Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $1.81 and an adjusted ROTCE of 7.7% for Q4 2025, with full-year adjusted net income surpassing $16 billion, reflecting an 180 basis points improvement to 8.8% ROTCE [3][19] - Total revenues for the quarter were up 2%, with adjusted revenues increasing by 8% when excluding the notable item related to Russia [18][19] - Expenses increased by 6% to $13.8 billion, driven by higher compensation, tax charges, and technology expenses [18][22] Business Line Data and Key Metrics Changes - Services revenues increased by 15% in Q4, with net income of $2.2 billion and an ROTCE of 36.1% [26] - Markets revenues were down 1%, with fixed income and equities both experiencing slight declines, but overall, markets delivered a net income of $783 million [29] - Banking revenues surged by 78%, driven by corporate lending and investment banking, with M&A fees up 84% [30][31] - Wealth management revenues grew by 7%, with net income of $338 million and an ROTCE of 10.9% [33] Market Data and Key Metrics Changes - Cross-border transaction value increased by 14%, and assets under custody and administration grew by 24% [26] - The corporate lending wallet was noted to be over $100 billion, with expectations for continued share gains [76] Company Strategy and Development Direction - The company is focused on a multi-year transformation strategy, with over 80% of its programs nearing target states [10][56] - Investments in technology and innovation are prioritized to enhance operational efficiency and client experience [11][72] - The company aims to achieve a ROTCE target of 10%-11% and maintain positive operating leverage [14][38] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the global economic outlook, citing strong capital investment and a healthy consumer environment [12] - The company is well-positioned to support corporate clients, with a focus on maintaining high credit quality [12][24] - Management highlighted the importance of continued investment in the franchise to drive long-term growth [72] Other Important Information - The company repurchased over $13 billion in common shares during the year, with a CET1 ratio of 13.2%, significantly above regulatory requirements [9][25] - The company is nearing the end of its international divestitures, including the sale of its consumer business in Poland and operations in Russia [10] Q&A Session Summary Question: Markets performance and ROTCE - Inquiry about the flat revenues in markets and the relationship between allocated capital and ROTCE [48] - Response highlighted strong full-year performance in markets, with a focus on optimizing RWA and deploying it in high-return areas [50][51] Question: Efficiency ratio target - Clarification sought on the change in efficiency ratio target from below 60% to around 60% [52] - Response indicated that the adjustment allows for continued investment in the business while maintaining expense discipline [52] Question: Transformation progress - Inquiry about the remaining work in transformation and its relation to safety and soundness [55] - Management confirmed significant progress, with a focus on compliance, risk, controls, and data modernization [56][58] Question: Competitive positioning and investment banking - Question regarding the gap between Citi and best-in-class peers in investment banking [69] - Management acknowledged past investments and ongoing efforts to enhance capabilities and competitive positioning [70][72] Question: NII outlook - Inquiry about the improved NII outlook for 2026 [87] - Response indicated that higher loan and deposit volumes contributed to the positive outlook, with expectations for continued growth [88]

Citigroup (NYSE:C) Q4 2025 Earnings call January 14, 2026 11:00 AM ET Speaker0Hello, and welcome to Citi's Fourth Quarter 2025 earnings call. Today's call will be hosted by Jen Landis, Head of Citi Investor Relations. We ask that you please hold all questions until the completion of the formal remarks, at which time you will be given instructions for the question-and-answer session. Also, as a reminder, this conference is being recorded today. If you have any objections, please disconnect at this time. Ms. ...

Revenue from advisory—Citi's bankers guiding companies on big-ticket transactions, such as mergers and acquisitions—drove that increase, with an 84% surge from a year ago. That more than offset a 16% decline in equity underwriting from the year-ago period. Citi said investment banking fees rose 35% to $1.29 billion. The bank has been on a quest to improve its investment banking performance under CEO Jane Fraser. Big banks have so far reported mixed fourth quarter-earnings for their investment banking busine ...

