What drove C's EPS growth in Q3 2024?

Citigroup's (C) EPS growth in Q3 2024 was primarily driven by the bank's strategic initiatives and market conditions:

1. Strategic Partnerships: Citigroup's collaboration with Apollo Global Management Inc. (APO) to establish a $25 billion private credit program was a significant factor. This partnership allowed Citigroup to expand its offerings into the private credit market, positioning it as a one-stop debt shop. Such partnerships can lead to increased revenue and profitability by diversifying the bank's income streams.
2. Market Conditions: The private credit market has been growing significantly, and Citigroup's entry into this space at a time of rapid growth likely contributed to its financial performance. The bank's decision to embrace private credit reflects its strategy to capitalize on the increasing demand for such financing solutions.

In conclusion, Citigroup's EPS growth in Q3 2024 was driven by strategic initiatives like the private credit program with Apollo and favorable market conditions. These factors collectively contributed to the bank's financial performance during the quarter.