The large multinational bank Citigroup (NYSE: C) by and large reported solid third-quarter earnings, as the bank benefited from the higher interest rate environment and continued to make progress on a multiyear transformation plan.

But one weak point in the quarter was the bank's investment banking business, which has seen its revenue plummet on a year-over-year basis after a spectacular performance in 2021.

Yes, the entire investment banking industry is struggling, but Citigroup seems to be struggling more than its peers right now. Let's take a look at why this might be and if investors should be concerned.

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Source Fool.com