Citigroup has followed JP Morgan in reporting a memorable fourth quarter for its advisory bankers but, unlike its Wall Street rival, traders in its fixed income desk also had cause to cheer.

Citi reported results for the final quarter and full year of 2015 on January 15, a day after Wall Street peer JP Morgan's own results showed a sharp rise in quarterly advisory revenues to an eight-year high of $622 million, but a steep fall in debt underwriting and drops across its trading income.