Some of America’s top bankers are warning that the president’s cap on credit card interest rates would prove disastrous for lower-income consumers and the US economy — not to mention their profits. Faced with President Trump’s proposal to slash their credit card interest rate fee income days before reporting fourth quarter earnings, senior executives for the nation’s four largest banks — JPMorgan Chase (JPM), Citigroup (C), Bank of America (BAC), and Wells Fargo (WFC) — all said they agree that affordabil ...

Brent Crude prices have the potential to hit $70 per barrel over the next three months amid heightened geopolitical risks, according to analysts at Citi. The investment bank raised its 0-3 month outlook on Brent Crude prices to $70 per barrel from $65 a barrel previously, due to upside pressure from geopolitical risks. Early on Wednesday, Brent Crude traded 1% higher at above $66 per barrel as the market has started to price in a potential U.S. strike on Iran and the potential of supply disruptions in t ...

Citi’s Treasury and Trade Solutions performance reflects a broader industry trend where embedded, cross-border financial infrastructure is becoming more valuable amid supply chain reconfiguration, regulatory complexity and demand for real-time liquidity management.Investments in technology, automation and AI have transformed transaction banking from a balance sheet-heavy utility into a scalable, higher-margin services platform with improving economics.Citi’s 2025 earnings highlighted a strategic shift towar ...

Financial Performance Highlights - The company reported revenues of $85.2 billion, up 6% year-over-year[9], or $86.4 billion excluding notable items, up 7% year-over-year[9] - Net income was $14.3 billion, up 13% year-over-year[9], or $16.1 billion excluding notable items, up 27% year-over-year[9] - Earnings per share (EPS) was $6.99, or $7.97 excluding notable items[9] - The company's Return on Tangible Common Equity (RoTCE) was 7.7%, up 70 bps year-over-year[9], or 8.8% excluding notable items, up 180 bps year-over-year[9] Business Segment Results - Services revenues reached $21.3 billion[11], up 8% year-over-year[32] - Markets revenues totaled $22.0 billion[11], up 11% year-over-year[37] - Banking revenues were $8.2 billion[11], up 32% year-over-year[41] - Wealth revenues amounted to $8.6 billion[11], up 14% year-over-year[46] - U S Personal Banking (USPB) revenues were $21.0 billion[11], up 5% year-over-year[54] Capital and Liquidity - The company's Common Equity Tier 1 (CET1) Capital Ratio was 13.2%, approximately 160 bps above regulatory requirements[9, 27] - The company returned over $17.5 billion to common shareholders, including $13.25 billion in share repurchases[9] Outlook - The company projects Net Interest Income (NII) excluding Markets to grow by 5-6% year-over-year in 2026[67] - The company is targeting an efficiency ratio of approximately 60% and positive operating leverage for 2026[69] - The company is targeting a return of 10-11% in 2026[72]

Investors were selling bank stocks Tuesday morning after three of the nation's largest banks—Citigroup, Bank of America, and Wells Fargo—reported mixed fourth-quarter earnings. Wells Fargo and Bank of America dropped 4.7% and 4.6%, respectively. Citigroup was down 2.2%. Shares of other banks that have yet to report earnings were falling, too, and the KBW Nasdaq Bank Index was down 1.2%. Wells Fargo's fourth-quarter earnings of $1.62 a share missed Wall Street analyst estimates of $1.66, according to FactSet ...

Citigroup’s fourth-quarter profit plunged 13% as the financial behemoth grappled with massive charges from dumping its Russia operations amid the war in Ukraine, but it wrapped up 2025 on a high note with beefier annual earnings as a surge in dealmaking helped boost investment banking fees.The Jane Fraser-led New York powerhouse posted net income, which is profit after taxes and expenses, of $2.5 billion for October through December, down from $2.9 billion a year prior. “2025 was a year of significant progr ...

