Citi says ‘confident’ transformation expenses will start to decrease next year

Says had positive operating leverage at each business and at the group level. Says executing strategy ‘with discipline and intensity’. Says making ‘significant progress’ on transformation. Says services business is ‘crown jewel’. Says saw ‘significant growth’ in branded cards. Says retail banking ‘had a very good quarter’. Says pleased with results of recent stress test. Says continues to focus on streamlining processes and platforms and driving automation. Says remains on track with data plan. Says laser-focused on innovation. Says continues to attract leaders to the firm. Says strength of the U.S. economy has been exceeding expectations. Says will remain ‘relentlessly focused’ on execution. Comments taken from Q2 earnings conference call.