Highlights Citi is restructuring by exiting 14 international markets, simplifying management and focusing on five core businesses.  Citigroup reported a 23% increase in trading profits and strong earnings in Services and Wealth segments, despite rising credit costs and macroeconomic challenges. While U.S. Personal Banking hit a revenue record and net income more than doubled, the “All Other” segment was a drag due to legacy market wind-downs.  Turmoil can be challenging for everyday consumers bu ...

Citigroup Inc. (NYSE:C) Q1 2025 Earnings Conference Call April 15, 2025 11:00 AM ET Company Participants Jenn Landis - Head, Investor Relations Jane Fraser - Chief Executive Officer Mark Mason - Chief Financial Officer Conference Call Participants Glenn Schorr - Evercore Jim Mitchell - Seaport Global Mike Mayo - Wells Fargo Ebrahim Poonawala - Bank of America John McDonald - Truist Securities Ken Usdin - Autonomous Research Betsy Graseck - Morgan Stanley Erika Najarian - UBS Vivek Juneja - JPMorgan Gerard C ...

Citigroup Inc. C reported on Tuesday that the first-quarter fiscal 2025 revenue growth was 3% year-over-year and was $21.6 billion, beating the analyst consensus of $21.29 billion. This growth was driven by each of the five interconnected businesses.Excluding divestiture-related impacts in both periods, revenues also went up 3%.The U.S. banking giant reported earnings per share of $1.96, increased from $1.58 a year ago, beating the consensus of $1.84.Also Read: JPMorgan, Wells Fargo, Morgan Stanley, BNY Mel ...

April 15, 2025 First Quarter 2025 Our strategy and path forward remain unchanged Our Vision Be the preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in our home market of the United States Maximize unique global network Scale Wealth Target share gains in Services, Banking, Markets and U.S. Personal Banking Grow Commercial Banking client segment Enhance Business Performance Focus on five core interconnected businesses Exit 14i ...

Core Insights - Citigroup Inc.'s first-quarter 2025 adjusted net income per share was $1.96, exceeding the Zacks Consensus Estimate by 6.5% and up from $1.58 in the same period last year [1] - The company reported a net income of $4.1 billion, reflecting a 21% increase year-over-year [2] Revenue and Expenses - Revenues, net of interest expenses, increased by 3% year-over-year to $21.6 billion, surpassing the Zacks Consensus Estimate by 1.9% [3] - Net interest income rose 4% year-over-year to $14 billion, while non-interest revenues increased by 1% to $7.6 billion [3] - Operating expenses decreased by 5% year-over-year to $13.4 billion, attributed to lower FDIC special assessment expenses, absence of restructuring charges, and reduced compensation expenses [4] Segment Performance - In the Services segment, total revenues were $4.9 billion, up 3% year-over-year, driven by growth in Treasury and Trade Solutions [5] - The Markets segment saw revenues increase by 12% year-over-year to $5.9 billion, fueled by growth in Fixed Income and Equity markets [5] - Banking revenues rose by 12% year-over-year to $1.2 billion, primarily due to growth in investment banking [6] - U.S. Personal Banking revenues were $5.2 billion, up 2% year-over-year, while Wealth segment revenues increased by 24% to $2.1 billion [6][7] - Revenues in the All Other segment declined by 39% year-over-year to $1.4 billion [7] Balance Sheet and Credit Quality - At the end of Q1 2025, deposits rose by 2% to $1.32 trillion, and loans increased by 1% to $702 billion [8] - Total non-accrual loans fell by 2% year-over-year to $2.7 billion, while provisions for credit losses increased by 15% to $2.72 billion [9] Capital Position - The Common Equity Tier 1 capital ratio was 13.4%, slightly down from 13.45% in Q1 2024 [10] - The supplementary leverage ratio was 5.8%, marginally down from 5.84% in the prior year [11] - The company returned $2.8 billion to shareholders through dividends and share repurchases [12] Outlook - Management expects revenues for 2025 to be between $83.1 billion and $84.1 billion, with net interest income projected to rise by 2-3% year-over-year [13] - Expenses are anticipated to be slightly lower than $53.4 billion [13] Strategic Initiatives - The company is focusing on business transformation initiatives, including exits from consumer businesses and organizational simplification, which are expected to enhance long-term results [15]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Citigroup beat Wall Street estimates for first-quarter profit on Tuesday as its traders reaped a windfall from volatile markets that fueled client activity. The third-largest U.S. lender's earnings echoed those of Wall Street rivals, including JPMorgan Chase, Bank of America, and Morgan Stanley, whose results were also lifted by stronger equities trading. While industry profits rose, executives warned that U.S. tariff policies cast a shadow over the economic outlook."We continue to help our clients navigate ...

Citigroup (C) came out with quarterly earnings of $1.96 per share, beating the Zacks Consensus Estimate of $1.84 per share. This compares to earnings of $1.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 6.52%. A quarter ago, it was expected that this U.S. bank would post earnings of $1.25 per share when it actually produced earnings of $1.34, delivering a surprise of 7.20%.Over the last four quarters, the company has surpa ...

