grew
versus X% see underlying last in clients XX% new in net growth drivers to in growth our continue Asia with and We wealth management strong money Citigold year. growth in
second the as investment year. a to operating credit efficiency down total, quarter, In in reflecting volume-driven the X% savings LLR spending X% was more and and offset were expenses growth build cost relative of than prior down smaller
to again stable this regions. global consumer continued NCL the shows X rates our trends Slide favorable delinquency in detail. quarter be across more Credit with credit broadly and
billion quarter impact was group as quarter. were revenues to Tradeweb credit in roughly on momentum further on hedges businesses banking billion now Turning revenues $X.X in offset losses and more continued institutional the the flat tightened the $X.X X%. from in revenues down clients gain, accrual as market-sensitive X, X% lower spreads the the mark-to-market negative slide were of than Total second the excluding down of and loan by
in volumes reported with of strong dollars trade and Trade engagement. Solutions spreads client deposits, & X% and were up reflecting constant in Treasury growth transaction revenues $X.X continued billion as X%
by of last by a decline Investment strong outperforming year underwriting. driven in offset strength market The was partially M&A, in billion $X.X from debt Banking revenues primarily declined wallet. year, the XX% performance continued prior while
up spread new lending, million revenues both higher Lending growth lower million compression. AUM $XXX and volumes, higher existing cost. of were hedging partially with offset were And revenues reflecting deposits, Bank and drove and X%, of clients, X%, $XXX Private which Corporate down reflecting spreads by
remained has Services by where Services last in our decline was businesses client challenging and been year, more of muted. revenues environment the markets excluding $X.X down in offset billion Tradeweb growth the and gain, has investor Markets were activity Securities as X% Total Securities from than the
year-over-year, rates. corporate client X% Fixed well dollars, in up X% by Services reflecting Tradeweb, a trading Equities environment brokerage, revenues were constant activity. were down partially in activity revenues as higher equities reported prime Income X% Excluding derivatives. particularly X% And Security revenues client client declined in in the reflecting activity basis offset strong and cash rates lower as and higher challenging reflecting on
Total stable more million operating efficiency -- a corporate and trends basis. than Credit declined X% year-over-year sequentially reflecting cost non-accrual in offset $XXX investments sequential in in normalization both $X.X was a of and loans quality savings as our of portfolio. remained credit expenses loan billion And declined year-over-year on this quarter, total growth. credit volume-driven
contributions improved half network market-sensitive Securities most TTS decline first solid higher largely the the of by and ICG, at operating margin Services, year X% our business. returning as by offset businesses, Looking in our notably our were from the in growing
upon seeing making that continuing it for on strength we're to build our the business by in our focused businesses do the world. We're more large network multi-national easier around clients to
the in investing new forward. our client-facing processes, going are in with out initiatives cross-border technology the flows as have of platforms, our digitize a growth our strong are and across we and further pipeline support seeing we we franchise on-boarding We multi-national enhance clients, that roll improve to capabilities and
largely treasury revenues Slide Corporate/Other. Revenues X from year, gains X% were as last offset legacy million of and assets. for by higher $XXX the wind-down shows of increased results
mostly down XX%, were wind-down income pretax and than million prior this quarter, Expenses somewhat was reflecting the the better $XX our outlook.
a modest in expect we the for ahead, of still would XXXX. loss Corporate/Other remainder quarterly pretax Looking
growth quarter Slide interest and this roughly total margin mix, trading-related with FDIC reflecting higher shows and of loan loan constant $XX net NIR, along year-over-year, the the revenue interest surcharge. dollars, billion In $XXX XX revenue trends. as absence nearly well by of million favorable net higher as grew our a rates,
one additional largely million, interest trading-related roughly along NIR, $XXX On the in a sequential day net grew basis, reflecting by revenue with higher quarter.
