Core Viewpoint - Citigroup reported that revenue across its five major business segments exceeded Wall Street expectations, leading to a 9% year-over-year increase in total revenue [1] Group 1: Revenue Performance - All major business segments, including market services, investment banking, services, wealth management, and U.S. retail, achieved record results in the third quarter [1] - Equity and fixed income traders both surpassed analyst expectations, generating a combined revenue of $5.6 billion, which represents a 15% year-over-year increase [1] Group 2: Expense and Cost Analysis - Company expenses grew by 9%, primarily due to costs associated with a recently announced agreement related to the partial sale of shares before the listing of Banamex [1] - Compensation and benefits expenses also saw an increase [1] Group 3: Trading Revenue Breakdown - Fixed income trading revenue reached $4 billion, up from $3.6 billion in the same period last year [1] - Equity trading revenue amounted to $1.5 billion [1] - The market segment's prime brokerage business experienced a significant year-over-year growth of 44%, reaching a historical high [1]

格隆汇10月14日｜花旗集团：第三季度修正后利润为220.9 亿美元；固定收益、外汇及大宗商品销售与 交易收入为40.2 亿美元，预计为 37.4 亿美元；有形普通股权益回报率为8%；一级普通股资本充足率为 13.2%；调整后每股收益为2.24美元，而路孚特IBES预估为1.90美元；净利息收入为149.4亿美元，而路 孚特IBES预估为145.8亿美元。仍预计本财年调整后收益将超过840亿美元，预计年度支出将超过534亿 美元。 ...

花旗集团第三季度有形普通股权益回报率为8%；花旗集团第三季度一级普通股资本充足率为13.2%；花 旗集团第三季度调整后每股收益为2.24美元，而路孚特IBES预估为1.90美元。花旗集团第三季度净利息 收入为149.4亿美元，而路孚特IBES预估为145.8亿美元。 来源：视频滚动新闻 ...

LIVE Bank of America Profit Soars 23%, Continuing Sector's Strong Start to Earnings Season Last Updated: 1 day ago Citigroup Earnings Beat Wall Street Forecasts. The Stock Slips. By Tools Customer Service Customer Center Andrew Welsch Citigroup CEO Jane Fraser. (Win McNamee/Getty Images) Citigroup reported third-quarter earnings per share of $1.86 on revenue of $22.1 billion, beating Wall Street estimates of earnings of $1.73 on revenue of $21 billion. For the third quarter 2024, the bank reported earnings ...

Citigroup beat Wall Street revenue estimates across all five of its major business lines, a haul that’s helping the firm manage rising compensation costs and a plan to sell its retail unit in Mexico https://t.co/o2VqRRAgWx ...

Citigroup reported a rise in third-quarter profit, as all its divisions brought in record revenue, sending the bank's shares up about 1% in trading before the bell. ...

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Core Insights - Citi has announced plans to launch institutional crypto custody services by 2026, targeting asset managers and other institutions [2][4] - The bank has been developing its custody stack for 2-3 years, focusing on qualified safekeeping of digital assets with bank-grade controls and standard service level agreements (SLAs) [2][5] - Citi is also exploring the development of a stablecoin and enhancing its digital cash services, prioritizing tokenized deposits for instant treasury and payments [3][5] Group 1 - Citi's custody services will include bank-grade controls and segregation for digital assets [2] - The first phase of the custody service is aimed at asset managers and institutions, with a focus on secure safekeeping [2] - The bank's strategy involves a phased approach: custody first, followed by money rails, with issuance being optional [5] Group 2 - The move by Citi signals a growing acceptance of crypto within traditional finance (TradFi) [4] - If successful, Citi's custody solution could normalize crypto within the banking sector, making it feel less rebellious [4] - The development of these services is seen as the beginning of a broader trend of traditional financial institutions entering the crypto space [5]

Core Insights - Citigroup plans to launch digital asset custody services by 2026, following the trend set by other banks like JP Morgan and US Bank [1] - The bank's custody services will allow it to hold Bitcoin and Ethereum for asset managers and institutional clients, with development ongoing for two to three years [1][2] - Citigroup is also exploring the possibility of launching its own stablecoin, focusing on tokenized deposits for practical applications [2] - The bank sees stablecoins as potentially beneficial in regions with underdeveloped financial infrastructure and is considering custody and payment services for third-party stablecoins [3] - Citigroup forecasts that stablecoin issuance could reach $1.9 trillion in a base case and $4 trillion in an optimistic scenario by 2030 [3] - McKinsey estimates that around $250 billion in stablecoins have been issued to date, mainly for cryptocurrency transaction settlements [4] Industry Trends - Morgan Stanley has advised clients to allocate 2-4% of their investment portfolios to crypto, marking a significant shift in Wall Street's approach to digital assets [5] - The Global Investment Committee of Morgan Stanley released guidelines suggesting up to 4% crypto allocation in opportunistic growth portfolios [6] - Bitcoin reached an all-time high of approximately $125,700 before settling in the low $123,000 range, indicating strong market interest [6]

格隆汇10月14日｜花旗集团(C.US)：将黑石集团(BX.US)目标价从185美元下调至170美元。 ...