Citigroup Inc reported early signs of improvement in fee-related businesses for the opening quarter, according to comments from CEO Jane Fraser at an RBC conference on Tuesday. Fraser said the bank’s investment banking fees are tracking a mid-teens percentage increase compared with the same quarter a year earlier.
Alongside investment banking, Fraser indicated that Citigroup’s markets business is also on track to record mid-teens percentage growth year-over-year for the first quarter. Those remarks suggest stronger activity in fee-generating operations across dealmaking and market services, as presented by the CEO at the industry event.
Fraser reiterated the bank’s public profitability objective, saying she feels good about Citigroup achieving a 10% to 11% return on tangible common equity (ROTCE) by the end of 2026. The statement framed the fee momentum and markets performance as consistent with progress toward that multi-year target.
On broader economic conditions, Fraser described the underlying global economy as doing "just fine." She also addressed recent stress events in specific corners of finance, noting that a few hedge funds have experienced hefty losses in rates. While acknowledging those concentrated losses, Fraser characterized recent private credit turmoil as not posing a systemic problem.
Fraser further weighed in on proposed regulatory changes affecting consumer lending, warning that a Trump administration credit card cap would "crush" access to credit. The CEO's comment framed the proposal as having materially adverse implications for credit availability.
The CEO’s remarks at the conference touched on revenue trends, balance-sheet targets and regulatory developments, while emphasizing that isolated losses in certain market participants do not, in her view, indicate a widespread threat to financial stability.
Contextual note: The statements above reflect the CEO’s descriptions of current fee pacing, markets activity, profitability targets and her assessment of selected credit market dislocations.