While credit costs and reserves for expected loan losses at Citi dragged net income for the first nine months of 2020 down by 51% compared with the same period in 2019, the institutional clients group (ICG), its investment bank, provided a bright spot.
Fixed income sales and trading revenues were 42% higher year on year over the first three quarters of 2020, equities revenues were up 18% and investment banking revenues rose by 16%.
Paco Ybarra, chief executive of ICG, does not beat his chest when Euromoney asks for his highlights of the year.
Thanks for your interest in Euromoney!
To unlock this article:
