Form 8-K
8-K — CITIGROUP INC
Accession: 0001104659-26-039663
Filed: 2026-04-03
Period: 2026-04-03
CIK: 0000831001
SIC: 6021 (NATIONAL COMMERCIAL BANKS)
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — c-20260403x8k.htm (Primary)
EX-99.1 (c-20260403xex99d1.htm)
EX-99.2 (c-20260403xex99d2.htm)
GRAPHIC (c-20260403xex99d1001.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: c-20260403x8k.htm · Sequence: 1
Citigroup Inc._April 3, 2026
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) April 3, 2026
Citigroup Inc.
(Exact name of registrant as specified in its charter)
Delaware
1-9924
52-1568099
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
388 Greenwich Street, New York,
NY
(Address of principal executive offices)
10013
(Zip Code)
(212) 559-1000
(Registrant's telephone number,
including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 formatted in Inline XBRL: See Exhibit 99.2
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
CITIGROUP INC.
Current Report on Form 8-K
Item 7.01 Regulation FD Disclosure.
In order to facilitate comparability with the Citigroup Inc. (Citi) first quarter of 2026 earnings materials to be issued on April 14, 2026, Citi is furnishing Exhibit 99.1, the Historical Quarterly Financial Data Supplement for the five-year quarterly and annual periods ended December 31, 2025, reflecting the following first quarter of 2026 reporting changes:
● Citi transferred its Retail Banking business from U.S. Personal Banking (USPB) to Wealth and integrated the remaining USPB businesses into a new U.S. Consumer Cards segment. For additional information about these reporting changes, refer to Citi’s 2025 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 20, 2026.
- As part of this transfer, the financial results, balance sheet and tangible common equity (TCE) of the Retail Banking business moved to the Wealth segment.
● Citi allocates TCE internally to its businesses annually, taking into consideration a variety of factors, including the economics of client relationships that cross businesses. In addition to reallocating TCE for the transfer of the businesses referenced above, in the first quarter 2026, Citi updated its TCE methodology among the Services, Markets and Banking segments to better align their capital usage associated with the shared economic benefits of corporate lending to clients across these segments, eliminating the need for a corporate lending revenue share arrangement, which had historically been reflected in the “All Other” revenue line item of these segments.
- The updated methodology increased the allocated TCE of Services and Markets, decreased the allocated TCE of Banking, increased the revenues of Services and Markets and decreased the revenues of Banking.
Prior period results and TCE allocations for the segments referenced above have been recast to reflect these reporting changes. Citi’s consolidated results and TCE remain unchanged for all periods presented.
This Current Report on Form 8-K, including Exhibit 99.1, is being “furnished” under the Securities Exchange Act of 1934 (Act) and, thus, shall not be deemed “filed” for purposes of Section 18 of the Act or otherwise subject to the liabilities of that section or incorporated by reference into any filings under the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number
99.1
Citigroup Inc. Historical Quarterly Financial Data Supplement for the five-year quarterly and annual periods ended December 31, 2025.
99.2
Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 as of the filing date.
104.1
See the cover page of this Current Report on Form 8-K, formatted in Inline XBRL.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
CITIGROUP INC.
Dated: April 3, 2026
By:
/s/ Nicole Giles
Nicole Giles
Controller and Chief Accounting Officer
(Principal Accounting Officer)
EX-99.1
EX-99.1
Filename: c-20260403xex99d1.htm · Sequence: 2
Exhibit 99.1
CITIGROUP—QUARTERLY FINANCIAL DATA SUPPLEMENT
4Q25 Historical
Page
Notes:
In order to facilitate comparability with the Citigroup Inc. (Citi) first quarter of 2026 earnings materials to be issued on April 14, 2026, Citi is providing this Historical Quarterly Financial Data Supplement for the five-year quarterly and annual periods ended December 31, 2025, reflecting the following first quarter of 2026 reporting changes:
*
Citi transferred its Retail Banking business from U.S. Personal Banking (USPB) to Wealth and integrated the remaining USPB businesses into a new U.S. Consumer Cards segment. For additional information about these reporting changes, refer to Citi’s 2025 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on February 20, 2026.
-
As part of this transfer, the financial results, balance sheet and tangible common equity (TCE) of the Retail Banking business moved to the Wealth segment.
*
Citi allocates TCE internally to its businesses annually, taking into consideration a variety of factors, including the economics of client relationships that cross businesses. In addition to reallocating TCE for the transfer of the businesses referenced above, in the first quarter 2026, Citi updated its TCE methodology among the Services, Markets and Banking segments to better align their capital usage associated with the shared economic benefits of corporate lending to clients across these segments, eliminating the need for a corporate lending revenue share arrangement, which had historically been reflected in the “All Other” revenue line item of these segments.
-
The updated methodology increased the allocated TCE of Services and Markets, decreased the allocated TCE of Banking, increased the revenues of Services and Markets and decreased the revenues of Banking.
*
Certain interest rate risk-management activities within Markets were moved to Corporate/Other, or between businesses within Markets. These changes impact the results for Markets, as well as Corporate/Other.
Prior period results and TCE allocations for the segments referenced above have been recast to reflect these reporting changes. Citi’s consolidated results and TCE remain unchanged for all periods presented.
Printing note: This Supplement is formatted to print on two pages for each sheet (due to the number of time periods included). The vertical header columns repeat on the second page of each sheet, but due to formatting constraints, the repeating footnotes on the second page are truncated. Please refer to the first page of each sheet for the full footnotes. Viewing in Excel or PDF is unaffected.
Citigroup
Financial Summary
1
Consolidated Statement of Income
2
Consolidated Balance Sheet
3
Segment Net Revenues and Income (Loss)
4
Services
5
Markets
6
Banking
7
Wealth
8
U.S. Consumer Cards (USCC)
9
Metrics
10
All Other
11
Legacy Franchises
12
Corporate/Other
13
Divestiture-Related Impacts—Reconciling Items
14
Citigroup Supplemental Detail
Average Balances and Interest Rates
15
EOP (End-of-Period) Loans
16
EOP Deposits
17
Allowance for Credit Losses (ACL) Rollforward
18
Allowance for Credit Losses on Loans (ACLL) and Unfunded Lending Commitments (ACLUC)
19 - 20
Non-Accrual Assets
21
Common Equity Tier 1 (CET1) Capital and Supplementary Leverage Ratios
22
Tangible Common Equity, Common Equity, Book Value per Share,Tangible Book Value Per Share (TBVPS) and Returns on Common Equity (RoCE) and Tangible Common Equity (RoTCE)
23
Reconciliations of Adjusted Results and FX Impact
FX Impact
24
Total Citigroup Revenues, Net Interest Income (NII) and Non-Interest Revenues (NIR), and Total Citigroup Operating Expenses
25
Notable Items Adjustments and All Other (Managed Basis)
26
All Other (Managed Basis), and Legacy Franchises (Managed Basis)
27
Services and Banking—Corporate Lending Revenues
28
2021 - 2025 Annual—Total Citigroup Revenues, Total Operating Expenses, RoCE and RoTCE
29
Legacy Franchises Exits Contribution
30
CITIGROUP FINANCIAL SUMMARY
(In millions of dollars, except per share amounts, ratios, bps, and as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Revenues, net of interest expense
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
Operating expenses
11,349
11,398
11,695
13,441
13,079
12,314
12,662
12,881
13,206
13,458
13,398
15,908
Net credit losses (NCLs)
1,748
1,320
961
866
872
850
887
1,180
1,302
1,504
1,637
1,994
Credit reserve build (release) for loans
(3,227)
(2,446)
(1,149)
(1,176)
(612)
534
441
593
435
257
179
478
Provision / (release) for unfunded lending commitments
(626)
44
(13)
(193)
474
(159)
(71)
47
(194)
(96)
(54)
(81)
Provisions for benefits and claims, other assets and HTM debt securities
50
16
9
38
21
49
108
25
432
159
78
1,156
Provisions for credit losses and for benefits and claims
(2,055)
(1,066)
(192)
(465)
755
1,274
1,365
1,845
1,975
1,824
1,840
3,547
Income (loss) from continuing operations before income taxes
10,309
7,348
5,862
3,950
5,266
5,971
4,394
3,176
6,183
4,042
4,788
(2,103)
Income taxes (benefits)
2,332
1,155
1,193
771
941
1,182
879
640
1,531
1,090
1,203
(296)
Income (loss) from continuing operations
7,977
6,193
4,669
3,179
4,325
4,789
3,515
2,536
4,652
2,952
3,585
(1,807)
Income (loss) from discontinued operations, net of taxes
(2)
10
(1)
-
(2)
(221)
(6)
(2)
(1)
(1)
2
(1)
Net income (loss) before noncontrolling interests
7,975
6,203
4,668
3,179
4,323
4,568
3,509
2,534
4,651
2,951
3,587
(1,808)
Net income (loss) attributable to noncontrolling interests
33
10
24
6
17
21
30
21
45
36
41
31
Citigroup's net income (loss)
$
7,942
$
6,193
$
4,644
$
3,173
$
4,306
$
4,547
$
3,479
$
2,513
$
4,606
$
2,915
$
3,546
$
(1,839)
Diluted earnings per share:
Income (loss) from continuing operations
$
3.62
$
2.84
$
2.15
$
1.46
$
2.02
$
2.30
$
1.63
$
1.16
$
2.19
$
1.33
$
1.63
$
(1.16)
Net income (loss)
$
3.62
$
2.85
$
2.15
$
1.46
$
2.02
$
2.19
$
1.63
$
1.16
$
2.19
$
1.33
$
1.63
$
(1.16)
Preferred dividends
$
292
$
253
$
266
$
229
$
279
$
238
$
277
$
238
$
277
$
288
$
333
$
300
Income allocated to unrestricted common shareholders—basic
Income (loss) from continuing operations (for EPS purposes)
7,586
5,889
4,353
2,924
4,004
4,495
3,180
2,253
4,296
2,595
3,158
(2,217)
Net income (loss) (for EPS purposes)
7,584
5,899
4,352
2,924
4,002
4,274
3,174
2,251
4,295
2,594
3,160
(2,218)
Income allocated to unrestricted common shareholders—diluted
Income (loss) from continuing operations (for EPS purposes)
7,593
5,897
4,360
2,932
4,012
4,506
3,191
2,264
4,307
2,610
3,174
(2,217)
Net income (loss) (for EPS purposes)
7,591
5,907
4,360
2,932
4,010
4,285
3,185
2,262
4,306
2,609
3,176
(2,218)
Shares (in millions):
Average basic
2,082.0
2,056.5
2,009.3
1,984.3
1,971.7
1,941.5
1,936.8
1,936.9
1,943.5
1,942.8
1,924.4
1,909.7
Average diluted
2,096.6
2,073.0
2,026.2
2,001.6
1,988.2
1,958.1
1,955.1
1,955.9
1,964.1
1,968.6
1,951.7
1,909.7
Common shares outstanding, at period end
2,067.0
2,026.8
1,984.3
1,984.4
1,941.9
1,936.7
1,936.9
1,937.0
1,946.8
1,925.7
1,913.9
1,903.1
Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio(2)(3)
11.82%
11.83%
11.65%
12.25%
11.38%
11.90%
12.29%
13.03%
13.44%
13.37%
13.59%
13.37%
Tier 1 Capital ratio(2)(3)
13.53%
13.35%
13.15%
13.91%
12.98%
13.57%
14.01%
14.80%
15.31%
15.24%
15.40%
15.02%
Total Capital ratio(2)(3)
15.64%
15.63%
15.37%
16.04%
14.84%
15.16%
15.09%
15.46%
15.57%
16.04%
15.78%
15.13%
Supplementary Leverage ratio (SLR)(3)(4)
6.96%
5.84%
5.80%
5.73%
5.58%
5.63%
5.71%
5.82%
5.96%
5.97%
6.04%
5.82%
Return on average assets
1.39%
1.06%
0.79%
0.53%
0.74%
0.77%
0.58%
0.41%
0.76%
0.47%
0.58%
(0.30%)
Return on average common equity (RoCE)
17.2%
13.0%
9.5%
6.4%
9.0%
9.7%
7.1%
5.0%
9.5%
5.6%
6.7%
(4.5%)
Average tangible common equity (TCE) (in billions of dollars)(5)
$
154.7
$
156.9
$
157.4
$
157.0
$
155.3
$
154.4
$
155.5
$
156.9
$
161.1
$
164.1
$
165.3
$
165.2
Return on tangible common equity (RoTCE)(5)
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
(5.1%)
Operating leverage(6)
N/D
N/D
N/D
N/D
(1,781) bps
259 bps
(219) bps
993 bps
1,088 bps
(1,049) bps
290 bps
(2,657) bps
Efficiency ratio (total operating expenses/total revenues, net)
57.9%
64.5%
67.3%
79.4%
68.5%
63.0%
68.7%
72.0%
61.8%
69.6%
66.9%
91.7%
Balance sheet data (in billions of dollars, except per share amounts):
Total assets
$
2,314.3
$
2,327.9
$
2,361.9
$
2,291.4
$
2,394.1
$
2,380.9
$
2,381.1
$
2,416.7
$
2,455.1
$
2,423.7
$
2,368.5
$
2,411.8
Total average assets
2,316.8
2,341.8
2,346.0
2,386.2
2,374.0
2,380.1
2,399.4
2,430.6
2,462.2
2,465.6
2,413.8
2,427.3
Total loans
666.0
676.8
664.8
667.8
659.7
657.3
646.0
657.2
652.0
660.6
666.3
689.4
Total deposits
1,301.0
1,310.3
1,347.5
1,317.2
1,333.7
1,321.8
1,306.5
1,366.0
1,330.5
1,319.9
1,273.5
1,308.7
Citigroup's stockholders' equity
202.5
202.2
200.9
202.0
197.7
199.0
198.6
201.2
208.3
208.7
209.5
205.5
Book value per share
88.18
90.86
92.16
92.21
92.03
92.95
92.71
94.06
96.59
97.87
99.28
98.71
Tangible book value per share(5)
75.50
77.87
79.07
79.16
79.03
80.25
80.34
81.65
84.21
85.34
86.90
86.19
Direct staff (in thousands)
211
214
220
223
228
231
238
240
240
240
240
239
(1) Not used.