Financial Performance - Citigroup reported a consolidated net income of $4.5 billion for Q4 2025, reflecting a 10% increase year-over-year[1]. - Total Citigroup revenues reached $20 billion in Q4 2025, with net interest income (NII) contributing $12 billion, up 8% from the previous year[1]. - Citigroup reported net revenues of $21,596 million for Q4 2025, a 10% increase from Q4 2024, and full-year revenues of $85,225 million, reflecting a 6% increase compared to FY 2024[2]. - Citigroup's net income for Q4 2025 was $4,064 million, a 34% decrease from Q4 2024, while full-year net income reached $14,306 million, a 13% increase from FY 2024[2]. - Citigroup's net income for FY 2025 was $14,306 million, reflecting a 13% increase from FY 2024[7]. - Total Citigroup reported revenues for FY 2025 reached $85.225 billion, reflecting a 6% increase compared to FY 2024's $80.722 billion[93]. - Total Citigroup Net Income for FY 2025 was reported at $14.306 billion, reflecting a 13% increase compared to FY 2024's $12.682 billion[97]. Revenue Breakdown - Non-Interest Revenues (NIR) accounted for $8 billion, representing a 12% increase compared to Q4 2024[1]. - Total non-interest revenues (NIR) decreased by 4% to $25,433 million in FY 2025 compared to FY 2024[7]. - Services revenue for Q4 2025 reached $5,942 million, an increase of 11% from Q3 2025 and 15% year-over-year[15]. - Corporate lending revenues for Q4 2025 were $938 million, a decrease of 5% from Q3 2025 but a significant increase of 197% year-over-year[104]. - Legacy franchises revenues for FY 2025 were $5,512 million, a 19% decrease from FY 2024[101]. Operating Expenses - Citigroup's total operating expenses for Q4 2025 were $14 billion, which is a 4% increase year-over-year[1]. - Operating expenses for Q4 2025 were $13,425 million, up 6% year-over-year, with full-year operating expenses totaling $55,132 million, a 3% increase from FY 2024[2]. - Total operating expenses for FY 2025 were reported at $55.132 billion, a 3% increase from FY 2024's $53.567 billion[95]. - Total operating expenses for FY 2025 were $6,040 million, a 14% decrease from FY 2024[104]. Capital and Assets - The Common Equity Tier 1 (CET1) capital ratio stood at 12.5%, indicating a strong capital position[1]. - The Common Equity Tier 1 (CET1) Capital ratio stood at 13.41% for Q4 2025, while the Tier 1 Capital ratio was 15.10%[3]. - Total assets increased to $2,571.5 billion in Q4 2025, reflecting a 13% increase from the previous year[2]. - Total end-of-period assets reached $86 billion in Q4 2025, a 16% increase from Q4 2024[49]. Loans and Deposits - Total loans reached $702.1 billion in Q4 2025, marking an 8% increase year-over-year, while total deposits were $1,316.4 billion, a 9% increase from Q4 2024[2]. - Total end-of-period loans as reported for Q4 2025 were $752 million, an 8% increase from Q4 2024's $695 million[93]. - Total end-of-period deposits as reported for Q4 2025 reached $1.404 billion, a 9% increase from Q4 2024's $1.285 billion[93]. Credit Losses and Provisions - The allowance for credit losses (ACL) was reported at $3 billion, with a decrease of 5% from the previous quarter[1]. - Net credit losses (NCLs) for Q4 2025 were $2,459 million, a 1% increase from Q4 2024, with total NCLs for FY 2025 at $9,097 million, a 1% increase compared to FY 2024[2]. - The total allowance for credit losses (ACL) was $19,247 million, with a ratio of 2.58%[76]. - The net credit losses (NCLs) for the quarter were $(2,190) million, showing a 1% decrease compared to $(2,234) million in the previous quarter[79]. Strategic Initiatives - The company plans to expand its wealth management services, targeting a 15% growth in client assets by 2026[1]. - Citigroup is investing in new technology platforms, with a budget of $1 billion allocated for digital transformation initiatives in 2026[1]. - Citigroup's market expansion strategy includes entering three new international markets by the end of 2026[1]. Efficiency and Returns - The efficiency ratio improved to 62.2% in Q4 2025, compared to 67.1% in Q4 2024, indicating better cost management[2]. - The return on common equity (RoCE) for FY 2025 is 8.0%, compared to 5.1% in FY 2024, indicating a significant improvement[90]. - The return on tangible common equity (RoTCE) for FY 2025 was 11.6%, an increase of 250 basis points from 9.1% in FY 2024[24].