Citigroup Inc. (NYSE: C) reported its third-quarter financial results before the markets opened on Thursday. The bank had $1.35 in earnings per share (EPS) on $18.69 billion in revenue. That compared to the consensus estimates from Thomson Reuters of $1.28 in EPS on revenue of $18.54 billion. The same period from the previous year had $0.88 in EPS on $19.98 billion in revenue.

The bank’s loans totaled $622 billion when the quarter ended, down 5% from the prior year period, and down 1% in constant dollars. At the same time, total deposits were $904 billion, down 4% from the prior year period, and roughly unchanged in constant dollars.

During this quarter the book value per share was $69.03 per share, while the tangible book value per share totaled $60.07, representing 3% and 5% increases, respectively.

At the end of the quarter, Citigroup’s Common Equity Tier 1 Capital ratio was 11.6%, up from 10.6% in the prior year period, and the Supplementary Leverage Ratio was 6.8%, up from 6.0%.

The company repurchased about 36 million common shares and returned a total of $2.1 billion to common shareholders in the form of share repurchases and common stock dividends.

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Michael Corbat, CEO of Citigroup, commented on earnings:

The quarter had more than its fair share of volatility and our results speak to the resilience of our franchise globally. And despite revenue headwinds, we once again proved our ability to manage our risk, our expenses and our capital. We remain on track to deliver our full-year efficiency and ROA targets. I feel good about the quality and consistency of our earnings over the course of this year, as we have continued to make solid progress against our core priorities.

He added:

Citi Holdings was profitable again this quarter and its assets declined 20% year-over-year to $110 billion. Consistent utilization of our deferred tax assets helped us generate $14 billion of regulatory capital. So far this year we have returned over $4 billion of that capital to our shareholders in the form of share buybacks and common stock dividends. Our tangible book value surpassed $60 per share and our Common Equity Tier One Capital ratio increased to 11.6% on a fully-implemented basis. Challenging environments have become the norm, but the work we have done to make our firm simpler, smaller, safer and stronger has given us a resilient and sturdy platform from which to operate.

Shares of Citigroup closed Wednesday down 1% at $50.72, with a consensus analyst price target of $63.96 and a 52-week trading range of $46.60 to $60.95. In early trading indications on Thursday, shares were initially up 3% at $52.25.

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