(2) Citi's binding CET1 Capital ratio was derived under the Basel III Standardized Approach, whereas Citi's binding Tier 1 Capital and Total Capital ratios were derived under the Basel III Advanced Approaches framework for December 31, 2025. In prior quarters, the binding Tier 1 Capital ratios were derived under the Basel III Standardized Approach. For the composition of Citi's CET1 Capital and ratio, see page 22.
(3) Commencing January 1, 2025, the capital effects resulting from adoption of the Current Expected Credit Losses (CECL) methodology have been fully reflected in Citi's regulatory capital. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2024 Annual Report on Form 10-K.
(4) For the composition of Citi's SLR, see page 22.
(5) TCE, RoTCE and Tangible book value per share are non-GAAP financial measures. See page 23 for a reconciliation of Tangible book value per share and Citi's average TCE to Citi's total average stockholders' equity.
(6) Represents the year-over-year growth rate in basis points (bps) of total revenues, net of interest expense less the year-over-year growth rate of total operating expenses. Positive operating leverage indicates that the revenue growth rate was greater than the expense growth rate.
Note: Ratios and variance percentages are calculated based on the displayed amounts.
NM Not meaningful.
N/D Not disclosed.
Reclassified to conform to the current period's presentation.
Page 1
CITIGROUP FINANCIAL SUMMARY
(In millions of dollars, except per share amounts, ratios, bps, and as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Revenues, net of interest expense
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
19,871
$
71,574
$
74,982
$
78,066
$
80,722
$
85,225
Operating expenses
14,107
13,246
13,144
13,070
13,425
13,577
14,290
13,840
47,883
50,936
55,970
53,567
55,132
Net credit losses (NCLs)
2,303
2,283
2,172
2,242
2,459
2,234
2,214
2,190
4,895
3,789
6,437
9,000
9,097
Credit reserve build (release) for loans
119
76
210
321
102
243
45
10
(7,998)
956
1,349
726
400
Provision / (release) for unfunded lending commitments
(98)
(8)
105
(118)
108
(19)
100
13
(788)
291
(425)
(119)
202
Provisions for benefits and claims, other assets and HTM debt securities
41
125
188
148
54
414
91
7
113
203
1,825
502
566
Provisions for credit losses and for benefits and claims
2,365
2,476
2,675
2,593
2,723
2,872
2,450
2,220
(3,778)
5,239
9,186
10,109
10,265
Income (loss) from continuing operations before income taxes
4,544
4,310
4,390
3,802
5,448
5,219
5,350
3,811
27,469
18,807
12,910
17,046
19,828
Income taxes (benefits)
1,136
1,047
1,116
912
1,340
1,186
1,559
1,288
5,451
3,642
3,528
4,211
5,373
Income (loss) from continuing operations
3,408
3,263
3,274
2,890
4,108
4,033
3,791
2,523
22,018
15,165
9,382
12,835
14,455
Income (loss) from discontinued operations, net of taxes
(1)
-
(1)
-
(1)
-
(1)
(1)
7
(231)
(1)
(2)
(3)
Net income (loss) before noncontrolling interests
3,407
3,263
3,273
2,890
4,107
4,033
3,790
2,522
22,025
14,934
9,381
12,833
14,452
Net income (loss) attributable to noncontrolling interests
36
46
35
34
43
14
38
51
73
89
153
151
146
Citigroup's net income (loss)
$
3,371
$
3,217
$
3,238
$
2,856
$
4,064
$
4,019
$
3,752
$
2,471
$
21,952
$
14,845
$
9,228
$
12,682
$
14,306
Diluted earnings per share:
Income (loss) from continuing operations
$
1.58
$
1.52
$
1.51
$
1.34
$
1.96
$
1.96
$
1.86
$
1.19
$
10.14
$
7.11
$
4.04
$
5.95
$
6.99
Net income (loss)
$
1.58
$
1.52
$
1.51
$
1.34
$
1.96
$
1.96
$
1.86
$
1.19
$
10.14
$
7.00
$
4.04
$
5.94
$
6.99
Preferred dividends
$
279
$
242
$
277
$
256
$
269
$
287
$
274
$
284
$
1,040
$
1,032
$
1,198
$
1,054
1,114
Income allocated to unrestricted common shareholders—basic
Income (loss) from continuing operations (for EPS purposes)
3,048
2,943
2,906
2,563
3,752
3,683
3,439
2,150
20,751
13,930
7,851
11,460
13,024
Net income (loss) (for EPS purposes)
3,047
2,943
2,905
2,563
3,751
3,683
3,438
2,149
20,758
13,700
7,850
11,458
13,021
Income allocated to unrestricted common shareholders—diluted
Income (loss) from continuing operations (for EPS purposes)
3,063
2,962
2,926
2,583
3,769
3,702
3,459
2,170
20,781
13,971
7,908
11,534
13,100
Net income (loss) (for EPS purposes)
3,062
2,962
2,925
2,583
3,768
3,702
3,458
2,169
20,789
13,741
7,907
11,532
13,097
Shares (in millions):
Average basic
1,910.4
1,907.7
1,899.9
1,887.6
1,879.0
1,855.9
1,820.3
1,772.8
2,033.0
1,946.7
1,930.1
1,901.4
1,832.0
Average diluted
1,943.2
1,945.7
1,940.3
1,931.0
1,919.6
1,893.1
1,862.6
1,816.9
2,049.4
1,964.3
1,955.8
1,940.1
1,873.1
Common shares outstanding, at period end
1,907.4
1,907.8
1,891.3
1,877.1
1,867.7
1,840.9
1,789.3
1,747.5
Regulatory capital ratios and performance metrics:
Common Equity Tier 1 (CET1) Capital ratio(2)(3)
13.45%
13.59%
13.71%
13.63%
13.41%
13.48%
13.27%
13.18%
12.25%
13.03%
13.37%
13.63%
13.18%
Tier 1 Capital ratio(2)(3)
15.11%
15.30%
15.24%
15.31%
15.10%
14.98%
14.97%
13.65%
13.91%
14.80%
15.02%
15.31%
13.65%
Total Capital ratio(2)(3)
15.17%
15.41%
15.21%
15.42%
15.41%
15.28%
15.31%
15.66%
16.04%
15.46%
15.13%
15.42%
15.66%
Supplementary Leverage ratio (SLR)(3)(4)
5.84%
5.89%
5.85%
5.85%
5.79%
5.53%
5.52%
5.48%
5.73%
5.82%
5.82%
5.85%
5.48%
Return on average assets
0.55%
0.53%
0.52%
0.46%
0.65%
0.61%
0.55%
0.36%
0.94%
0.62%
0.38%
0.51%
0.54%
Return on average common equity (RoCE)
6.6%
6.3%
6.2%
5.4%
8.0%
7.7%
7.1%
4.5%
11.5%
7.7%
4.3%
6.1%
6.8%
Average tangible common equity (TCE) (in billions of dollars)(5)
$
164.7
$
166.1
$
168.3
$
168.6
$
169.3
$
172.1
$
172.3
$
170.4
$
156.3
$
155.9
$
163.4
$
166.7
$
170.6
Return on tangible common equity (RoTCE)(5)
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
8.0%
5.1%
13.4%
8.9%
4.9%
7.0%
7.7%
Operating leverage(6)
(845) bps
524 bps
281 bps
3,002 bps
759 bps
567 bps
59 bps
(381) bps
(1,340) bps
(161) bps
(577) bps
770 bps
266 bps
Efficiency ratio (total operating expenses/total revenues, net)
67.1%
66.1%
65.0%
67.1%
62.2%
62.7%
64.7%
69.6%
66.9%
67.9%
71.7%
66.4%
64.7%
Balance sheet data (in billions of dollars, except per share amounts):
Total assets
$
2,432.5
$
2,405.7
$
2,430.7
$
2,352.9
$
2,571.5
$
2,622.8
$
2,642.5
$
2,657.2
$
2,291.4
$
2,416.7
$
2,411.8
$
2,352.9
$
2,657.2
Total average assets
2,450.3
2,456.5
2,492.1
2,474.8
2,517.1
2,647.8
2,688.8
2,722.5
2,347.7
2,396.0
2,442.2
2,468.4
2,644.1
Total loans
674.6
687.7
688.9
694.5
702.1
725.3
733.9
752.2
667.8
657.2
689.4
694.5
752.2
Total deposits
1,307.2
1,278.1
1,310.0
1,284.5
1,316.4
1,357.7
1,383.9
1,403.6
1,317.2
1,366.0
1,308.7
1,284.5
1,403.6
Citigroup's stockholders' equity
206.6
208.3
209.1
208.6
212.4
213.2
213.0
212.3
202.0
201.2
205.5
208.6
212.3
Book value per share
99.08
99.70
101.91
101.62
103.90
106.94
108.41
110.01
92.21
94.06
98.71
101.62
110.01
Tangible book value per share(5)
86.67
87.53
89.67
89.34
91.52
94.16
95.72
97.06
79.16
81.65
86.19
89.34
97.06
Direct staff (in thousands)
237
229
229
229
229
230
227
226
223
240
239
229
226
(1) Not used.
(2) Citi's binding CET1 Capital ratio was derived under the Basel III Standardized Approach, whereas Citi's binding Tier 1 Capital and Total Capital ratios were derived under the Basel III Advanced Approaches framework for December 31, 2025. In prior quarters, the binding Tier 1 Capital ratios were derived under the Basel III Standardized Approach. For the composition of Citi's CET1 Capital and ratio, see page 22.
(3) Commencing January 1, 2025, the capital effects resulting from adoption of the Current Expected Credit Losses (CECL) methodology have been fully reflected in Citi's regulatory capital. For additional information, see "Capital Resources—Regulatory Capital Treatment—Modified Transition of the Current Expected Credit Losses Methodology" in Citigroup's 2024 Annual Report on Form 10-K.
(4) For the composition of Citi's SLR, see page 22.
(5) TCE, RoTCE and Tangible book value per share are non-GAAP financial measures. See page 23 for a reconciliation of Tangible book value per share and Citi's average TCE to Citi's total average stockholders' equity.
(6) Represents the year-over-year growth rate in basis points (bps) of total revenues, net of interest expense less the year-over-year growth rate of total operating expenses. Positive operating leverage indicates that the revenue growth rate was greater than the expense growth rate.
Note: Ratios and variance percentages are calculated based on the displayed amounts.
NM Not meaningful.
N/D Not disclosed.
Reclassified to conform to the current period's presentation.
