Citi CFO Says Co Is Focusing On Data, Ensuring Quality To Reporting; It Has Put In Place Review Of Resources On Regulatory Initiatives; Bank Is Reviewing Resources To Regulatory Initiatives That Are Behind Schedule; Continue To See Good Debt Capital Markets Activity; Sees Investment Banking Fees Up 20% YoY; Sees Q3 Markets Revenue Down 4% YoY
Portfolio Pulse from Benzinga Newsdesk
Citi's CFO highlights the bank's focus on data quality and regulatory initiatives. The bank is reviewing resources for regulatory projects that are delayed. Despite a 4% YoY decline in Q3 markets revenue, investment banking fees are up 20% YoY, and debt capital markets activity remains strong.
September 09, 2024 | 2:55 pm
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NEUTRAL IMPACT
Citi is focusing on data quality and regulatory initiatives, reviewing resources for delayed projects. Investment banking fees are up 20% YoY, but Q3 markets revenue is down 4% YoY. Debt capital markets activity remains strong.
Citi's focus on data quality and regulatory initiatives indicates a strategic shift, which is crucial for compliance and operational efficiency. The 20% YoY increase in investment banking fees is positive, but the 4% decline in Q3 markets revenue offsets this, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100