CITIGROUP (C) Company Report

Q4 net income of $2.5 billion, EPS of $1.19 and ROTCE of 5.1%; adjusted net income of $3.6 billion, EPS $1.81 and ROTCE 7.7%.
Full-year adjusted net income of $16.1 billion and ROTCE 8.8%, with revenues up 7% adjusted for Russia and divestitures to $86.6 billion.
All five businesses delivered record revenues and improved returns: Services ROTCE 28.6%, Markets 11.6%, Banking 11.3%, Wealth over 12%.
Returned capital via $13 billion of share repurchases and a dividend increase, totaling $17.5 billion; CET1 ratio at 13.2%, 160 bps above requirements.
2026 outlook calls for NII ex-Markets up 5–6%, efficiency ratio around 60%, continued fee growth, stable card credit losses, and continuation of the $20 billion buyback plan.

6 hours ago

Transcript

Citi reports Q4 2025 results and 2026 outlook

Earnings

Guidance Update

CFO Change

Citi reported Q4 2025 net income of $2.5 billion (EPS $1.19) and adjusted net income of $3.6 billion (adjusted EPS $1.81), with adjusted ROTCE of 7.7% in the quarter and 8.8% for the full year.
Record revenues across all five businesses drove full-year 7% adjusted revenue growth to $86.6 billion, with Banking revenues up 32%, Markets and Securities Services setting records, and Wealth revenues up 14%.
Citi returned over $17.5 billion of capital in 2025— including $13 billion of share buybacks ($4.5 billion in Q4) and a dividend increase—with a year-end CET1 ratio of 13.2%, 160 bps above requirements.
Management expects 2026 net interest income (ex-markets) growth of 5–6%, a full-year efficiency ratio around 60%, continued positive operating leverage, and ongoing share repurchases under the $20 billion program.
Q4 2025 was Mark Mason’s last call as CFO, marking a key leadership transition at the firm.

7 hours ago

Transcript

Citi reports Q4 2025 results and outlines 2026 outlook

Earnings

CFO Change

Guidance Update

Citi closed Q4 2025 with adjusted EPS of $1.81, adjusted ROTCE of 7.7%, and for the full year delivered an 8.8% ROTCE on adjusted net income exceeding $16 billion, achieving positive operating leverage and record revenues across all five businesses.
Returned $13 billion of capital via share repurchases in 2025 (including $4.5 billion in Q4) and raised its dividend for a total capital return of $17.5 billion, while maintaining a 13.2% CET1 ratio.
Advanced its simplification program by signing an agreement to sell Poland’s consumer business, closing the 25% Banamex stake sale, and obtaining final approvals to divest Russian operations; the OCC removed Article 17 of the consent order in December.
Mark Mason delivered his final earnings call as CFO and Citi provided 2026 guidance for 5–6% growth in net interest income ex-markets, a target 60% efficiency ratio, and another year of positive operating leverage.

8 hours ago

Transcript

Citigroup reports Q4 and full year 2025 results

Earnings

Share Buyback

Dividends

Citigroup reported net income for Q4 2025 of $2.5 billion (or $1.19 per diluted share) on revenues of $19.9 billion, up 2% year-over-year (8% ex-Russia notable item).
For full year 2025, net income was $14.3 billion on revenue of $85.2 billion, a 6% YoY increase (ex-notable revenue of $86.4 billion and ex-notable net income of $16.1 billion).
Returned $17.6 billion to shareholders in 2025—including $13 billion through share repurchases and dividends—while ending the year with a 13.2% CET1 Ratio.
CEO Jane Fraser noted record revenues and positive operating leverage across all five businesses, and set a 2026 RoTCE target of 10–11%.

