Citigroup CFO Mark Mason said the bank expects investment banking fees and market revenue to rise by mid-single digits in the third quarter compared with a year earlier, signaling steady momentum across its core businesses. Speaking at a New York conference, Mason also noted that both revenue and expenses for the full year could surpass earlier guidance of $84 billion and $54.3 billion, respectively, but emphasized that the ratio between the two remains intact—keeping the earnings impact neutral to positive. He added that Citi is on track to continue buying back stock at its current pace, following the $4 billion repurchase plan announced in July after second-quarter results beat expectations.
Mason pointed to regulatory clarity on capital requirements as another positive, citing what he described as a more holistic approach by supervisors in reviewing models. He reiterated that Citigroup aims to list its Mexican subsidiary Banamex by year-end, though market and regulatory factors could shift the timeline to early 2026. With CEO Jane Fraser’s restructuring strategy showing traction and no signs of deterioration in credit quality, Mason underscored that the bank’s turnaround efforts remain on course.
