Citi EQD revenues hampered by low volatility

Citigroup has reported a drop in earnings for the second quarter of the year, with net income, at US$2.9 billion, down 36% year-on-year (YoY). Revenues fell by one percent to US$19.4 billion. In banking, the long-awaited rebound in investment banking has yet to materialize, making for a disappointing quarter - Jane Fraser, CEO Markets revenues, at US$4.6 billion, were down 13% YoY driven by both fixed income and equities, relative to an exceptional quarter last year coupled with low volatili