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Citigroup CFO expects investment banking fees and market revenue to grow by mid-single digits rate in Q3
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Citigroup CFO expects investment banking fees and market revenue to grow by mid-single digits rate in Q3
Sep 9, 2025 11:09 AM

NEW YORK, Sept 9 (Reuters) - Citigroup ( C/PN ) Chief Financial

Officer Mark Mason said at a conference in New York that

investment banking fees and market revenue are expected to rise

by mid-single digits in the third quarter compared to a year

earlier.

Mason also said the global revenue and expenses for the year

may be higher than the guidance of $84 billion and $54.3

billion, respectively. But Mason added the proportion between

expenses and revenue did not change, so the impact of the higher

numbers would be neutral to positive to earnings.

In July, the bank beat estimates for second quarter

earnings, fueled by rising revenue in banking, markets and

wealth management. At the time, the results drove shares to

their highest since 2008, and the bank said it planned to buy

back at least $4 billion in stock.

On Tuesday, Mason said the bank was on track to keep buying

stock at the same rate.

The second quarter showed CEO Jane Fraser's turnaround is

gaining momentum after she sold businesses and simplified the

bank's structure. Citigroup ( C/PN ) expects to be ready to list its

Mexican subsidiary Banamex by the end of the year, Mason said,

but added that market conditions and regulatory approvals may

delay the transaction until early 2026.

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