Page 1
CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Revenues
Interest income (including dividends)
$
12,534
$
12,463
$
12,650
$
12,828
$
13,151
$
15,630
$
19,919
$
25,708
$
29,395
$
32,647
$
34,837
$
36,379
Interest expense
2,028
1,985
1,959
2,009
2,280
3,666
7,356
12,438
16,047
18,747
21,009
22,555
Net interest income (NII)
10,506
10,478
10,691
10,819
10,871
11,964
12,563
13,270
13,348
13,900
13,828
13,824
Commissions and fees
3,606
3,301
3,317
3,138
2,482
2,373
2,052
1,912
2,283
2,020
2,082
2,124
Principal transactions
3,805
2,159
2,236
1,608
4,540
4,459
2,349
1,811
3,465
2,047
2,440
329
Administration and other fiduciary fees
961
1,022
1,007
953
966
1,023
915
880
896
989
971
925
Realized gains (losses) on sales of investments, net
401
137
117
10
80
(58)
52
(7)
72
49
30
37
Net impairment losses on investments recognized in earnings
(69)
(13)
(31)
(96)
(90)
(94)
(86)
(224)
(87)
(70)
(71)
(99)
Other revenue (loss)
393
596
28
494
251
(108)
576
260
1,387
389
746
212
Total non-interest revenues (NIR)
9,097
7,202
6,674
6,107
8,229
7,595
5,858
4,632
8,016
5,424
6,198
3,528
Total revenues, net of interest expense
19,603
17,680
17,365
16,926
19,100
19,559
18,421
17,902
21,364
19,324
20,026
17,352
Provisions for credit losses and for benefits and claims
Net credit losses on loans
1,748
1,320
961
866
872
850
887
1,180
1,302
1,504
1,637
1,994
Credit reserve build / (release) for loans
(3,227)
(2,446)
(1,149)
(1,176)
(612)
534
441
593
435
257
179
478
Provision for credit losses on loans
(1,479)
(1,126)
(188)
(310)
260
1,384
1,328
1,773
1,737
1,761
1,816
2,472
Provision for credit losses on held-to-maturity (HTM) debt securities
(11)
4
(10)
14
(2)
20
10
5
(17)
(4)
(3)
-
Provision for credit losses on other assets
9
(3)
(3)
(3)
(4)
7
73
-
425
149
56
1,132
Policyholder benefits and claims
52
15
22
27
27
22
25
20
24
14
25
24
Provision for credit losses on unfunded lending commitments
(626)
44
(13)
(193)
474
(159)
(71)
47
(194)
(96)
(54)
(81)
Total provisions for credit losses and for benefits and claims
(2,055)
(1,066)
(192)
(465)
755
1,274
1,365
1,845
1,975
1,824
1,840
3,547
Operating expenses
Compensation and benefits
6,001
5,982
6,058
7,093
6,820
6,472
6,745
6,618
7,538
7,388
7,424
6,882
Technology / communication
1,852
1,895
1,997
2,084
2,016
2,068
2,145
2,358
2,127
2,309
2,256
2,414
Transactional and product servicing
1,010
1,007
988
1,033
986
1,018
949
946
934
992
974
1,080
Premises and equipment
576
558
560
620
543
619
557
601
598
595
620
695
Professional services
558
603
639
744
548
622
635
676
479
552
512
535
Advertising and marketing
270
340
402
478
311
414
407
424
331
361
324
377
Restructuring
-
-
-
-
-
-
-
-
-
-
-
781
Other operating
1,082
1,013
1,051
1,389
1,855
1,101
1,224
1,258
1,199
1,261
1,288
3,144
Total operating expenses
11,349
11,398
11,695
13,441
13,079
12,314
12,662
12,881
13,206
13,458
13,398
15,908
Income (loss) from continuing operations before income taxes
10,309
7,348
5,862
3,950
5,266
5,971
4,394
3,176
6,183
4,042
4,788
(2,103)
Provision (benefit) for income taxes
2,332
1,155
1,193
771
941
1,182
879
640
1,531
1,090
1,203
(296)
Income (loss) from continuing operations
7,977
6,193
4,669
3,179
4,325
4,789
3,515
2,536
4,652
2,952
3,585
(1,807)
Discontinued operations
Income (loss) from discontinued operations
(2)
10
(1)
-
(2)
(262)
(6)
(2)
(1)
(1)
2
(1)
Provision (benefit) for income taxes
-
-
-
-
-
(41)
-
-
-
-
-
-
Income (loss) from discontinued operations, net of taxes
(2)
10
(1)
-
(2)
(221)
(6)
(2)
(1)
(1)
2
(1)
Net income (loss) before attribution to noncontrolling interests
7,975
6,203
4,668
3,179
4,323
4,568
3,509
2,534
4,651
2,951
3,587
(1,808)
Noncontrolling interests
33
10
24
6
17
21
30
21
45
36
41
31
Citigroup's net income (loss)
$
7,942
$
6,193
$
4,644
$
3,173
$
4,306
$
4,547
$
3,479
$
2,513
$
4,606
$
2,915
$
3,546
$
(1,839)
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 2
CITIGROUP CONSOLIDATED STATEMENT OF INCOME
(In millions of dollars)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Revenues
Interest income (including dividends)
$
36,223
$
35,987
$
36,456
$
35,047
$
33,666
$
35,859
$
36,690
$
36,649
$
50,475
$
74,408
$
133,258
$
143,713
$
142,864
Interest expense
22,716
22,494
23,094
21,314
19,654
20,684
21,750
20,984
7,981
25,740
78,358
89,618
83,072
Net interest income (NII)
13,507
13,493
13,362
13,733
14,012
15,175
14,940
15,665
42,494
48,668
54,900
54,095
59,792
Commissions and fees
2,636
2,555
2,589
2,456
2,707
2,745
2,888
2,829
13,362
8,819
8,509
10,236
11,169
Principal transactions
3,103
2,718
2,835
2,453
3,510
2,503
2,772
1,450
9,808
13,159
8,281
11,109
10,235
Administration and other fiduciary fees
1,037
1,046
1,059
992
1,045
1,123
1,117
1,129
3,943
3,784
3,781
4,134
4,414
Realized gains (losses) on sales of investments, net
115
23
72
118
121
138
105
107
665
67
188
328
471
Net impairment losses on investments recognized in earnings
(30)
(21)
(41)
(338)
(58)
(35)
(25)
(234)
(209)
(494)
(327)
(430)
(352)
Other revenue (loss)
648
218
333
51
259
19
293
(1,075)
1,511
979
2,734
1,250
(504)
Total non-interest revenues (NIR)
7,509
6,539
6,847
5,732
7,584
6,493
7,150
4,206
29,080
26,314
23,166
26,627
25,433
Total revenues, net of interest expense
21,016
20,032
20,209
19,465
21,596
21,668
22,090
19,871
71,574
74,982
78,066
80,722
85,225
Provisions for credit losses and for benefits and claims
Net credit losses on loans
2,303
2,283
2,172
2,242
2,459
2,234
2,214
2,190
4,895
3,789
6,437
9,000
9,097
Credit reserve build / (release) for loans
119
76
210
321
102
243
45
10
(7,998)
956
1,349
726
400
Provision for credit losses on loans
2,422
2,359
2,382
2,563
2,561
2,477
2,259
2,200
(3,103)
4,745
7,786
9,726
9,497
Provision for credit losses on held-to-maturity (HTM) debt securities
10
(5)
50
(5)
(5)
7
(5)
15
(3)
33
(24)
50
12
Provision for credit losses on other assets
4
112
110
136
39
381
79
(32)
-
76
1,762
362
467
Policyholder benefits and claims
27
18
28
17
20
26
17
24
116
94
87
90
87
Provision for credit losses on unfunded lending commitments
(98)
(8)
105
(118)
108
(19)
100
13
(788)
291
(425)
(119)
202
Total provisions for credit losses and for benefits and claims
2,365
2,476
2,675
2,593
2,723
2,872
2,450
2,220
(3,778)
5,239
9,186
10,109
10,265
Operating expenses
Compensation and benefits
7,673
6,888
7,058
6,923
7,464
7,633
7,474
7,068
25,134
26,655
29,232
28,542
29,639
Technology / communication
2,246
2,238
2,273
2,278
2,379
2,290
2,325
2,429
7,828
8,587
9,106
9,035
9,423
Transactional and product servicing
1,111
1,122
1,103
1,102
1,102
1,184
1,110
1,179
4,038
3,899
3,980
4,438
4,575
Premises and equipment
585
597
606
650
574
615
607
681
2,314
2,320
2,508
2,438
2,477
Professional services
426
449
491
650
476
510
514
573
2,544
2,481
2,078
2,016
2,073
Advertising and marketing
228
280
282
323
250
269
260
318
1,490
1,556
1,393
1,113
1,097
Restructuring
225
36
9
(11)
(3)
(2)
(5)
(4)
-
-
781
259
(14)
Other operating
1,613
1,636
1,322
1,155
1,183
1,078
2,005
1,596
4,535
5,438
6,892
5,726
5,862
Total operating expenses
14,107
13,246
13,144
13,070
13,425
13,577
14,290
13,840
47,883
50,936
55,970
53,567
55,132
Income (loss) from continuing operations before income taxes
4,544
4,310
4,390
3,802
5,448
5,219
5,350
3,811
27,469
18,807
12,910
17,046
19,828
Provision (benefit) for income taxes
1,136
1,047
1,116
912
1,340
1,186
1,559
1,288
5,451
3,642
3,528
4,211
5,373
Income (loss) from continuing operations
3,408
3,263
3,274
2,890
4,108
4,033
3,791
2,523
22,018
15,165
9,382
12,835
14,455
Discontinued operations
Income (loss) from discontinued operations
(1)
-
(1)
-
(1)
-
(1)
(1)
7
(272)
(1)
(2)
(3)
Provision (benefit) for income taxes
-
-
-
-
-
-
-
-
-
(41)
-
-
-
Income (loss) from discontinued operations, net of taxes
(1)
-
(1)
-
(1)
-
(1)
(1)
7
(231)
(1)
(2)
(3)
-
Net income (loss) before attribution to noncontrolling interests
3,407
3,263
3,273
2,890
4,107
4,033
3,790
2,522
22,025
14,934
9,381
12,833
14,452
Noncontrolling interests
36
46
35
34
43
14
38
51
73
89
153
151
146
Citigroup's net income (loss)
$
3,371
$
3,217
$
3,238
$
2,856
$
4,064
$
4,019
$
3,752
$
2,471
$
21,952
$
14,845
$
9,228
$
12,682
$
14,306
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 2
CITIGROUP CONSOLIDATED BALANCE SHEET
(In millions of dollars)
March 31,
June 30,
September 30,
December 31,
March 31,
June 30,
September 30,
December 31,
March 31,
June 30,
September 30,
December 31,
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Assets
Cash and due from banks (including segregated cash and other deposits)
$
26,204
$
27,117
$
28,906
$
27,515
$
27,768
$
24,902
$
26,502
$
30,577
$
26,224
$
25,763
$
26,548
$
27,342
Deposits with banks, net of allowance
298,478
272,121
294,902
234,518
244,319
259,128
273,105
311,448
302,735
271,145
227,439
233,590
Securities borrowed and purchased under agreements to resell, net of allowance
315,072
309,047
337,696
327,288
345,410
361,334
349,214
365,401
384,198
337,103
335,059
345,700
Brokerage receivables, net of allowance
60,465
61,138
59,487
54,340
89,218
80,486
79,696
54,192
55,491
60,850
66,194
53,915
Trading account assets
360,659
370,950
342,914
331,945
357,997
340,875
358,260
334,114
383,906
423,189
406,368
411,756
Investments
Available-for-sale debt securities
304,036
302,977
295,573
288,522
264,774
238,499
232,143
249,679
240,487
237,334
241,783
256,936
Held-to-maturity debt securities, net of allowance
161,742
176,742
198,056
216,963
242,547
267,592
267,864
268,863
264,342
262,066
259,456
254,247
Equity securities
7,181
7,344
7,220
7,337
7,281
7,787
8,009
8,040
7,749
7,745
7,759
7,902
Total investments
472,959
487,063
500,849
512,822
514,602
513,878
508,016
526,582
512,578
507,145
508,998
519,085
Loans
Consumer(2)
375,532
380,804
369,292
376,534
350,328
355,605
357,583
368,067
363,696
374,591
377,714
389,197
Corporate(3)
290,456
296,030
295,472
291,233
309,341
301,728
288,377
289,154
288,299
286,021
288,634
300,165
Loans, net of unearned income
665,988
676,834
664,764
667,767
659,669
657,333
645,960
657,221
651,995
660,612
666,348
689,362
Allowance for credit losses on loans (ACLL)
(21,638)
(19,238)
(17,715)
(16,455)
(15,393)
(15,952)
(16,309)
(16,974)
(17,169)
(17,496)
(17,629)
(18,145)
Total loans, net
644,350
657,596
647,049
651,312
644,276
641,381
629,651
640,247
634,826
643,116
648,719
671,217
Goodwill
21,905
22,060
21,573
21,299
19,865
19,597
19,326
19,691
19,882
19,998
19,829
20,098
Intangible assets (including MSRs)
4,741
4,687
4,553
4,495
4,522
4,526
4,485
4,428
4,632
4,576
4,540
4,421
Premises and equipment, net of depreciation and amortization
23,379
23,658
23,671
24,328
24,624
24,788
25,157
26,253
27,119
27,818
27,959
28,747
Other assets, net of allowance
86,054
92,431
100,276
101,551
121,504
110,009
107,652
103,743
103,522
102,972
96,824
95,963
Total assets
$
2,314,266
$
2,327,868
$
2,361,876
$
2,291,413
$
2,394,105
$
2,380,904
$
2,381,064
$
2,416,676
$
2,455,113
$
2,423,675
$
2,368,477
$
2,411,834
Liabilities
Non-interest-bearing deposits in U.S. offices
$
138,192
$
149,373
$
145,103
$
158,552
$
153,666
$
147,214
$
135,514
$
122,655
$
123,969
$
109,844
$
104,061
$
112,089
Interest-bearing deposits in U.S. offices
497,335
485,589
567,902
543,283
557,327
565,785
570,920
607,470
587,477
590,700
569,428
576,784
Total U.S. deposits
635,527
634,962
713,005
701,835
710,993
712,999
706,434
730,125
711,446
700,544
673,489
688,873
Non-interest-bearing deposits in offices outside the U.S.
101,662
101,723
94,016
97,270
98,579
100,266
98,904
95,182
90,404
91,899
84,663
88,988
Interest-bearing deposits in offices outside the U.S.