quarter. points of cash dollars. However, X%, XXXX, than margin first by revenues constant reflecting in declined in billion the offset as by our more deposit $X.X revenue the roughly benefit was interest sequentially, growth five strong interest net balances, higher net grew basis of the our year-over-year half In or
Looking ahead the to our for we of been small. but of XXXX as set had year, one assuming outlook were U.S. a benefit relatively NIR back the in the reminder, rate remainder increase when in expected hike we the rate January, mid-XXXX,
as last of of rate remains had estimated hike As each to begin assumptions. out keep recognize month, And this that cuts we rate rate now but mind later that that quarter, may small. as of we impact taken early our see in we relatively the cut
this a million basis depend cut deposits and course, basis, each that We rates continue the other for of on to factors. environment competitive on point $XX revenues U.S. in will but, XX impacts roughly by quarterly estimate
but So, carefully, this about calls. our billion interest growth equates we net expect year managing and to on sensitivity of we've constant as are previous rate earnings the in continue rate to environment roughly of revenue $X evolve, dollars, discussed to we which to generate X% continues growth
In On first revenue. by a come you all to XXXX, quarter. non-interest we year. revenue basis, expect continue million, to to the of non-interest to $XXX declined revenue to the roughly in year which non-interest the total half flat first Turning of saw in close full prior
the in well revenues in was the mostly the a to prior in quarter, Hilton last strong quarter, the revenues, losses non-interest pressure equities on the This the underlying second year, we prior the sale year very mark-to-market offset comparison by along as In drag were decline first while with of entirely year. markets hedges. in by portfolio the from was on gain loan gain, driven saw it flat so as Tradeweb
on be we third as a million Looking will of ahead $XXX to XXXX, reminder, XXXX second of to in comparing consumer, a business of gain half the had Mexico. sale the our management asset we quarter in when the
activity with in the more we quarter, even we've we businesses, should so similar and organic in far growth should this favorable see fourth this investor year. rest to a markets able be to headwind the accrual muted, revenues consumer seen However, than offset of our and what if client remains across comparison
year-over-year income In driven and share per the we quarter, On sequentially show our slide at lower a capital count, and XX, to book capital XX.X%, offset buybacks our our CETX $XX.XX, by $X.X key income dividends. by common share and share we tangible -- billion show second value of metrics. as capital net increased was stable net XX% our ratio was total
of the And, across franchise market consumer in industry. generally ICG. pressure in proved reflected are our half growth make the To some seen of revenue and businesses, progress the we accrual From our revenue XXXX. some businesses continued our sensitive results have conclude, in while momentum has we've solid first continued we challenging perspective, businesses, for of broader in seeing the while a environment
in revenue driven in revenue modest by in growth believe, more continue can year-over-year non-interest generate We trends XXXX, and revenue growth net to continued interest XXXX. versus stable we
incremental first productivity far On had $XXX Expenses headwinds half, us end exceeded believe revenue have in the track XXXX. expected to expense $XXX our the $XXX down in on million investments were given by incremental the this year, so that year-over-year savings, side, million the for savings prudent putting was faced. achieve roughly full to we million year the of upper net we we and our
be infrastructure on but continuing the to And expect this of the the expense a on uncertain, we will discipline the XXXX. to XX% with second target and of year. to environment, essential half RoTCE operating first look our all to basis the sequential we Looking in investments while do lower to controls, franchise, from expenses environment half is a the while continued levers full for year make will in revenue our we continue investments maintain to of relative focus including return ahead,
Q&A, accrual spend should we markets clients our we in quarter into overall the reflect me continued ICG, banking our outlook our network revenues investment go as expect a growth businesses environment. specifically. across moments we let market to for global serve our the continue few In target year-over-year and Before third on and
North consumer revenue driven Cards. solid in On should by the side, continue, Branded America, growth U.S.
the although results so continued continued Asia, And year, included of strong underlying mentioned, earnings. year-over-year on somewhat On growth. basis, far remain growth to expect last revenue this the the asset we to similar revenue an expect our muted, In will in sale I Mexico, in third just management be growth gain we comparing seen likely quarter pre-tax which a as we'll year, business.
Citigroup, total should decline and of year-over-year, continue to growth and ICG. normalization sequentially should reflecting expenses cost in modestly volume credit For continued grow
to Mike With are and questions. any take that, happy I
