Why Citigroup Earnings Exceeded Earnings from Bank of America and Chase

Citigroup reported that it earned $4.4 billion in the first quarter, its biggest quarterly profit in almost three years. According to this NYT article:

Citi’s 12 percent return was more than double Bank of America’s meager showing - and at first blush puts crisis-winner JPMorgan’s 8 percent to shame.

The article goes on to describe the reasons why Citigroup did so much better.