563,786
573,596
540,507
518,125
524,139
508,583
501,148
540,647
528,609
527,424
515,354
530,820
Total international deposits
665,448
675,319
634,523
615,395
622,718
608,849
600,052
635,829
619,013
619,323
600,017
619,808
Total deposits
1,300,975
1,310,281
1,347,528
1,317,230
1,333,711
1,321,848
1,306,486
1,365,954
1,330,459
1,319,867
1,273,506
1,308,681
Securities loaned and sold under agreements to repurchase
219,168
221,817
209,184
191,285
204,494
198,472
203,429
202,444
257,681
260,035
256,770
278,107
Brokerage payables
60,907
59,416
60,501
61,430
91,324
96,474
87,841
69,218
76,708
69,433
75,076
63,539
Trading account liabilities
179,117
174,706
179,286
161,529
188,059
180,453
196,479
170,647
185,010
170,664
164,624
155,345
Short-term borrowings
32,087
31,462
29,683
27,973
30,144
40,054
47,368
47,096
40,187
40,430
43,166
37,457
Long-term debt
256,335
264,575
258,274
254,374
253,954
257,425
253,068
271,606
279,684
274,510
275,760
286,619
Other liabilities, plus allowances(4)
62,404
62,701
75,810
74,920
94,066
86,552
87,276
87,873
76,365
79,314
69,380
75,835
Total liabilities
$
2,110,993
$
2,124,958
$
2,160,266
$
2,088,741
$
2,195,752
$
2,181,278
$
2,181,947
$
2,214,838
$
2,246,094
$
2,214,253
$
2,158,282
$
2,205,583
Stockholders' equity
Preferred stock
$
20,280
$
17,995
$
17,995
$
18,995
$
18,995
$
18,995
$
18,995
$
18,995
$
20,245
$
20,245
$
19,495
$
17,600
Common stock
31
31
31
31
31
31
31
31
31
31
31
31
Additional paid-in capital(5)
107,694
107,820
107,922
108,003
108,050
108,210
108,347
108,458
108,369
108,579
108,757
108,955
Retained earnings
174,816
179,686
183,024
184,948
187,962
191,261
193,462
194,734
198,353
199,976
202,135
198,905
Treasury stock, at cost
(65,261)
(68,253)
(71,246)
(71,240)
(73,744)
(73,988)
(73,977)
(73,967)
(73,262)
(74,247)
(74,738)
(75,238)
Accumulated other comprehensive income (loss) (AOCI)(5)(6)
(35,011)
(35,120)
(36,851)
(38,765)
(43,585)
(45,495)
(48,298)
(47,062)
(45,441)
(45,865)
(46,177)
(44,800)
Total common equity
$
182,269
$
184,164
$
182,880
$
182,977
$
178,714
$
180,019
$
179,565
$
182,194
$
188,050
$
188,474
$
190,008
$
187,853
Total Citigroup stockholders' equity
$
202,549
$
202,159
$
200,875
$
201,972
$
197,709
$
199,014
$
198,560
$
201,189
$
208,295
$
208,719
$
209,503
$
205,453
Noncontrolling interests(5)
724
751
735
700
644
612
557
649
724
703
692
798
Total equity
203,273
202,910
201,610
202,672
198,353
199,626
199,117
201,838
209,019
209,422
210,195
206,251
Total liabilities and equity
$
2,314,266
$
2,327,868
$
2,361,876
$
2,291,413
$
2,394,105
$
2,380,904
$
2,381,064
$
2,416,676
$
2,455,113
$
2,423,675
$
2,368,477
$
2,411,834
(1) Not used.
(2) Consumer loans include loans managed by USCC, Wealth, and All Other—Legacy Franchises (other than Mexico small business and middle-market banking (Mexico SBMM), and the Assets Finance Group (AFG)).
(3) Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM, and the AFG.
(4) Includes allowance for credit losses for unfunded lending commitments. See page 19.
(5) The December 31, 2025 balances includes the impact from the sale of the 25% equity stake in Grupo Financiero Banamex, S.A. de C.V.
(6) Included within AOCI is the Cumulative Translation Adjustment (CTA), net of hedges and taxes, attributable to Grupo Financiero Banamex, S.A. de C.V. and its consolidated subsidiaries as of June 30, 2025 and September 30, 2025. During the quarter of deconsolidation, the CTA loss will be recognized through earnings, impacting EPS and RoTCE, and reversing the temporary capital benefit from prior sales; the cumulative impact of CTA will ultimately be regulatory capital neutral.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 3
CITIGROUP CONSOLIDATED BALANCE SHEET
(In millions of dollars)
March 31,
June 30,
September 30,
December 31,
March 31,
June 30,
September 30,
December 31,
2024
2024
2024
2024
2025
2025
2025
2025
Assets
Cash and due from banks (including segregated cash and other deposits)
$
25,174
$
26,917
$
25,266
$
22,782
$
24,463
$
24,991
$
23,545
$
23,717
Deposits with banks, net of allowance
247,556
219,217
277,828
253,750
283,868
312,482
324,515
325,862
Securities borrowed and purchased under agreements to resell, net of allowance
344,264
317,970
285,928
274,062
390,215
323,892
321,347
356,195
Brokerage receivables, net of allowance
61,314
64,563
63,653
50,841
57,440
64,029
75,992
62,679
Trading account assets
431,468
446,339
458,072
442,747
518,577
568,558
562,254
537,139
Investments
Available-for-sale debt securities
254,898
249,362
234,444
226,876
225,180
235,802
246,227
246,720
Held-to-maturity debt securities, net of allowance
252,459
251,125
248,274
242,382
220,385
206,094
197,092
189,831
Equity securities
7,826
7,789
7,953
7,399
7,323
7,504
7,413
7,678
Total investments
515,183
508,276
490,671
476,657
452,888
449,400
450,732
444,229
Loans
Consumer(2)
381,759
386,117
389,151
393,102
386,312
395,759
398,628
408,533
Corporate(3)
292,819
301,605
299,771
301,386
315,744
329,586
335,277
343,697
Loans, net of unearned income
674,578
687,722
688,922
694,488
702,056
725,345
733,905
752,230
Allowance for credit losses on loans (ACLL)
(18,296)
(18,216)
(18,356)
(18,574)
(18,726)
(19,123)
(19,206)
(19,247)
Total loans, net
656,282
669,506
670,566
675,914
683,330
706,222
714,699
732,983
Goodwill
20,042
19,704
19,691
19,300
19,422
19,878
19,126
19,098
Intangible assets (including MSRs)
4,338
4,226
4,121
4,494
4,430
4,409
4,330
4,284
Premises and equipment, net of depreciation and amortization
29,188
29,399
30,096
30,192
30,814
32,312
32,819
33,339
Other assets, net of allowance
97,701
99,569
104,771
102,206
106,067
116,599
113,116
117,677
Total assets
$
2,432,510
$
2,405,686
$
2,430,663
$
2,352,945
$
2,571,514
$
2,622,772
$
2,642,475
$
2,657,202
Liabilities
Non-interest-bearing deposits in U.S. offices
$
112,535
$
117,607
$
118,034
$
123,338
$
122,472
$
119,898
$
116,921
$
121,610
Interest-bearing deposits in U.S. offices
570,259
546,772
558,461
551,547
562,628
575,709
592,728
613,052
Total U.S. deposits
682,794
664,379
676,495
674,885
685,100
695,607
709,649
734,662
Non-interest-bearing deposits in offices outside the U.S.
87,936
83,150
84,913
84,349
82,215
86,458
83,920
87,041
Interest-bearing deposits in offices outside the U.S.
536,433
530,608
548,591
525,224
549,095
575,668
590,360
581,870
Total international deposits
624,369
613,758
633,504
609,573
631,310
662,126
674,280
668,911
Total deposits
1,307,163
1,278,137
1,309,999
1,284,458
1,316,410
1,357,733
1,383,929
1,403,573
Securities loaned and sold under agreements to repurchase
299,387
305,206
278,377
254,755
403,959
347,913
349,726
348,098
Brokerage payables
73,013
73,621
81,186
66,601
78,302
90,949
89,596
74,836
Trading account liabilities
156,652
151,259
142,534
133,846
148,688
163,952
160,243
162,798
Short-term borrowings
31,910
38,694
41,340
48,505
49,139
55,560
54,760
51,878
Long-term debt
285,495
280,321
299,081
287,300
295,684
317,761
315,846
315,827
Other liabilities, plus allowances(4)
71,492
69,304
68,244
68,114
66,074
74,774
74,498
86,370
Total liabilities
$
2,225,112
$
2,196,542
$
2,220,761
$
2,143,579
$
2,358,256
$
2,408,642
$
2,428,598
$
2,443,380
Stockholders' equity
Preferred stock
$
17,600
$
18,100
$
16,350
$
17,850
$
18,350
$
16,350
$
19,050
$
20,050
Common stock
31
31
31
31
31
31
31
31
Additional paid-in capital(5)
108,592
108,785
108,969
109,117
108,616
108,839
109,010
108,452
Retained earnings
200,956
202,913
204,770
206,294
209,013
211,674
214,034
215,128
Treasury stock, at cost
(74,865)
(74,842)
(75,840)
(76,842)
(77,880)
(79,886)
(84,932)
(89,473)
Accumulated other comprehensive income (loss) (AOCI)(5)(6)
(45,729)
(46,677)
(45,197)
(47,852)
(45,722)
(43,786)
(44,170)
(41,897)
Total common equity
$
188,985
$
190,210
$
192,733
$
190,748
$
194,058
$
196,872
$
193,973
$
192,241
Total Citigroup stockholders' equity
$
206,585
$
208,310
$
209,083
$
208,598
$
212,408
$
213,222
$
213,023
$
212,291
Noncontrolling interests(5)
813
834
819
768
850
908
854
1,531
Total equity
207,398
209,144
209,902
209,366
213,258
214,130
213,877
213,822
Total liabilities and equity
$
2,432,510
$
2,405,686
$
2,430,663
$
2,352,945
$
2,571,514
$
2,622,772
$
2,642,475
$
2,657,202
(1) Not used.
(2) Consumer loans include loans managed by USCC, Wealth, and All Other—Legacy Franchises (other than Mexico small business and middle-market banking (Mexico SBMM), and the Assets Finance Group (AFG)).
(3) Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM, and the AFG.
(4) Includes allowance for credit losses for unfunded lending commitments. See page 19.
(5) The December 31, 2025 balances includes the impact from the sale of the 25% equity stake in Grupo Financiero Banamex, S.A. de C.V.
(6) Included within AOCI is the Cumulative Translation Adjustment (CTA), net of hedges and taxes, attributable to Grupo Financiero Banamex, S.A. de C.V. and its consolidated subsidiaries as of June 30, 2025 and September 30, 2025. During the quarter of deconsolidation, the CTA loss will be recognized through earnings, impacting EPS and RoTCE, and reversing the temporary capital benefit from prior sales; the cumulative impact of CTA will ultimately be regulatory capital neutral.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 3
OPERATING SEGMENT, REPORTING UNIT, AND COMPONENT DETAILS
(In millions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
Revenues, net of interest expense
Services
$
3,001
$
3,137
$
3,134
$
3,267
$
3,468
$
4,071
$
4,203
$
4,390
$
4,572
$
4,712
$
4,792
Markets
6,146
4,658
4,684
3,620
6,239
5,469
4,418
4,275
5,790
4,900
4,746
Banking
2,124
1,849
2,055
1,998
1,502
1,739
925
628
932
927
1,120
Wealth
2,539
2,481
2,484
2,367
2,456
2,494
2,425
2,243
2,319
2,330
2,411
U.S. Consumer Cards (USCC)
3,397
3,156
3,302
3,354
3,393
3,467
3,689
3,793
4,071
3,988
4,258
All Other—managed basis(1)(2)
2,396
2,399
2,363
2,333
2,089
2,241
2,147
2,364
2,662
2,473
2,303
Reconciling Items—divestiture-related impacts(3)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
Total net revenues—reported
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
Income (loss) from continuing operations
Services
$
915
$
1,015
$
915
$
947
$
665
$
1,545
$
1,637
$
1,484
$
1,446
$
1,367
$
1,492
Markets
2,933
1,645
1,427
689
2,498
1,873
941
888
1,890
1,233
1,065
Banking
1,718
919
762
767
(367)
550
(205)
(201)
(135)
(141)
(34)
Wealth
639
511
452
108
178
35
27
(87)
(66)
(137)
(26)
USCC
1,932
1,392
1,560
1,612
1,795
620
863
334
650
682
914
All Other—managed basis(1)(2)
(160)
711
133
118
144
131
(4)
5
219
40
(40)
Reconciling Items—divestiture-related impacts(3)
-
-
(580)
(1,062)
(588)
35
256
113
648
(92)
214
Income (loss) from continuing operations—reported
7,977
6,193
4,669
3,179
4,325
4,789
3,515
2,536
4,652
2,952
3,585
Discontinued operations
(2)
10
(1)
-
(2)
(221)
(6)
(2)
(1)
(1)
2
Net income (loss) attributable to noncontrolling interests
33
10
24
6
17
21
30
21
45
36
41
Net income (loss)
$
7,942
$
6,193
$
4,644
$
3,173
$
4,306
$
4,547
$
3,479
$
2,513
$
4,606
$
2,915
$
3,546
(1) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal, and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses, and income taxes, as well as Corporate Treasury investment activities and discontinued operations.
(2) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (SBMM), collectively (Mexico Consumer/SBMM)) within Legacy Franchises. See pages 12 and 14 for additional information.
