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Citigroup
Citigroup (C) investor relations material
Citigroup Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary14 Jan, 2026
Executive summary
Reported strong 2025 performance with full-year revenues of $85.2B (reported), $86.6B (adjusted), and net income of $14.3B (reported), $16.1B (adjusted), with significant progress on multi-year transformation and strategy execution, including major milestones in divestitures and operational improvements.
All five business segments achieved record revenues and improved returns, with positive operating leverage for the second consecutive year.
Over $17.5B returned to shareholders through buybacks and dividends, including $13.25B in share repurchases, with CET1 ratio at 13.2%, well above regulatory requirements.
Transformation programs are over 80% complete, with OCC's removal of Article 17 of the consent order and significant progress in automation, data, and regulatory remediation.
Excluding a $1.2B Russia-related loss, Q4 net income was $3.6B ($1.81 EPS); full year net income was $16.1B ($7.97 EPS).
Financial highlights
Fourth quarter net income was $2.5B (reported), $3.6B (adjusted); EPS $1.19 (reported), $1.81 (adjusted); ROTCE 5.1% (reported), 7.7% (adjusted).
Full-year net income was $14.3B (reported), $16.1B (adjusted); ROTCE 7.7% (reported), 8.8% (adjusted); book value per share $110.01, tangible book value per share $97.06.
Full-year revenues reached $85.2B (reported), $86.6B (adjusted), up 6-7% year-over-year, the strongest growth in over a decade.
Expenses for the year were $55.1B (reported), $54.4B (adjusted), with increases driven by compensation, technology, and legal costs.
Efficiency ratio improved to 63% (adjusted), with reported efficiency ratio at 65%.
Outlook and guidance
2026 NII ex-Markets expected to grow 5%-6%, driven by higher loan and deposit volumes, especially in Cards, Wealth, and Services.
Targeting an efficiency ratio around 60% for 2026, with continued positive operating leverage and disciplined expense management.
Aiming for a 10-11% ROTCE in 2026, supported by revenue growth, cost discipline, and continued RWA optimization.
Card NCLs expected to remain within 2025/2026 guided ranges; continued capital return through buybacks planned.
Markets revenues expected to be flat year-over-year in 2026, with NII in Markets likely to increase.
Future capital return strategy given 133% payout
What are the key drivers for 2026 10-11% ROTCE target?
What is the outlook on rising non-accrual loans?
How will transformation completion impact expenses?
Detail AI's role in client experience and efficiency.
How will Markets NII contribute to 2026 growth?
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Next Citigroup earnings date
Q1 202614 Apr, 2026
Citigroup
Next Citigroup earnings date
Q1 202614 Apr, 2026
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Frequently asked questions
A global bank with diverse services
Citigroup, commonly referred to as Citi, is a prominent global financial institution that offers a wide range of banking and financial services. With a global presence and a diverse portfolio of products and services, Citi caters to the needs of individuals, corporations, and governments worldwide. The company operates through multiple business segments, providing a comprehensive suite of banking, investment, and advisory services for its clients. Citi's extensive reach and expertise in the financial industry contribute to its position as a leading player in the global market.
Banking services
Citigroup operates through multiple business segments catered towards different types of clients. These segments include consumer banking, commercial banking, and wealth management.
In consumer banking, Citi offers a range of products and services such as banking accounts, credit cards, and loans to private individuals. In commercial banking, the company provides financial solutions and services tailored to the needs of businesses, including cash management, trade finance, and treasury services. Additionally, Citi's wealth management segment offers investment advisory and asset management services to help clients grow and preserve their wealth through intelligent investing. Through these segments, Citi aims to provide a solution to the financial needs of individuals, businesses, and high-net-worth individuals around the world. Citi is far from alone when it comes to offering these types of financial services to clients and some other businesses operating in the same industry and in a similar fashion to Citi include names like Goldman Sachs and JPMorgan.
The investment banking side of Citi
Citi's investment banking division provides a range of financial services to corporations, governments, and institutional clients. This includes advisory services for mergers and acquisitions, debt and equity underwriting, capital raising, and risk management solutions. Through its investment banking operations, Citi assists facilitating corporate transactions, helping clients access capital markets, and providing strategic financial advice. The division contributes to Citi's overall revenue by generating fee income and strengthening client relationships.
A global enterprise
Citigroup's global presence spans across multiple countries, allowing the company to operate in diverse markets and serve a wide range of clients. This global footprint provides Citigroup with access to international opportunities, a broad customer base, and a diverse set of economic conditions. It also enables the company to leverage its global network to deliver financial services efficiently and effectively, while capitalizing on growth prospects across geographies.
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