10 hours ago

8-K

Citi reports Q4 2025 results

Earnings

Share Buyback

Guidance Update

FY 2025 revenues of $85.2 B (+6% YoY), net income of $14.3 B (+13%), EPS of $6.99; ex-notable items revenues of $86.4 B, net income of $16.1 B, EPS of $7.97
4Q 2025 revenues of $19.9 B (+2% YoY; +8% ex-notable), net income of $2.5 B, EPS of $1.19, RoTCE of 5.1% (7.7% ex-notable)
Returned over $17.5 B to shareholders in 2025: $13.25 B in share repurchases and dividend increased to $0.60 per share
Targeting 10–11% RoTCE in 2026, supported by NII ex-Markets growth of 5–6% and an efficiency ratio near 60%

12 hours ago

Presentation

Citi reports Q4 2025 earnings

Earnings

Share Buyback

Citigroup reported Q4 2025 $19.9 B in revenue and $2.5 B in GAAP net income (adjusted net income $3.6 B; adjusted EPS $1.81).
Returned $5.6 B to shareholders in the quarter.
Services unit (Treasury & Trade Solutions and Securities Services) generated roughly $21 B in revenue for fiscal 2025, emerging as the “crown jewel” of the reorganization.
Over 80% of technology transformation programs are nearing target state, with AI tools adopted by 180,000 employees and automation handling about 3.5 M payments daily.

1 day ago

Barron's

EquipmentShare launches IPO

Delisting/Listing Issues

EquipmentShare announced the launch of an initial public offering of 30,500,000 Class A shares, with underwriters granted a 30-day option to purchase up to an additional 4,575,000 shares.
The expected offering price range is $23.50 to $25.50 per share, subject to market conditions.
The shares are intended to be listed on the Nasdaq Global Select Market under ticker EQPT.
Goldman Sachs, Wells Fargo Securities, UBS Investment Bank, Citigroup, and Guggenheim Securities will serve as lead book-running managers.

1 day ago

Press Release

BitGo Holdings launches IPO

Delisting/Listing Issues

BitGo filed to offer 11,821,595 Class A common shares (including 11,000,000 by BitGo and 821,595 by selling shareholders) with a 30-day option for an additional 1,770,000 shares, at an expected price of $15–$17 per share.
The shares are proposed to trade on the NYSE under ticker BTGO upon effectiveness of the registration statement.
Goldman Sachs & Co. LLC will lead the offering, with Citigroup and several banks as co-leads and co-managers.
A preliminary prospectus will be available from Goldman Sachs and Citigroup upon filing.

2 days ago

Press Release

Citigroup: Macau GGR Rises 14.8%, Misses Estimates

Revenue Acceleration/Inflection

Demand Weakening

Macau GGR rose 14.8% year-on-year in December to 20.9 billion patacas, missing the 18% analyst expectation.
For the full year, GGR reached 247.4 billion patacas, up 9.1%, or roughly 85% of 2019 levels.
December’s GGR returned to about 91% of its 2019 benchmark, yet the softer print has prompted caution among Macau-focused casino stocks.
Visitor arrivals in November were approximately 3.3 million (around 15% above pre-pandemic), while December arrival data was not yet released.

Jan 1, 2026, 6:09 AM

Bloomberg

Citigroup to sell Russian unit, incur $1.2B loss

M&A

Accounting Changes

Citigroup’s board approved selling AO Citibank in Russia, classifying it as held for sale in Q4 2025 with signing and closing expected in H1 2026.
The transaction will generate an estimated $1.2 billion pre-tax loss (approximately $1.1 billion after tax), largely due to $1.6 billion of currency translation adjustment losses, offset by about $0.2 billion from derecognizing a reserved net investment and $0.2 billion of expected sale proceeds.
The buyer is Renaissance Capital, and Citi expects the release of accumulated CTA from Other Comprehensive Income to be capital neutral to its Common Equity Tier 1 ratio, though final loss remains subject to FX movements.
This move aligns with Citi’s broader risk-management and operational streamlining strategy following the August 2022 wind-down of its Russian consumer and local commercial banking operations.