BUZZ-Citi climbs as lender swings to Q4 profit

Shares of Citigroup C.N rise 3.8% to $76.31 premarket

The third-largest U.S. bank swung to a profit in Q4, fueled by strength in trading and a recovery in dealmaking that drove up investment banking fees

Co reported Q4 net income of $2.9 billion, or $1.34 per share, vs loss of $1.8 billion, or $1.16 per share, a year earlier

Quarterly markets revenue jumped 36% to $4.6 bln

Wall Street dealmakers have seen a revival in large mergers and acquisitions, as well as initial public offerings, after an almost three-year dry spell

Citigroup shares up 4.4% so far this year following a 36.8% surge in 2024

(Reporting by Jaiveer Singh Shekhawat in Bengaluru)

((JaiveerSingh.Shekhawat@thomsonreuters.com;))