(3) Reconciling Items consist of the divestiture-related impacts excluded from All Other on a managed basis. See page 14 for additional information. The Reconciling Items are fully reflected in the various line items in Citi's Consolidated Statement of Income (page 2). See page 14 for additional information.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 4
OPERATING SEGMENT, REPORTING UNIT, AND COMPONENT DETAILS
(In millions of dollars)
Full
Full
Full
Full
Full
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2023
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Revenues, net of interest expense
Services
$
4,561
$
5,043
$
4,914
$
5,207
$
5,104
$
5,204
$
5,430
$
5,730
$
6,272
$
12,539
$
16,132
$
18,637
$
20,268
$
22,636
Markets
3,452
5,405
5,124
4,910
4,612
6,075
5,980
5,745
4,609
19,108
20,401
18,888
20,051
22,409
Banking
930
1,354
1,304
1,336
1,324
1,530
1,434
1,647
1,773
8,026
4,794
3,909
5,318
6,384
Wealth
2,271
2,254
2,368
2,514
2,597
2,757
2,814
2,839
2,862
9,871
9,618
9,331
9,733
11,272
U.S. Consumer Cards (USCC)
4,249
4,542
4,271
4,445
4,547
4,567
4,471
4,656
4,564
13,209
14,342
16,566
17,805
18,258
All Other—managed basis(1)(2)
1,951
2,430
2,018
1,796
1,277
1,463
1,716
1,471
(208)
9,491
8,841
9,389
7,521
4,442
Reconciling Items—divestiture-related impacts(3)
(62)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total net revenues—reported
$
17,352
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
19,871
$
71,574
$
74,982
$
78,066
$
80,722
$
85,225
Income (loss) from continuing operations
Services
$
832
$
1,728
$
1,679
$
1,829
$
1,842
$
1,849
$
1,728
$
2,098
$
2,512
$
3,792
$
5,331
$
5,137
$
7,078
$
8,187
Markets
(62)
1,460
1,500
1,161
1,054
1,862
1,824
1,723
856
6,694
6,200
4,126
5,175
6,265
Banking
(332)
238
164
39
420
222
91
267
355
4,166
(223)
(642)
861
935
Wealth
(115)
(15)
50
94
171
191
385
303
299
1,710
153
(344)
300
1,178
USCC
337
537
281
711
555
838
758
929
884
6,496
3,612
2,583
2,084
3,409
All Other—managed basis(1)(2)
(2,356)
(446)
(379)
(515)
(1,116)
(839)
(573)
(752)
(2,273)
802
276
(2,137)
(2,456)
(4,437)
Reconciling Items—divestiture-related impacts(3)
(111)
(94)
(32)
(45)
(36)
(15)
(180)
(777)
(110)
(1,642)
(184)
659
(207)
(1,082)
Income (loss) from continuing operations—reported
(1,807)
3,408
3,263
3,274
2,890
4,108
4,033
3,791
2,523
22,018
15,165
9,382
12,835
14,455
Discontinued operations
(1)
(1)
-
(1)
-
(1)
-
(1)
(1)
7
(231)
(1)
(2)
(3)
Net income (loss) attributable to noncontrolling interests
31
36
46
35
34
43
14
38
51
73
89
153
151
146
Net income (loss)
$
(1,839)
$
3,371
$
3,217
$
3,238
$
2,856
$
4,064
$
4,019
$
3,752
$
2,471
$
21,952
$
14,845
$
9,228
$
12,682
$
14,306
(1) Includes Legacy Franchises and certain unallocated costs of global staff functions (including finance, risk, human resources, legal, and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses, and income taxes, as well as Corporate Treasury investment activities and discontinued operations.
(2) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (SBMM), collectively (Mexico Consumer/SBMM)) within Legacy Franchises. See pages 12 and 14 for additional information.
(3) Reconciling Items consist of the divestiture-related impacts excluded from All Other on a managed basis. See page 14 for additional information. The Reconciling Items are fully reflected in the various line items in Citi's Consolidated Statement of Income (page 2). See page 14 for additional information.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 4
SERVICES
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income (including dividends)
$
1,675
$
1,707
$
1,689
$
1,795
$
2,035
$
2,485
$
2,794
$
3,051
$
3,126
$
3,243
$
3,440
$
3,442
Fee revenue
Commissions and fees
577
625
656
669
674
759
717
702
739
763
758
825
Administration and other fiduciary fees
591
633
613
603
618
681
604
580
604
661
630
606
Total fee revenue
1,168
1,258
1,269
1,272
1,292
1,440
1,321
1,282
1,343
1,424
1,388
1,431
Principal transactions
139
173
174
183
141
121
75
41
58
(7)
(90)
(333)
All other
19
(1)
2
17
-
25
13
16
45
52
54
21
Total non-interest revenue
1,326
1,430
1,445
1,472
1,433
1,586
1,409
1,339
1,446
1,469
1,352
1,119
Total revenues, net of interest expense
3,001
3,137
3,134
3,267
3,468
4,071
4,203
4,390
4,572
4,712
4,792
4,561
Total operating expenses
1,918
1,851
1,928
1,985
2,230
1,995
2,099
2,375
2,407
2,482
2,496
2,606
Net credit losses (recoveries) on loans
-
22
1
19
15
32
(3)
7
6
13
27
(6)
Credit reserve build (release) for loans
(107)
(96)
(37)
(8)
241
(7)
(107)
1
(72)
(14)
6
127
Provision (release) for credit losses on unfunded lending commitments
(37)
(2)
-
(22)
73
(24)
(6)
(19)
7
(26)
23
(22)
Provisions for credit losses for other assets and HTM debt securities
1
-
-
3
1
1
1
1
45
250
39
547
Provision for credit losses
(143)
(76)
(36)
(8)
330
2
(115)
(10)
(14)
223
95
646
Income from continuing operations before taxes
1,226
1,362
1,242
1,290
908
2,074
2,219
2,025
2,179
2,007
2,201
1,309
Income taxes
311
347
327
343
243
529
582
541
733
640
709
477
Income from continuing operations
915
1,015
915
947
665
1,545
1,637
1,484
1,446
1,367
1,492
832
Noncontrolling interests
1
1
1
3
6
9
10
11
13
16
16
21
Net income
$
914
$
1,014
$
914
$
944
$
659
$
1,536
$
1,627
$
1,473
$
1,433
$
1,351
$
1,476
$
811
EOP assets (in billions)
$
546
$
545
$
565
$
548
$
546
$
544
$
560
$
600
$
585
$
584
$
552
$
586
Average assets (in billions)
539
549
558
581
549
526
530
578
598
584
566
582
Efficiency ratio
64%
59%
62%
61%
64%
49%
50%
54%
53%
53%
52%
57%
Average allocated TCE (in billions)(1)
$
23.9
$
23.9
$
23.9
$
23.9
$
30.3
$
30.3
$
30.3
$
30.3
$
31.5
$
31.5
$
31.5
$
31.5
RoTCE(1)
15.5%
17.0%
15.2%
15.7%
8.8%
20.3%
21.3%
19.3%
18.4%
17.2%
18.6%
10.2%
Revenue by line of business
Net interest income
$
1,460
$
1,491
$
1,461
$
1,551
$
1,776
$
2,168
$
2,389
$
2,551
$
2,612
$
2,718
$
2,868
$
2,887
Non-interest revenue
731
795
832
866
837
910
843
793
891
845
787
599
Treasury and Trade Solutions (TTS)
2,191
2,286
2,293
2,417
2,613
3,078
3,232
3,344
3,503
3,563
3,655
3,486
Net interest income
215
216
228
244
259
317
405
500
514
525
572
555
Non-interest revenue
595
635
613
606
596
676
566
546
555
624
565
520
Securities Services
810
851
841
850
855
993
971
1,046
1,069
1,149
1,137
1,075
Total Services
$
3,001
$
3,137
$
3,134
$
3,267
$
3,468
$
4,071
$
4,203
$
4,390
$
4,572
$
4,712
$
4,792
$
4,561
Revenue by managed geography
North America
$
878
$
958
$
916
$
992
$
1,072
$
1,310
$
1,293
$
1,262
$
1,274
$
1,344
$
1,382
$
1,312
International
2,123
2,179
2,218
2,275
2,396
2,761
2,910
3,128
3,298
3,368
3,410
3,249
Total
$
3,001
$
3,137
$
3,134
$
3,267
$
3,468
$
4,071
$
4,203
$
4,390
$
4,572
$
4,712
$
4,792
$
4,561
Key drivers(2) (in billions of dollars, except as otherwise noted)
Average loans by line of business
TTS
$
68
$
72
$
74
$
76
$
79
$
84
$
80
$
76
$
78
$
79
$
82
$
82
Securities Services
1
2
1
2
2
2
1
2
1
1
1
1
Total
$
69
$
74
$
75
$
78
$
81
$
86
$
81
$
78
$
79
$
80
$
83
$
83
ACLL as a % of EOP loans(3)
0.45%
0.29%
0.24%
0.24%
0.49%
0.58%
0.45%
0.46%
0.36%
0.32%
0.33%
0.47%
NCLs as a % of average loans
0.00%
0.12%
0.01%
0.10%
0.08%
0.15%
(0.01%)
0.04%
0.03%
0.07%
0.13%
(0.03%)
Average deposits by line of business
TTS
$
658
$
658
$
675
$
691
$
671
$
673
$
665
$
695
$
705
$
689
$
677
$
681
Securities Services
128
137
135
140
135
136
131
131
125
125
120
122
Total
$
786
$
795
$
810
$
831
$
806
$
809
$
796
$
826
$
830
$
814
$
797
$
803
AUC/AUA (in trillions of dollars)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
$
20.8
$
21.6
$
22.3
$
21.5
$
23.5
Cross-border transaction value(5)
$
64.5
$
67.8
$
69.0
$
78.2
$
75.6
$
79.3
$
75.6
$
81.1
$
83.0
$
87.8
$
87.8
$
99.4
U.S. dollar clearing volume (in millions)(6)
35.4
36.0
37.0
37.8
36.1
36.7
37.6
38.2
38.3
38.8
40.0
40.2
Commercial card spend volume
$
7.4
$
9.3
$
10.5
$
11.4
$
11.4
$
15.0
$
15.6
$
15.4
$
16.0
$
17.3
$
16.9
$
16.6
(1) TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(2) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(3) Excludes loans that are carried at fair value for all periods.
(4) Not used.
(5) Represents the total value of cross-border foreign exchange payments processed through Citi platforms.
(6) Represents the number of U.S. dollar Clearing Payment instructions processed on behalf of U.S. and foreign-domiciled entities (primarily financial institutions).
NM Not meaningful.
N/A Not available.
Reclassified to conform to the current period's presentation.
