Citigroup

New Capabilities

Launched multi-market instant payments on the Swift payments scheme

Banks moved cross-border payments in days, not seconds, for most of modern finance, held back by local accounts in every market. On October 2, Citi became the first bank to go live in multiple markets on the Swift (Society for Worldwide Interbank Financial Telecommunication) payments scheme.

Updated 2 days ago

Money Moves

Co-coordinator of the $29.6 billion loan

ByteDance, the company behind TikTok, has secured a $29.6 billion loan from nearly 30 banks. It's the second-largest dollar-denominated loan in Asia this year, behind only SoftBank's $40 billion March raise.

Updated Sep 5

Money Moves

Best quarterly revenue in a decade; ROTCE of 13.1% exceeded Fraser's medium-term target

The six largest American banks wrapped up first-quarter 2026 reporting with combined net income of $47.3 billion, with trading floors thriving on Iran war volatility even as the outlook darkened. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion, while Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share, its highest in nearly two decades. Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The banks announced roughly 5,000 job cuts, using the profit windfall to trim headcount rather than expand.

Updated May 31