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Citigroup’s first-quarter profit rose 42 per cent as geopolitical tensions fueled market volatility and trading revenue.
Citigroup reported its highest quarterly revenue in a decade at $24.6 billion for Q1 2024.
KEY POINTS
- Equities trading revenue at Citigroup rose 39 percent year-over-year, while fixed income trading rose 13 percent.
- Citigroup's investment banking fees in equity underwriting surged 64 percent, and M&A advisory fees rose 19 percent.
- Citigroup posted a 13.1 percent return on tangible common equity, exceeding its full-year target range.
COMPANIES
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