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Citigroup profit holds steady as investment banking fees jump

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Citigroup's profit was broadly steady in the third quarter, fueled by rising interest payments and surging investment banking fees. The bank's net income...

NEW YORK - Citigroup's profit was broadly steady in the third quarter, fueled by rising interest payments and surging investment banking fees.

CEO Jane Fraser announced a sweeping reorganization last month that will disband ICG and give her more direct oversight over the company's businesses. The new structure is not yet reflected in the third-quarter results. Rivals Wells Fargo and JPMorgan Chase also reported higher quarterly profits on Friday, boosted by a rise interest payments.NEW YORK -Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of commitments.

 

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