Citigroup's (NYSE:C) second-quarter profits rose 42%, and shares have been on fire lately. But is this the same Citi from the Great Recession, or is the underlying business stronger?

Motley Fool senior banking analyst Matt Koppenheffer explains how Citi has fortified its balance sheet and how the bank is dealing with a pullback in the refinancing business. With the stock on the rise, Koppenheffer believes there is still room to run.

Chris Hill has no position in any stocks mentioned. Matt Koppenheffer owns shares of JPMorgan Chase. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Citigroup, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.