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Citi dealmakers drive 78% surge in revenue as fixed-income sales slip
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Citigroup's dealmakers helped offset a slide in fixed income revenue in 2021, as investment banking fees surged to record highs.
The US bank made $6.7bn in investment banking fees last year, up by 35% and following rival JPMorgan with a sharp gain in dealmaking revenue. Its M&A unit was the biggest riser, with revenue up by 78% to $1.9bn during the period, while equity capital markets fees were up by 53% to $2.4bn.
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