Citigroup Sees Growth in Investment Banking Fees

By Tatiana Bautzer

NEW YORK (Reuters) – Citigroup expects a 25% to 30% rise in investment banking fees for the fourth quarter compared to the previous year, while market revenue is anticipated to grow by a "high teens" percentage, according to CFO Mark Mason on Tuesday.

Mason further indicated that the bank expects to be on the "high end" of the revenue guidance for 2024.

> "The global economy has proven to be quite resilient," Mason stated at the Goldman Sachs Financial Services Conference in New York.

Mason highlighted that the United States economy is particularly strong, showcasing resilience among both consumer and corporate clients.

Regarding the spending habits of Citi's branded card clients, Mason noted that "between Thanksgiving and Cyber Monday, spending was up in the mid single digits" compared to the previous year.

He also mentioned that China's economy is demonstrating signs of stabilization and is beginning to rebound.