Citigroup Inc

Latest Results (14.12.2025):

Citigroup Inc reported results for the third quarter 2025: revenues of $22.1 billion (up 9% year‑over‑year), net income of $3.8 billion (or $1.86 per diluted share), and reported ROE of 7.1% and RoTCE of 8.0%. Results included a notable goodwill impairment charge tied to the announced sale of a 25% stake in Grupo Financiero Banamex; excluding that item, third‑quarter net income was $4.5 billion and EPS was $2.24. The bank returned roughly $6.1 billion to common shareholders during the quarter.

Top-line and earnings

Revenues: $22.1B, +9% YoY. Reported net income: $3.8B; reported EPS: $1.86. Excluding the $726M goodwill impairment (noteable item), net income was $4.5B and EPS $2.24.

Notable item and expense impact

Citi recorded a $726M goodwill impairment (≈$714M after tax) related to the 25% Banamex stake sale. Total operating expenses were $14.3B (+9% reported); excluding the notable item, expenses rose ~3% YoY.

Capital, returns and tangible book

Preliminary CET1 ratio was 13.2% (down from 13.5% prior quarter). Tangible book value per share: $95.72 (+7% YoY); book value per share: $108.41 (+6% YoY). RoE 7.1% and RoTCE 8.0% (both preliminary).

Shareholder returns

Citi returned approximately $6.1B to common shareholders in Q3 2025 via share repurchases and dividends, contributing to capital ratio movement and lower shares outstanding.

Credit, loans and deposits

Cost of credit: $2.5B (net credit losses $2.2B; ACL build $236M). End‑period loans: $734B (+7% YoY). End‑period deposits: ~$1.4T (+6% YoY). Total ACL ~ $23.8B; reserve‑to‑funded loans 2.65% (vs 2.70% a year earlier).

Asset quality developments

Total non‑accrual loans rose to $3.7B (+70% YoY). Corporate non‑accruals were $2.1B (+119% YoY), driven by idiosyncratic downgrades in Markets and Banking; consumer non‑accruals were $1.6B (+32% YoY), with Wealth impacted by wildfire‑affected residential mortgages in California.

Segment performance — Services & Markets

Services: revenues $5.4B, +7% YoY (TTS and Securities Services growth). Markets: revenues $5.6B, +15% YoY (Fixed Income +12%; Equities +24%), driving record third‑quarter performance despite low volatility.

Segment performance — Banking, Wealth & USPB

Banking revenues $2.1B, +34% YoY (Investment Banking and Corporate Lending strength). Wealth revenues $2.2B, +8% YoY with Net New Investment Assets of $18.6B. U.S. Personal Banking (USPB) revenues $5.3B, +7% YoY; USPB net income rose 64% YoY to $858M.

All Other and regional notes

All Other (managed basis) revenues $1.5B, down 16% YoY; Legacy Franchises (managed) rose 8% YoY, helped by Mexico (peso appreciation). Corporate/Other was a drag, reflecting lower reinvestment benefits and divestiture effects.

Efficiency and outlook items

Efficiency ratio ~64.7% (total operating expenses / total revenues). Management highlighted continued investments in transformation, digital assets and AI, and noted ongoing divestiture activity (Banamex stake sale) as drivers of near‑term items and longer‑term strategic positioning.