Citigroup (C) Morgan Stanley US Financials Conference 2026 summary

Strategic priorities and focus

• Emphasis on value creation through durability, accountability, and execution, with a focus on long-term resilience and strong balance sheet and liquidity positions.

• Cultural shift towards rigorous accountability and relentless execution, prioritizing client-centric performance.

Macroeconomic and credit outlook

• Global growth faces tension from geopolitical events and inflation, with emerging markets showing resilience and Europe expecting modest but positive growth.

• U.S. economy and consumer remain resilient, with stable spending patterns and benign credit trends; corporate clients maintain strong balance sheets.

Business performance and outlook

• Investment banking fees expected to grow mid-teens year-on-year, driven by equity activity and robust IPO and follow-on markets.

• Markets revenue projected to rise high single to low double digits, with strength in equities, prime, derivatives, and fixed income.

• Cost of credit anticipated to remain in line with Q1, with delinquencies and losses down year-over-year.