Citigroup has reported a 21% drop in corporate and investment banking income while Salomon Smith Barney continue to increase its market share.

The corporate and investment bank contributed $1bn (€1.1bn) of core income to Citigroup's overall earnings, compared with $1.3bn a year earlier. This represented a 21% decline from the first quarter of 2000 but a 74% increase from the dire fourth quarter.