Financial Performance - Total revenues for Q1 2025 reached $21,596 million, an increase of 11% from Q4 2024 and 3% from Q1 2024[3]. - Net income attributable to Citigroup was $4,064 million, reflecting a 42% increase from Q4 2024 and a 21% increase from Q1 2024[3]. - Diluted earnings per share (EPS) rose to $1.96, up 46% from Q4 2024 and 24% from Q1 2024[3]. - Citigroup's net income for Q1 2025 reached $4,064 million, representing a 42% increase from Q4 2024 and a 21% increase from Q1 2024[8]. - Total net revenues reported for Q1 2025 were $21,596 million, an increase of 11% from Q4 2024 and 3% from Q1 2024[13]. - Income from continuing operations for Q1 2025 was $4,108 million, reflecting a 42% increase from Q4 2024 and a 21% increase from Q1 2024[13]. - Net income for Q1 2025 was $1,782 million, up 77% from Q4 2024 and 27% from Q1 2024[23]. - Net income for Q1 2025 was $284 million, a 15% decrease from Q4 2024 but a 62% increase from Q1 2024[33]. - Net income (loss) for Q1 2025 was $(870) million, a 19% increase from Q4 2024 but an 82% decrease from Q1 2024[46]. - Net income for Q1 2025 was a loss of $60 million, a 63% improvement from a loss of $161 million in Q4 2024[50]. Revenue Breakdown - Net interest income (NII) rose to $14,012 million, reflecting a 2% increase from Q4 2024 and a 4% increase from Q1 2024[8]. - Total non-interest revenues (NIR) increased by 32% to $7,584 million compared to Q4 2024, and by 1% compared to Q1 2024[8]. - Principal transactions revenue surged by 72% to $3,921 million compared to Q4 2024, and increased by 20% from Q1 2024[8]. - Total revenues, net of interest expense, reached $5,986 million in Q1 2025, reflecting a 31% increase from Q4 2024 and a 12% increase from Q1 2024[23]. - Total revenues, net of interest expense, for Q1 2025 were $1,445 million, an 8% increase from Q4 2024 but a 39% decrease from Q1 2024[46]. Asset and Liability Management - Total assets increased to $2,571.5 billion, a 9% rise from Q4 2024 and a 6% rise from Q1 2024[3]. - Total liabilities rose to $2,358,256 million, reflecting a 10% increase from the previous quarter[10]. - Total stockholders' equity increased to $212,408 million, a 2% rise from the previous quarter[10]. - Total common equity increased by 2% to $194,058 million[10]. - Total average interest-earning assets increased from $2,250.2 billion in 1Q24 to $2,306.2 billion in 1Q25[4]. Loan and Deposit Trends - Total loans at the end of Q1 2025 were $702.1 billion, a 1% increase from Q4 2024 and a 4% increase from Q1 2024[3]. - Total deposits reached $1,316.4 billion, up 2% from Q4 2024 and 1% from Q1 2024[3]. - North America deposits increased to $406.2 billion in Q1 2025, up 2% from Q4 2024 and 8% from Q1 2024[72]. - International deposits totaled $444.4 billion in Q1 2025, marking a 5% increase from Q4 2024 and a 2% increase from Q1 2024[72]. - Total consumer loans decreased slightly to $386.3 billion in 1Q25, a 2% decline from 4Q24 but a 1% increase from 1Q24[68]. Efficiency and Operating Expenses - The efficiency ratio improved to 62.2%, a decrease of 490 basis points from Q4 2024[3]. - Operating expenses for Q1 2025 were $13,425 million, which is a 3% increase from Q4 2024 but a 5% decrease from Q1 2024[8]. - Total operating expenses for Q1 2025 were $2,584 million, a decrease of 1% from Q4 2024 and 3% from Q1 2024[18]. - Total operating expenses for Q1 2025 were $3,468 million, a 9% increase from Q4 2024 and a 2% increase from Q1 2024[23]. - The efficiency ratio improved to 58% in Q1 2025, a decrease of 1,100 basis points from Q4 2024[23]. Credit Quality and Losses - Provisions for credit losses and for benefits and claims totaled $2,723 million, a 5% increase from Q4 2024 and a 15% increase from Q1 2024[8]. - The provision for credit losses on loans remained stable at $2,561 million, showing no change from Q4 2024 but a 6% increase from Q1 2024[8]. - Net credit losses (NCLs) for loans in 1Q25 amounted to $2,459 million, representing a 7% increase from the previous quarter[78]. - Non-accrual loans totaled $2,704 million in 1Q25, showing a 2% decrease from 4Q24[83]. - The total allowance for credit losses as a percentage of total loans was 2.70% in 1Q25, consistent with 4Q24[78]. Capital Ratios and Equity - Common Equity Tier 1 (CET1) Capital ratio stood at 13.4%, slightly down from 13.63% in Q4 2024[3]. - Citigroup's Common Equity Tier 1 (CET1) capital was $153,142 million as of March 31, 2024, with a CET1 capital ratio of 13.45%[87]. - The tangible common equity (TCE) was reported at $165,307 million, with a tangible book value per share of $86.67[87]. - The total Tier 1 capital (CET1 + Additional Tier 1 Capital) was $172,065 million as of March 31, 2024[87]. - The book value per share increased to $99.08 as of March 31, 2024, from $99.70 in the previous quarter[87].

Jane Fraser, CEO of Citigroup, attends a hearing on Annual Oversight of Wall Street Firms before the Senate Committee on Banking, Housing, and Urban Affairs in Washington, D.C., the United States, on Dec. 6, 2023.Citigroup is scheduled to report first-quarter earnings before the opening bell Tuesday. Here's what Wall Street expects:Earnings: $1.85 per share, according to LSEGRevenue: $21.29 billion, according to LSEGProvision for credit losses: $2.57 billion, per StreetAccountTrading Revenue: Fixed income o ...