Citigroup swings to profit on trading strength, surging deals-February 2024-www.financetom.com

Citigroup swings to profit on trading strength, surging deals

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Citigroup swings to profit on trading strength, surging deals

Jan 15, 2025 5:24 AM

Jan 15 (Reuters) - Citigroup ( C/PN ) swung to a profit in

the fourth quarter, fueled by strength in trading and a recovery

in dealmaking that drove up investment banking fees.

The third-largest U.S. lender reported a net income of $2.9

billion, or $1.34 per share, for the three months ended Dec. 31

on Wednesday. That compares with a loss of $1.8 billion, or

$1.16 per share, a year earlier.

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