Page 5
SERVICES
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income (including dividends)
$
3,317
$
3,225
$
3,435
$
3,446
$
3,498
$
3,630
$
3,823
$
4,050
$
6,866
$
10,365
$
13,251
$
13,423
$
15,001
Fee revenue
Commissions and fees
794
862
834
806
815
904
880
879
2,527
2,852
3,085
3,296
3,478
Administration and other fiduciary fees
685
695
701
635
658
752
746
751
2,440
2,483
2,501
2,716
2,907
Total fee revenue
1,479
1,557
1,535
1,441
1,473
1,656
1,626
1,630
4,967
5,335
5,586
6,012
6,385
Principal transactions
198
129
214
212
233
124
190
257
669
378
(372)
753
804
All other
49
3
23
5
-
20
91
335
37
54
172
80
446
Total non-interest revenue
1,726
1,689
1,772
1,658
1,706
1,800
1,907
2,222
5,673
5,767
5,386
6,845
7,635
Total revenues, net of interest expense
5,043
4,914
5,207
5,104
5,204
5,430
5,730
6,272
12,539
16,132
18,637
20,268
22,636
Total operating expenses
2,663
2,729
2,575
2,601
2,584
2,679
2,707
2,843
7,682
8,699
9,991
10,568
10,813
Net credit losses (recoveries) on loans
6
-
14
28
6
20
11
19
42
51
40
48
56
Credit reserve build (release) for loans
34
(100)
7
(71)
24
53
(4)
(18)
(248)
128
47
(130)
55
Provision (release) for credit losses on unfunded lending commitments
12
2
7
(4)
(6)
(6)
(8)
3
(61)
24
(18)
17
(17)
Provisions for credit losses for other assets and HTM debt securities
12
71
99
159
27
286
62
(15)
4
4
881
341
360
Provision for credit losses
64
(27)
127
112
51
353
61
(11)
(263)
207
950
276
454
Income from continuing operations before taxes
2,316
2,212
2,505
2,391
2,569
2,398
2,962
3,440
5,120
7,226
7,696
9,424
11,369
Income taxes
588
533
676
549
720
670
864
928
1,328
1,895
2,559
2,346
3,182
Income from continuing operations
1,728
1,679
1,829
1,842
1,849
1,728
2,098
2,512
3,792
5,331
5,137
7,078
8,187
Noncontrolling interests
25
27
32
17
15
16
17
16
6
36
66
101
64
Net income
$
1,703
$
1,652
$
1,797
$
1,825
$
1,834
$
1,712
$
2,081
$
2,496
$
3,786
$
5,295
$
5,071
$
6,977
$
8,123
EOP assets (in billions)
$
577
$
569
$
608
$
584
$
589
$
618
$
627
$
628
$
548
$
600
$
586
$
584
$
628
Average assets (in billions)
580
575
591
596
578
593
616
630
557
546
583
586
604
Efficiency ratio
53%
56%
49%
51%
50%
49%
47%
45%
61%
54%
54%
52%
48%
Average allocated TCE (in billions)(1)
$
31.2
$
31.2
$
31.2
$
31.2
$
33.0
$
33.0
$
33.0
$
33.0
$
23.9
$
30.3
$
31.5
$
31.2
$
33.0
RoTCE(1)
22.0%
21.3%
22.9%
23.3%
22.5%
20.8%
25.0%
30.0%
15.8%
17.5%
16.1%
22.4%
24.6%
Revenue by line of business
Net interest income
$
2,723
$
2,629
$
2,731
$
2,840
$
2,865
$
2,949
$
3,121
$
3,303
$
5,963
$
8,884
$
11,085
$
10,923
$
12,238
Non-interest revenue
1,049
1,018
1,074
1,039
1,064
1,063
1,099
1,182
3,224
3,383
3,122
4,180
4,408
Treasury and Trade Solutions (TTS)
3,772
3,647
3,805
3,879
3,929
4,012
4,220
4,485
9,187
12,267
14,207
15,103
16,646
Net interest income
594
596
704
606
633
681
702
747
903
1,481
2,166
2,500
2,763
Non-interest revenue
677
671
698
619
642
737
808
1,040
2,449
2,384
2,264
2,665
3,227
Securities Services
1,271
1,267
1,402
1,225
1,275
1,418
1,510
1,787
3,352
3,865
4,430
5,165
5,990
Total Services
$
5,043
$
4,914
$
5,207
$
5,104
$
5,204
$
5,430
$
5,730
$
6,272
$
12,539
$
16,132
$
18,637
$
20,268
$
22,636
Revenue by managed geography
North America
$
1,339
$
1,376
$
1,426
$
1,483
$
1,549
$
1,660
$
1,759
$
1,939
$
3,744
$
4,937
$
5,312
$
5,624
$
6,907
International
3,704
3,538
3,781
3,621
3,655
3,770
3,971
4,333
8,795
11,195
13,325
14,644
15,729
Total
$
5,043
$
4,914
$
5,207
$
5,104
$
5,204
$
5,430
$
5,730
$
6,272
$
12,539
$
16,132
$
18,637
$
20,268
$
22,636
Key drivers(2) (in billions of dollars, except as otherwise noted)
Average loans by line of business
TTS
$
81
$
81
$
86
$
85
$
86
$
93
$
93
$
95
$
72
$
80
$
80
$
84
$
92
Securities Services
1
1
1
2
1
1
1
1
2
2
1
1
1
Total
$
82
$
82
$
87
$
87
$
87
$
94
$
94
$
96
$
74
$
82
$
81
$
85
$
93
ACLL as a % of EOP loans(3)
0.54%
0.37%
0.38%
0.30%
0.30%
0.36%
0.35%
0.33%
NCLs as a % of average loans
0.03%
0.00%
0.06%
0.13%
0.03%
0.09%
0.05%
0.08%
0.06%
0.06%
0.05%
0.06%
0.06%
Average deposits by line of business
TTS
$
684
$
677
$
690
$
704
$
690
$
713
$
744
$
780
$
671
$
676
$
688
$
689
$
732
Securities Services
124
127
135
135
136
144
149
155
135
133
123
130
146
Total
$
808
$
804
$
825
$
839
$
826
$
857
$
893
$
935
$
806
$
809
$
811
$
819
$
878
AUC/AUA (in trillions of dollars)
$
24.0
$
24.2
$
26.3
$
25.4
$
26.1
$
28.2
$
29.7
$
31.4
Cross-border transaction value(5)
$
90.7
$
92.7
$
95.0
$
101.3
$
95.1
$
101.3
$
104.8
$
115.2
$
279.5
$
311.6
$
358.0
$
379.7
$
416.4
U.S. dollar clearing volume (in millions)(6)
39.6
41.6
42.7
44.1
42.7
44.3
44.8
45.3
146.2
148.6
157.3
168.0
177.1
Commercial card spend volume
$
16.8
$
18.0
$
18.3
$
17.3
$
17.2
$
17.9
$
18.4
$
17.7
38.6
57.4
66.8
70.4
71.2
(1) TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(2) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(3) Excludes loans that are carried at fair value for all periods.
(4) Not used.
(5) Represents the total value of cross-border foreign exchange payments processed through Citi platforms.
(6) Represents the number of U.S. dollar Clearing Payment instructions processed on behalf of U.S. and foreign-domiciled entities (primarily financial institutions).
NM Not meaningful.
N/A Not available.
Reclassified to conform to the current period's presentation.
Page 5
MARKETS
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income (including dividends)(1)
$
1,536
$
1,589
$
1,476
$
1,471
$
1,276
$
1,540
$
1,305
$
1,486
$
1,456
$
1,911
$
1,595
$
1,889
Fee revenue
Brokerage and fees
461
366
355
348
429
360
335
328
385
331
337
328
Investment banking fees(2)
139
162
165
194
113
135
128
106
89
97
103
103
Other(3)
52
47
37
40
36
29
34
39
39
31
31
46
Total fee revenue
652
575
557
582
578
524
497
473
513
459
471
477
Principal transactions(1)
3,598
2,209
2,250
1,636
4,406
3,599
2,768
2,342
3,838
2,459
2,577
963
All other(1)
360
285
401
(69)
(21)
(194)
(152)
(26)
(17)
71
103
123
Total non-interest revenue
4,610
3,069
3,208
2,149
4,963
3,929
3,113
2,789
4,334
2,989
3,151
1,563
Total revenues, net of interest expense
6,146
4,658
4,684
3,620
6,239
5,469
4,418
4,275
5,790
4,900
4,746
3,452
Total operating expenses
2,747
2,796
2,811
2,891
3,120
3,075
3,077
3,178
3,166
3,344
3,309
3,434
Net credit losses (recoveries) on loans
4
-
-
6
(6)
3
(2)
1
4
2
(4)
30
Credit reserve build (release) for loans
(229)
(176)
123
(9)
(108)
12
117
29
64
(21)
119
40
Provision (release) for credit losses on unfunded lending commitments
(70)
(10)
7
(27)
5
(11)
(3)
12
(2)
(10)
5
12
Provisions for credit losses for other assets and HTM debt securities
(8)
6
(11)
9
(8)
18
64
(6)
18
12
42
127
Provision for credit losses
(303)
(180)
119
(21)
(117)
22
176
36
84
(17)
162
209
Income (loss) from continuing operations before taxes
3,702
2,042
1,754
750
3,236
2,372
1,165
1,061
2,540
1,573
1,275
(191)
Income taxes (benefits)
769
397
327
61
738
499
224
173
650
340
210
(129)
Income (loss) from continuing operations
2,933
1,645
1,427
689
2,498
1,873
941
888
1,890
1,233
1,065
(62)
Noncontrolling interests
23
4
9
4
11
15
10
16
21
19
15
12
Net income (loss)
$
2,910
$
1,641
$
1,418
$
685
$
2,487
$
1,858
$
931
$
872
$
1,869
$
1,214
$
1,050
$
(74)
EOP assets (in billions)
$
922
$
943
$
942
$
906
$
979
$
977
$
967
$
960
$
1,017
$
1,010
$
1,004
$
1,004
Average assets (in billions)
931
948
936
949
961
994
1,016
993
999
1,036
1,019
1,029
Efficiency ratio
45%
60%
60%
80%
50%
56%
70%
74%
55%
68%
70%
99%
Average allocated TCE (in billions)(4)
$
44.9
$
44.9
$
44.9
$
44.9
$
55.2
$
55.2
$
55.2
$
55.2
$
56.9
$
56.9
$
56.9
$
56.9
RoTCE(4)
26.3%
14.7%
12.5%
6.1%
18.3%
13.5%
6.7%
6.3%
13.3%
8.6%
7.3%
(0.5%)
Revenue by line of business
Fixed Income Markets
$
4,582
$
3,471
$
3,354
$
2,708
$
4,715
$
4,283
$
3,526
$
3,565
$
4,614
$
3,818
$
3,821
$
2,666
Equity Markets
1,564
1,187
1,330
912
1,524
1,186
892
710
1,176
1,082
925
786
Total
$
6,146
$
4,658
$
4,684
$
3,620
$
6,239
$
5,469
$
4,418
$
4,275
$
5,790
$
4,900
$
4,746
$
3,452
Rates and Currencies
$
2,851
$
2,090
$
2,036
$
1,752
$
3,316
$
3,157
$
2,482
$
2,780
$
3,580
$
2,867
$
2,677
$
1,800
Spread Products / Other Fixed Income
1,731
1,381
1,318
956
1,399
1,126
1,044
785
1,034
951
1,144
866
Total Fixed Income Markets revenues
$
4,582
$
3,471
$
3,354
$
2,708
$
4,715
$
4,283
$
3,526
$
3,565
$
4,614
$
3,818
$
3,821
$
2,666
Revenue by managed geography
North America
$
2,508
$
1,692
$
1,767
$
1,346
$
2,036
$
2,071
$
1,614
$
1,253
$
1,996
$
1,739
$
1,833
$
1,301
International
3,638
2,966
2,917
2,274
4,203
3,398
2,804
3,022
3,794
3,161
2,913
2,151
Total
$
6,146
$
4,658
$
4,684
$
3,620
$
6,239
$
5,469
$
4,418
$
4,275
$
5,790
$
4,900
$
4,746
$
3,452
Key drivers(5) (in billions of dollars)
Average loans
$
106
$
113
$
114
$
112
$
111
$
112
$
110
$
110
$
111
$
107
$
108
$
115
NCLs (annualized) as a % of average loans
0.02%
0.00%
0.00%
0.02%
(0.02%)
0.01%
(0.01%)
0.00%
0.01%
0.01%
(0.01%)
0.10%
ACLL as a % of EOP loans(6)
0.66%
0.47%
0.60%
0.57%
0.47%
0.46%
0.57%
0.58%
0.66%
0.67%
0.77%
0.71%
Average trading account assets
$
351
$
346
$
336
$
325
$
322
$
328
$
343
$
331
$
348
$
379
$
389
$
390
(1) Certain interest-rate risk management activities within Markets were moved to Corporate/Other or between businesses within Markets. These changes impact the results for Markets, as well as Corporate/Other.
(2) Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.
(3) Primarily includes other non-brokerage and investment banking fees from customer-driven activities.
(4) TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(5) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(6) Excludes loans that are carried at fair value for all periods.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 6
MARKETS
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income (including dividends)(1)
$
1,617
$
1,954
$
1,308
$
1,765
$
1,924
$
2,824
$
2,178
$
2,761
$
6,072
$
5,607
$
6,851
$
6,644
$
9,687
Fee revenue
Brokerage and fees
336
346
391
329
400
399
400
364
1,530
1,452
1,381
1,402
1,563
Investment banking fees(2)
100
104
118
104
135
106
163
120
660
482
392
426
524
Other(3)
62
62
64
50
52
51
63
57
176
138
147
238
223
Total fee revenue
498
512
573
483
587
556
626
541
2,366
2,072
1,920
2,066
2,310
Principal transactions(1)
3,042
2,616
2,817
2,288
3,285
2,302
2,737
1,155
9,693
13,115
9,837
10,763
9,479
All other(1)
248
42
212
76
279
298
204
152
977
(393)
280
578
933
Total non-interest revenue
3,788
3,170
3,602
2,847
4,151
3,156
3,567
1,848
13,036
14,794
12,037
13,407
12,722
Total revenues, net of interest expense
5,405
5,124
4,910
4,612
6,075
5,980
5,745
4,609
19,108
20,401
18,888
20,051
22,409
Total operating expenses
3,382
3,303
3,338
3,173
3,466
3,508
3,490
3,608
11,245
12,450
13,253
13,196
14,072
Net credit losses (recoveries) on loans
78
66
24
-
142
8
68
(12)
10
(4)
32
168
206
Credit reserve build (release) for loans
120
(111)
37
167
48
53
(44)
(73)
(291)
50
202
213
(16)
Provision (release) for credit losses on unfunded lending commitments
(1)
2
47
(31)
9
(8)
13
(7)
(100)
3
5
17
7
Provisions for credit losses for other assets and HTM debt securities
2
32
33
(2)
2
55
(5)
(12)
(4)
68
199
65
40
Provision for credit losses
199
(11)
141
134
201
108
32
(104)
(385)
117
438
463
237
Income (loss) from continuing operations before taxes
1,824
1,832
1,431
1,305
2,408
2,364
2,223
1,105
8,248
7,834
5,197
6,392
8,100
Income taxes (benefits)
364
332
270
251
546
540
500
249
1,554
1,634
1,071
1,217
1,835
Income (loss) from continuing operations
1,460
1,500
1,161
1,054
1,862
1,824
1,723
856
6,694
6,200
4,126
5,175
6,265
Noncontrolling interests
15
26
17
17
13
21
21
18
40
52
67
75
73
Net income (loss)
$
1,445
$
1,474
$
1,144
$
1,037
$
1,849
$
1,803
$
1,702
$
838
$
6,654
$
6,148
$
4,059
$
5,100
$
6,192
EOP assets (in billions)
$
1,030
$
1,018
$
997
$
948
$
1,162
$
1,164
$
1,179
$
1,185
$
906
$
960
$
1,004
$
948
$
1,185
Average assets (in billions)
1,042
1,059
1,078
1,054
1,118
1,219
1,229
1,247
941
991
1,021
1,058
1,203
Efficiency ratio
63%
64%
68%
69%
57%
59%
61%
78%
59%
61%
70%
66%
63%
Average allocated TCE (in billions)(4)
$
56.6
$
56.6
$
56.6
$
56.6
$
53.5
$
53.5
$
53.5
$
53.5
$
44.9
$
55.2
$
56.9
$
56.6
53.5
RoTCE(4)
10.3%
10.5%
8.0%
7.3%
14.0%
13.5%
12.6%
6.2%
14.8%
11.1%
7.1%
9.0%
11.6%
Revenue by line of business
Fixed Income Markets
$
4,203
$
3,621
$
3,673
$
3,545
$
4,578
$
4,388
$
4,225
$
3,554
$
14,115
$
16,089
$
14,919
$
15,042
$
16,745
Equity Markets
1,202
1,503
1,237
1,067
1,497
1,592
1,520
1,055
4,993
4,312
3,969
5,009
5,664
Total
$
5,405
$
5,124
$
4,910
$
4,612
$
6,075
$
5,980
$
5,745
$
4,609
$
19,108
$
20,401
$
18,888
$
20,051
$
22,409
Rates and Currencies
$
2,822
$
2,459
$
2,517
$
2,427
$
3,116
$
3,221
$
2,963
$
2,449
$
8,729
$
11,735
$
10,924
$
10,225
$
11,749
Spread Products / Other Fixed Income
1,381
1,162
1,156
1,118
1,462
1,167
1,262
1,105
5,386
4,354
3,995
4,817
4,996
Total Fixed Income Markets revenues
$
4,203
$
3,621
$
3,673
$
3,545
$
4,578
$
4,388
$
4,225
$
3,554
$
14,115
$
16,089
$
14,919
$
15,042
$
16,745
Revenue by managed geography
North America
$
2,023
$
1,992
$
1,804
$
1,749
$
2,169
$
2,124
$
2,270
$
1,826
$
7,313
$
6,974
$
6,869
$
7,568
$
8,389
International
3,382
3,132
3,106
2,863
3,906
3,856
3,475
2,783
11,795
13,427
12,019
12,483
14,020
Total
$
5,405
$
5,124
$
4,910
$
4,612
$
6,075
$
5,980
$
5,745
$
4,609
$
19,108
$
20,401
$
18,888
$
20,051
$
22,409
Key drivers(5) (in billions of dollars)
Average loans
$
120
$
119
$
119
$
122
$
128
$
136
$
147
$
152
$
111
$
111
$
110
$
120
$
141
NCLs (annualized) as a % of average loans
0.26%
0.22%
0.08%
0.00%
0.45%
0.02%
0.18%
(0.03%)
0.01%
0.00%
0.03%
0.14%
0.15%
ACLL as a % of EOP loans(6)
0.86%
0.74%
0.77%
0.88%
0.89%
0.85%
0.78%
0.67%
Average trading account assets
$
404
$
423
$
459
$
447
$
474
$
547
$
555
$
556
$
340
$
331
$
377
$
433
$
533
(1) Certain interest-rate risk management activities within Markets were moved to Corporate/Other or between businesses within Markets. These changes impact the results for Markets, as well as Corporate/Other.
