Citi has reported revenues for its private bank of $904 million for the first quarter of 2018, a year on year increase of 21 percent.
The US bank said the increase was due to “growth in clients, loans, investments and deposits, as well as improved deposit spreads.”
No other breakdown for the private bank was provided. The private bank sits within the Institutional Clients Group, alongside treasury and trade solutions, corporate lending, equity markets, securities services, investment banking and fixed income markets. The latter two businesses reported revenue decrease while the rest all reported increases. These increases offset the decreases leading to the entire division reporting revenues of $9.8 billion, up six percent.