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COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES
 3 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES
Commissions and Fees
The primary components of Commissions and fees revenue are investment banking fees, brokerage commissions, credit card and bank card income, deposit-related fees and transactional service fees. See Note 3 for segment results and Note 5 to the Consolidated Financial Statements in Citi’s 2024 Form 10-K for additional information on Citi’s commissions and fees.

The following table presents Commissions and fees revenue:

Three Months Ended March 31,
In millions of dollars20252024
Investment banking(1)
$1,036 $873 
Brokerage commissions(2)
704 619 
Credit and bank card income(3)
Interchange fees(4)
2,837 2,823 
Card-related loan fees163 130 
Card rewards and partner payments(3,135)(2,917)
Deposit-related fees(5)
328 340 
Transactional service fees(6)
353 340 
Corporate finance(7)
172 199 
Insurance distribution revenue(8)
82 84 
Insurance premiums(9)
23 25 
Loan servicing24 14 
Other120 106 
Total(10)
$2,707 $2,636 

(1)    Investment banking fees are earned primarily by Banking and Markets. For the periods presented, the contract liability amount was negligible.
(2)    Brokerage commissions are earned primarily by Markets and Wealth. The Company recognized $114 million of revenue related to variable consideration for the three months ended March 31, 2025 and $108 million for the three months ended March 31, 2024. These amounts primarily relate to performance obligations satisfied in prior periods.
(3)    Credit card and bank card income is earned primarily by USPB and Services.
(4)    See footnote 1 to the Consolidated Statement of Income above for the description of a change in presentation. Interchange fees are presented net of certain transaction processing fees paid by Citi, primarily to credit card networks, for the periods presented.
(5)    Deposit-related fees are earned primarily by Services.
(6)    Transactional service fees are earned primarily by Services.
(7)    Consists primarily of fees earned from structuring and underwriting loan syndications or related financing activity. This activity is accounted for under ASC 310.
(8)    Insurance distribution revenue is earned primarily by Wealth and Legacy Franchises within All Other.
(9)    Insurance premiums are earned primarily by Legacy Franchises within All Other.
(10)    Commissions and fees include $(2,751) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three months ended March 31, 2025 and $(2,538) million for the three months ended March 31, 2024. Amounts reported in Commissions and fees accounted for under other guidance primarily include card-related loan fees, card reward programs and certain partner payments, corporate finance fees, insurance premiums and loan servicing fees.

Administration and Other Fiduciary Fees
Administration and other fiduciary fees revenue is primarily composed of custody fees and fiduciary fees. See Note 3 for segment results and Note 5 to the Consolidated Financial Statements in Citi’s 2024 Form 10-K for additional information on Citi’s administration and other fiduciary fees.

The following table presents Administration and other fiduciary fees revenue:

Three Months Ended March 31,
In millions of dollars20252024
Custody fees(1)
$479 $514 
Fiduciary fees(2)
434 392 
Guarantee fees132 131 
Total administration and other fiduciary fees(3)
$1,045 $1,037 

(1)    Custody fees are earned primarily by Services.
(2)    Fiduciary fees are earned primarily by Wealth and Legacy Franchises within All Other.
(3)    Administration and other fiduciary fees include $132 million and $131 million for the three months ended March 31, 2025 and 2024, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These generally include guarantee fees.