(2) Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.
(3) Primarily includes other non-brokerage and investment banking fees from customer-driven activities.
(4) TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(5) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(6) Excludes loans that are carried at fair value for all periods.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 6
BANKING
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income (including dividends)
$
576
$
525
$
615
$
563
$
534
$
551
$
498
$
547
$
513
$
542
$
555
$
551
Fee revenue
Investment banking fees(1)
1,637
1,396
1,512
1,468
916
844
685
607
740
573
694
706
Other(2)
92
107
72
61
47
45
37
46
42
40
40
38
Total fee revenue
1,729
1,503
1,584
1,529
963
889
722
653
782
613
734
744
Principal transactions
(165)
(154)
(131)
(79)
46
445
(236)
(488)
(353)
(240)
(206)
(303)
All other
(16)
(25)
(13)
(15)
(41)
(146)
(59)
(84)
(10)
12
37
(62)
Total non-interest revenue
1,548
1,324
1,440
1,435
968
1,188
427
81
419
385
565
379
Total revenues, net of interest expense
2,124
1,849
2,055
1,998
1,502
1,739
925
628
932
927
1,120
930
Total operating expenses
1,046
1,050
1,095
1,212
1,209
1,226
1,180
845
1,231
1,260
1,225
1,161
Net credit losses on loans
66
63
30
57
22
(17)
6
96
12
57
29
71
Credit reserve build (release) for loans
(751)
(537)
(68)
(174)
479
(79)
68
(147)
(50)
(110)
(22)
(163)
Provision (release) for credit losses on unfunded lending commitments
(498)
56
(17)
(133)
274
(136)
(53)
73
(171)
(56)
(64)
(63)
Provisions for credit losses for other assets and HTM debt securities
2
(2)
2
-
(2)
5
4
11
86
(39)
1
339
Provision for credit losses
(1,181)
(420)
(53)
(250)
773
(227)
25
33
(123)
(148)
(56)
184
Income (loss) from continuing operations before taxes
2,259
1,219
1,013
1,036
(480)
740
(280)
(250)
(176)
(185)
(49)
(415)
Income taxes (benefits)
541
300
251
269
(113)
190
(75)
(49)
(41)
(44)
(15)
(83)
Income (loss) from continuing operations
1,718
919
762
767
(367)
550
(205)
(201)
(135)
(141)
(34)
(332)
Noncontrolling interests
5
1
-
2
-
-
-
(3)
2
1
1
-
Net income (loss)
$
1,713
$
918
$
762
$
765
$
(367)
$
550
$
(205)
$
(198)
$
(137)
$
(142)
$
(35)
$
(332)
EOP assets (in billions)
$
153
$
151
$
149
$
144
$
157
$
155
$
155
$
152
$
147
$
148
$
146
$
148
Average assets (in billions)
160
155
152
153
157
158
162
160
156
155
151
150
Efficiency ratio
49%
57%
53%
61%
80%
71%
128%
135%
132%
136%
109%
125%
Average allocated TCE (in billions)(3)
$
20.2
$
20.2
$
20.2
$
20.2
$
10.2
$
10.2
$
10.2
$
10.2
$
8.9
$
8.9
$
8.9
$
8.9
RoTCE(3)
34.4%
18.2%
15.0%
15.0%
(14.6%)
21.6%
(8.0%)
(7.7%)
(6.2%)
(6.4%)
(1.6%)
(14.8%)
Revenue by line of business
Total Investment Banking
$
1,710
$
1,428
$
1,620
$
1,525
$
908
$
741
$
601
$
610
$
770
$
602
$
780
$
680
Corporate Lending (excluding gain (loss) on loan hedges)(4)
492
458
481
452
425
504
380
318
361
391
387
381
Total Banking revenues (ex-gain (loss) on loan hedges)(4)
2,202
1,886
2,101
1,977
1,333
1,245
981
928
1,131
993
1,167
1,061
Gain (loss) on loan hedges(4)
(78)
(37)
(46)
21
169
494
(56)
(300)
(199)
(66)
(47)
(131)
Total Banking revenues including gain (loss) on loan hedges(4)
$
2,124
$
1,849
$
2,055
$
1,998
$
1,502
$
1,739
$
925
$
628
$
932
$
927
$
1,120
$
930
Business metrics—investment banking fees
Advisory
$
278
$
403
$
533
$
571
$
347
$
345
$
382
$
258
$
276
$
156
$
299
$
286
Equity underwriting (Equity Capital Markets (ECM))
813
444
442
453
183
181
125
132
109
158
123
110
Debt underwriting (Debt Capital Markets (DCM))
546
549
537
444
386
318
178
217
355
259
272
310
Total
$
1,637
$
1,396
$
1,512
$
1,468
$
916
$
844
$
685
$
607
$
740
$
573
$
694
$
706
Revenue by managed geography
North America
$
1,110
$
883
$
1,106
$
1,080
$
809
$
1,030
$
385
$
134
$
334
$
400
$
553
$
389
International
1,014
966
949
918
693
709
540
494
598
527
567
541
Total
$
2,124
$
1,849
$
2,055
$
1,998
$
1,502
$
1,739
$
925
$
628
$
932
$
927
$
1,120
$
930
Key drivers(5) (in billions of dollars)
Average loans
$
107
$
102
$
100
$
100
$
99
$
102
$
101
$
98
$
95
$
93
$
89
$
89
NCLs (annualized) as a % of average loans
0.25%
0.25%
0.12%
0.23%
0.09%
(0.07%)
0.02%
0.39%
0.05%
0.25%
0.13%
0.32%
ACLL as a % of EOP loans(6)
2.22%
1.75%
1.64%
1.52%
1.89%
1.81%
1.99%
1.88%
1.84%
1.74%
1.75%
1.59%
(1)
Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.
(2)
Primarily includes other non-investment banking fees from customer-driven activities.
(3)
TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(4)
Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain (loss) on loan hedges includes the mark-to-market on the credit derivatives, partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain (loss) on loan hedges are non-GAAP financial measures.
(5)
Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(6)
Excludes loans that are carried at fair value for all periods.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 7
BANKING
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income (including dividends)
$
582
$
527
$
527
$
521
$
491
$
530
$
562
$
549
$
2,279
$
2,130
$
2,161
$
2,157
$
2,132
Fee revenue
Investment banking fees(1)
972
935
999
951
1,104
1,058
1,169
1,287
6,013
3,052
2,713
3,857
4,618
Other(2)
42
50
31
51
49
59
65
60
332
175
160
174
233
Total fee revenue
1,014
985
1,030
1,002
1,153
1,117
1,234
1,347
6,345
3,227
2,873
4,031
4,851
Principal transactions
(235)
(136)
(204)
(212)
(90)
(179)
(164)
(119)
(529)
(233)
(1,102)
(787)
(552)
All other
(7)
(72)
(17)
13
(24)
(34)
15
(4)
(69)
(330)
(23)
(83)
(47)
Total non-interest revenue
772
777
809
803
1,039
904
1,085
1,224
5,747
2,664
1,748
3,161
4,252
Total revenues, net of interest expense
1,354
1,304
1,336
1,324
1,530
1,434
1,647
1,773
8,026
4,794
3,909
5,318
6,384
Total operating expenses
1,179
1,131
1,116
1,051
1,034
1,137
1,139
1,152
4,403
4,460
4,877
4,477
4,462
Net credit losses on loans
66
40
36
7
34
16
9
25
216
107
169
149
84
Credit reserve build (release) for loans
(89)
(51)
62
(122)
78
137
38
136
(1,530)
321
(345)
(200)
389
Provision (release) for credit losses on unfunded lending commitments
(96)
(9)
59
(82)
107
2
98
14
(592)
158
(354)
(128)
221
Provisions for credit losses for other assets and HTM debt securities
(10)
(12)
20
(43)
(5)
18
12
1
2
18
387
(45)
26
Provision for credit losses
(129)
(32)
177
(240)
214
173
157
176
(1,904)
604
(143)
(224)
720
Income (loss) from continuing operations before taxes
304
205
43
513
282
124
351
445
5,527
(270)
(825)
1,065
1,202
Income taxes (benefits)
66
41
4
93
60
33
84
90
1,361
(47)
(183)
204
267
Income (loss) from continuing operations
238
164
39
420
222
91
267
355
4,166
(223)
(642)
861
935
Noncontrolling interests
3
3
(2)
1
(1)
(2)
(3)
1
8
(3)
4
5
(5)
Net income (loss)
$
235
$
161
$
41
$
419
$
223
$
93
$
270
$
354
$
4,158
$
(220)
$
(646)
$
856
$
940
EOP assets (in billions)
$
151
$
147
$
151
$
143
$
147
$
148
$
141
$
140
$
144
$
152
$
148
$
143
$
140
Average assets (in billions)
154
152
152
149
144
150
149
146
155
159
153
152
147
Efficiency ratio
87%
87%
84%
79%
68%
79%
69%
65%
55%
93%
125%
84%
70%
Average allocated TCE (in billions)(3)
$
12.8
$
12.8
$
12.8
$
12.8
$
9.2
$
9.2
$
9.2
$
9.2
$
20.2
$
10.2
$
8.9
$
12.8
9.2
RoTCE(3)
7.4%
5.1%
1.3%
13.0%
9.8%
4.1%
11.6%
15.3%
20.6%
(2.2%)
(7.3%)
6.7%
10.2%
Revenue by line of business
Total Investment Banking
$
992
$
909
$
979
$
910
$
1,114
$
1,073
$
1,238
$
1,356
$
6,283
$
2,860
$
2,832
$
3,790
$
4,781
Corporate Lending (excluding gain (loss) on loan hedges)(4)
466
386
436
420
402
423
453
443
1,883
1,627
1,520
1,708
1,721
Total Banking revenues (ex-gain (loss) on loan hedges)(4)
1,458
1,295
1,415
1,330
1,516
1,496
1,691
1,799
8,166
4,487
4,352
5,498
6,502
Gain (loss) on loan hedges(4)
(104)
9
(79)
(6)
14
(62)
(44)
(26)
(140)
307
(443)
(180)
(118)
Total Banking revenues including gain (loss) on loan hedges(4)
$
1,354
$
1,304
$
1,336
$
1,324
$
1,530
$
1,434
$
1,647
$
1,773
$
8,026
$
4,794
$
3,909
$
5,318
$
6,384
Business metrics—investment banking fees
Advisory
$
230
$
268
$
394
$
353
$
424
$
408
$
427
$
649
$
1,785
$
1,332
$
1,017
$
1,245
$
1,908
Equity underwriting (Equity Capital Markets (ECM))
171
174
129
214
127
218
174
180
2,152
621
500
688
699
Debt underwriting (Debt Capital Markets (DCM))
571
493
476
384
553
432
568
458
2,076
1,099
1,196
1,924
2,011
Total
$
972
$
935
$
999
$
951
$
1,104
$
1,058
$
1,169
$
1,287
$
6,013
$
3,052
$
2,713
$
3,857
$
4,618
Revenue by managed geography
North America
$
667
$
661
$
764
$
759
$
874
$
648
$
862
$
1,023
$
4,179
$
2,358
$
1,676
$
2,851
$
3,407
International
687
643
572
565
656
786
785
750
3,847
2,436
2,233
2,467
2,977
Total
$
1,354
$
1,304
$
1,336
$
1,324
$
1,530
$
1,434
$
1,647
$
1,773
$
8,026
$
4,794
$
3,909
$
5,318
$
6,384
Key drivers(5) (in billions of dollars)
Average loans
$
89
$
89
$
88
$
84
$
82
$
84
$
81
$
79
$
102
$
100
$
92
$
88
$
82
NCLs (annualized) as a % of average loans
0.30%
0.18%
0.16%
0.03%
0.17%
0.08%
0.04%
0.13%
0.21%
0.11%
0.18%
0.17%
0.10%
ACLL as a % of EOP loans(6)
1.47%
1.42%
1.54%
1.42%
1.54%
1.72%
1.83%
2.04%
(1)
Investment banking fees are primarily composed of underwriting, advisory, loan syndication structuring, and other related financing activity.
