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Investment banking rebound lifts Citigroup profits

Citigroup
Citi's debt capital division benefited from strong issuance activity in investment-grade assets while its equity business was also boosted by an increase in IPO activity.

A rebound in investment banking and equity trading boosted third quarter profits at Wall Street giant Citigroup.

The American investment bank’s profits hit $4.6bn in the last three months, up sharply from $3.1bn in the same period last year.

More to follow.