CITIGROUP (C) Company Report

On February 2, 2026, Citigroup filed a Certificate of Designations establishing 6.250% Noncumulative Preferred Stock, Series II, par value $1.00, with a $25,000 liquidation preference per share.
Citigroup plans to issue 32,000,000 depositary shares, each representing a 1/1,000th interest in Series II Preferred Stock, and granted underwriters an option to purchase up to 4,800,000 additional depositary shares for over-allotments.
The offering is under an Underwriting Agreement led by Citigroup Global Markets Inc., with a Deposit Agreement appointing Computershare Inc. as depositary.

3 hours ago

8-K

EquipmentShare prices initial public offering

EquipmentShare priced its initial public offering of 30,500,000 shares of Class A common stock at $24.50 per share.
The selling stockholders granted underwriters a 30-day option to purchase up to 4,575,000 additional shares to cover over-allotments.
Shares are expected to begin trading on the Nasdaq Global Select Market under ticker EQPT on January 23, 2026, with closing anticipated on January 26, 2026.
Lead book-running managers include Goldman Sachs, Wells Fargo Securities, UBS Investment Bank, Citigroup and Guggenheim Securities.

Jan 23, 2026, 4:31 AM

Press Release

PicPay seeks $2.46B valuation in US IPO

Delisting/Listing Issues

PicPay plans a US IPO of 22.9 million shares at $16–$19, aiming to raise $400–434 million, with pricing set for Jan. 28.
The deal implies a $2.3–2.5 billion valuation (around $2.46 billion).
Citigroup, Bank of America and RBC are lead underwriters; growth-equity fund Bicycle may buy up to $75 million of the offering.
For the nine months ended Sept. 30, PicPay reported net income of 270.4 million reais on 7.26 billion reais revenue, up from 150.8 million on 3.78 billion a year earlier.
The IPO is viewed as a litmus test for renewed US demand for Brazilian fintechs, marking the first major Brazil-origin US listing since Nubank in 2021.

Jan 20, 2026, 2:28 PM

Bloomberg

CK Hutchison explores $20B telecom IPO

Delisting/Listing Issues

M&A

New Projects/Investments

CK Hutchison is considering a spin-off and dual listing of its global telecom arm in London and Hong Kong, targeting a valuation of $20 billion and an IPO potentially as soon as Q3 2026.
The company has engaged advisers including Goldman Sachs, Citigroup, and Deutsche Bank, but the board has made no final decisions, and any transaction remains uncertain.
Separate advanced talks with Liberty Global could involve selling Three Ireland (valued at ~€1.5 billion), raising regulatory scrutiny in the Irish market.
This telecom listing is part of a broader portfolio reorganisation that includes a planned $22.8 billion ports sale to a BlackRock-led consortium and ongoing merger discussions in Europe.
Investors are warned to exercise caution while strategic reviews of the telecom and health & beauty retail businesses continue.

Jan 20, 2026, 1:24 PM

Morningstar

WeLab raises $220m Series D, plans Southeast Asia expansion

Convertible Preferred Issuance

Debt Issuance

New Projects/Investments

WeLab closed a $220 million debt-and-equity Series D, its largest funding to date, backed by Prudential Hong Kong, Fubon Bank (Hong Kong), HSBC, Hong Kong Investment Corporation, Allianz X and TOM Group.
Proceeds will accelerate expansion across Southeast Asia, deepen Hong Kong product ecosystem and customer acquisition, and support new business lines, platform upgrades and potential M&A.
A portion of the capital is earmarked for AI initiatives via a strategic partnership with Google, focusing on AI agents, hyper-personalization and modernized marketing capabilities.
WeLab serves over 70 million individual users and 700 enterprise customers through WeLab Bank in Hong Kong and Bank Saqu in Indonesia; management says an IPO remains an option but isn’t immediately necessary.

Jan 15, 2026, 2:48 AM

Bloomberg

Citigroup CEO raises performance bar as bank plans 20,000 job cuts

Layoffs

Citigroup CEO Jane Fraser warned staff that “the bar is raised,” urging a more commercial mindset and emphasizing employees are judged on results, not effort.
The bank plans to cut up to 20,000 jobs by end-2026, has eliminated over 10,000 roles, and announced roughly 1,000 cuts in the latest round as part of its multiyear Transformation.
Citi aims for 10–11% return on tangible common equity as a key profitability target, with more than 80% of the Transformation complete.
Headcount stood at 227,000 at end-September, establishing the baseline for planned reductions and reflecting productivity gains from AI tools.

Jan 14, 2026, 5:27 PM

Fortune

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.

Jan 14, 2026, 4:00 PM

Transcript

Citi Reports Q4 2025 Results

Earnings

Guidance Update

Share Buyback

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.

Jan 14, 2026, 4:00 PM

Transcript

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%

Jan 14, 2026, 4:00 PM

Presentation

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.