Citi profits hit by Russia charge, after ending 2025 with strong dealmaking performance

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 ...