v3.25.2
COMMISSIONS AND FEES; ADMINISTRATION AND OTHER FIDUCIARY FEES
 6 Months Ended
Jun. 30, 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 June 30,Six Months Ended June 30,
In millions of dollars2025202420252024
Investment banking(1)
$1,006 $875 $2,043 $1,748 
Brokerage commissions(2)
701 622 1,405 1,241 
Credit and bank card income(3)
Interchange fees(4)
3,038 3,003 5,876 5,826 
Card-related loan fees179 147 342 277 
Card rewards and partner payments(3,325)(3,189)(6,460)(6,106)
Deposit-related fees(5)
338 341 666 681 
Transactional service fees(6)
381 359 734 699 
Corporate finance(7)
171 150 343 349 
Insurance distribution revenue(8)
79 78 160 162 
Insurance premiums(9)
30 24 53 49 
Loan servicing23 22 47 35 
Other124 123 243 230 
Total(10)
$2,745 $2,555 $5,452 $5,191 

(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 $45 million and $91 million of revenue related to variable consideration for the three and six months ended June 30, 2025, and $44 million and $86 million for the three and six months ended June 30, 2024, respectively. 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 earned primarily by Banking. 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 $(2,918) million and $(5,668) million not accounted for under ASC 606, Revenue from Contracts with Customers, for the three and six months ended June 30, 2025, and $(2,833) million and $(5,365) million for the three and six months ended June 30, 2024, respectively. 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 June 30,Six Months Ended June 30,
In millions of dollars2025202420252024
Custody fees(1)
$567 $529 $1,046 $1,042 
Fiduciary fees(2)
422 388 855 780 
Guarantee fees134 129 267 261 
Total administration and other fiduciary fees(3)
$1,123 $1,046 $2,168 $2,083 

(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 $134 million and $129 million for the three months ended June 30, 2025 and 2024, and $267 million and $261 million for the six months ended June 30, 2025 and 2024, respectively, that are not accounted for under ASC 606, Revenue from Contracts with Customers. These generally include guarantee fees.