0926 ET - Citigroup reports a jump in 1Q revenue with the aid of a 14% hike in investment banking fees. Total investment banking revenue increased 12% to $1 billion, driven by higher fees in its advisory business, partially offset by declines in equity capital markets and debt capital markets. Advisory fees were up 84% as the business gained wallet share, both overall and across numerous sectors, Citigroup says. The equity capital markets saw a 26% drop in fees as demand dried up for follow-ons and convertibles, while fees in the debt capital markets business were down 3% against a strong prior-year performance. (dean.seal@wsj.com)
(END) Dow Jones Newswires
April 15, 2025 09:26 ET (13:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.