Citigroup is still working to unwind operations in markets such as Russia. Its preparations are still on track for an initial public offering of its Mexican business next year. "Results were healthy and demonstrated that the company continues to make progress on its transformation," said Ian Lapey, portfolio manager at Gabelli Funds, which hold shares in the bank. "There's a lot of risks out there," Citi's finance chief Mark Mason told reporters on a conference call. "The global economy seems to be resilient.