(2)
Primarily includes other non-investment banking fees from customer-driven activities.
(3)
TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(4)
Credit derivatives are used to economically hedge a portion of the corporate loan portfolio that includes both accrual loans and loans at fair value. Gain (loss) on loan hedges includes the mark-to-market on the credit derivatives, partially offset by the mark-to-market on the loans in the portfolio that are at fair value. Hedges on accrual loans reflect the mark-to-market on credit derivatives used to economically hedge the corporate loan accrual portfolio. The fixed premium costs of these hedges are netted against the corporate lending revenues to reflect the cost of credit protection. Citigroup’s results of operations excluding the impact of gain (loss) on loan hedges are non-GAAP financial measures.
(5)
Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(6)
Excludes loans that are carried at fair value for all periods.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 7
WEALTH
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income
$
1,554
$
1,558
$
1,535
$
1,567
$
1,613
$
1,653
$
1,678
$
1,617
$
1,564
$
1,548
$
1,654
$
1,539
Fee revenue
Commissions and fees
550
526
493
459
475
444
370
339
402
400
378
391
Other(1)
217
229
234
209
232
226
204
197
176
210
219
213
Total fee revenue
767
755
727
668
707
670
574
536
578
610
597
604
All other(2)
218
168
222
132
136
171
173
90
177
172
160
128
Total non-interest revenue
985
923
949
800
843
841
747
626
755
782
757
732
Total revenues, net of interest expense
2,539
2,481
2,484
2,367
2,456
2,494
2,425
2,243
2,319
2,330
2,411
2,271
Total operating expenses
1,896
1,975
1,986
2,204
2,202
2,233
2,316
2,387
2,432
2,413
2,458
2,418
Net credit losses on loans
56
61
41
47
130
71
47
87
57
51
48
52
Credit reserve build (release) for loans
(211)
(178)
(79)
30
(59)
171
38
(68)
(70)
40
(49)
(62)
Provision (release) for credit losses on unfunded lending commitments
(11)
5
(7)
(3)
(2)
13
19
(19)
(6)
2
(9)
2
Provisions for benefits and claims (PBC), and other assets
4
(3)
(2)
(1)
(4)
2
5
4
(3)
(2)
1
(1)
Provisions for credit losses and for PBC
(162)
(115)
(47)
73
65
257
109
4
(22)
91
(9)
(9)
Income from continuing operations before taxes
805
621
545
90
189
4
-
(148)
(91)
(174)
(38)
(138)
Income taxes
166
110
93
(18)
11
(31)
(27)
(61)
(25)
(37)
(12)
(23)
Income from continuing operations
639
511
452
108
178
35
27
(87)
(66)
(137)
(26)
(115)
Noncontrolling interests
-
-
-
-
-
-
-
-
-
-
-
-
Net income
$
639
$
511
$
452
$
108
$
178
$
35
$
27
$
(87)
$
(66)
$
(137)
$
(26)
$
(115)
EOP assets (in billions)
$
331
$
316
$
340
$
320
$
333
$
328
$
325
$
330
$
332
$
308
$
302
$
299
Average assets (in billions)
327
327
338
338
335
328
322
328
337
322
309
303
Efficiency ratio
75%
80%
80%
93%
90%
90%
96%
106%
105%
104%
102%
106%
Average allocated TCE (in billions)(3)
$
17.2
$
17.2
$
17.2
$
17.2
$
18.2
$
18.2
$
18.2
$
18.2
$
17.2
$
17.2
$
17.2
$
17.2
RoTCE(3)
15.1%
11.9%
10.4%
2.5%
4.0%
0.8%
0.6%
(1.9%)
(1.6%)
(3.2%)
(0.6%)
(2.7%)
Revenue by line of business
Citigold and Retail Banking
$
1,579
$
1,558
$
1,584
$
1,489
$
1,479
$
1,566
$
1,583
$
1,449
$
1,558
$
1,501
$
1,560
$
1,518
Private Bank
789
752
728
701
794
758
660
599
568
605
617
542
Wealth at Work
171
171
172
177
183
170
182
195
193
224
234
211
Total
$
2,539
$
2,481
$
2,484
$
2,367
$
2,456
$
2,494
$
2,425
$
2,243
$
2,319
$
2,330
$
2,411
$
2,271
Revenue by managed geography
North America
$
1,570
$
1,558
$
1,533
$
1,526
$
1,546
$
1,588
$
1,553
$
1,510
$
1,474
$
1,463
$
1,539
$
1,473
International
969
923
951
841
910
906
872
733
845
867
872
798
Total
$
2,539
$
2,481
$
2,484
$
2,367
$
2,456
$
2,494
$
2,425
$
2,243
$
2,319
$
2,330
$
2,411
$
2,271
Key drivers(4) (in billions of dollars)
EOP client balances
Client investment assets(5)
$
486
$
511
$
499
$
513
$
483
$
445
$
422
$
448
$
464
$
478
$
478
$
506
Deposits
399
410
422
438
442
419
419
430
430
421
411
422
Loans
180
183
182
183
182
182
184
184
186
189
191
193
Total
$
1,065
$
1,104
$
1,103
$
1,134
$
1,107
$
1,046
$
1,025
$
1,062
$
1,080
$
1,088
$
1,080
$
1,121
Net new investment assets (NNIA)(6)(7)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
$
4.9
$
9.5
$
9.5
$
6.1
Average deposits
390
403
417
429
438
426
419
423
427
424
415
412
Average loans
179
181
184
182
182
183
184
184
185
187
190
191
ACLL as a % of EOP loans(8)
0.71%
0.60%
0.55%
0.57%
0.54%
0.63%
0.64%
0.61%
0.53%
0.55%
0.52%
0.48%
NCLs (annualized) as a % of average loans
0.13%
0.14%
0.09%
0.10%
0.29%
0.16%
0.10%
0.19%
0.13%
0.11%
0.10%
0.11%
U.S. Retail banking branches (actual)
687
659
658
658
658
658
653
654
653
653
652
647
(1)
Primarily related to fiduciary and administrative fees.
(2)
Primarily related to principal transactions revenue including FX translation.
(3)
TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(4)
Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(5)
Includes assets under management, and trust and custody assets.
(6)
Represents investment asset inflows, including dividends, interest and distributions, less investment asset outflows.
(7)
NNIA for Retail Banking is not available prior to 1Q24.
(8)
Excludes loans that are carried at fair value for all periods.
NM Not meaningful.
N/A Not available.
Reclassified to conform to the current period's presentation.
Page 8
WEALTH
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income
$
1,440
$
1,503
$
1,673
$
1,752
$
1,831
$
1,831
$
1,902
$
2,018
$
6,214
$
6,561
$
6,305
$
6,368
$
7,582
Fee revenue
Commissions and fees
429
431
408
448
484
454
494
465
2,028
1,628
1,571
1,716
1,897
Other(1)
235
233
241
245
247
246
232
238
889
859
818
954
963
Total fee revenue
664
664
649
693
731
700
726
703
2,917
2,487
2,389
2,670
2,860
All other(2)
150
201
192
152
195
283
211
141
740
570
637
695
830
Total non-interest revenue
814
865
841
845
926
983
937
844
3,657
3,057
3,026
3,365
3,690
Total revenues, net of interest expense
2,254
2,368
2,514
2,597
2,757
2,814
2,839
2,862
9,871
9,618
9,331
9,733
11,272
Total operating expenses
2,422
2,282
2,331
2,339
2,390
2,313
2,375
2,377
8,061
9,138
9,721
9,374
9,455
Net credit losses on loans
57
60
54
72
67
73
91
80
205
335
208
243
311
Credit reserve build (release) for loans
(192)
(48)
9
(18)
64
(65)
(16)
6
(438)
82
(141)
(249)
(11)
Provision (release) for credit losses on unfunded lending commitments
(8)
-
(1)
-
(1)
(1)
(1)
1
(16)
11
(11)
(9)
(2)
Provisions for benefits and claims (PBC), and other assets
(2)
(1)
(2)
-
(4)
-
(1)
-
(2)
7
(5)
(5)
(5)
Provisions for credit losses and for PBC
(145)
11
60
54
126
7
73
87
(251)
435
51
(20)
293
Income from continuing operations before taxes
(23)
75
123
204
241
494
391
398
2,061
45
(441)
379
1,524
Income taxes
(8)
25
29
33
50
109
88
99
351
(108)
(97)
79
346
Income from continuing operations
(15)
50
94
171
191
385
303
299
1,710
153
(344)
300
1,178
Noncontrolling interests
-
-
-
-
-
-
-
-
-
-
-
-
-
Net income
$
(15)
$
50
$
94
$
171
$
191
$
385
$
303
$
299
$
1,710
$
153
$
(344)
$
300
$
1,178
EOP assets (in billions)
$
302
$
300
$
307
$
301
$
301
$
308
$
313
$
316
$
320
$
330
$
299
$
301
$
316
Average assets (in billions)
305
304
306
307
301
305
315
325
333
328
318
306
312
Efficiency ratio
107%
96%
93%
90%
87%
82%
84%
83%
82%
95%
104%
96%
84%
Average allocated TCE (in billions)(3)
$
16.6
$
16.6
$
16.6
$
16.6
$
15.4
$
15.4
$
15.4
$
15.4
$
17.2
$
18.2
$
17.2
$
16.6
$
15.4
RoTCE(3)
(0.4%)
1.2%
2.3%
4.1%
5.0%
10.0%
7.8%
7.7%
9.9%
0.8%
(2.0%)
1.8%
7.6%
Revenue by line of business
Citigold and Retail Banking
$
1,502
$
1,562
$
1,656
$
1,751
$
1,825
$
1,862
$
1,969
$
2,010
$
6,210
$
6,077
$
6,137
$
6,471
$
7,666
Private Bank
571
611
614
590
664
731
656
625
2,970
2,811
2,332
2,386
2,676
Wealth at Work
181
195
244
256
268
221
214
227
691
730
862
876
930
Total
$
2,254
$
2,368
$
2,514
$
2,597
$
2,757
$
2,814
$
2,839
$
2,862
$
9,871
$
9,618
$
9,331
$
9,733
$
11,272
Revenue by managed geography
North America
$
1,340
$
1,408
$
1,519
$
1,611
$
1,734
$
1,729
$
1,741
$
1,825
$
6,187
$
6,197
$
5,949
$
5,878
$
7,029
International
914
960
995
986
1,023
1,085
1,098
1,037
3,684
3,421
3,382
3,855
4,243
Total
$
2,254
$
2,368
$
2,514
$
2,597
$
2,757
$
2,814
$
2,839
$
2,862
$
9,871
$
9,618
$
9,331
$
9,733
$
11,272
Key drivers(4) (in billions of dollars)
EOP client balances
Client investment assets(5)
$
524
$
541
$
580
$
587
$
595
$
635
$
660
$
670
Deposits
420
404
401
402
401
400
408
413
Loans
191
193
197
194
196
200
202
204
Total
$
1,135
$
1,138
$
1,178
$
1,183
$
1,192
$
1,235
$
1,270
$
1,287
Net new investment assets (NNIA)(6)(7)
$
3.1
$
10.3
$
13.8
$
15.6
$
16.5
$
2.0
$
18.6
$
7.2
N/A
N/A
$
30.0
$
42.8
$
44.3
Average deposits
416
409
401
401
399
398
405
407
410
427
420
407
402
Average loans
191
192
195
195
194
197
201
203
182
183
188
193
199
ACLL as a % of EOP loans(8)
0.38%
0.35%
0.35%
0.35%
0.38%
0.34%
0.33%
0.33%
NCLs (annualized) as a % of average loans
0.12%
0.13%
0.11%
0.15%
0.14%
0.15%
0.18%
0.16%
0.11%
0.18%
0.11%
0.13%
0.16%
U.S. Retail banking branches (actual)
645
641
641
642
644
650
653
655
(1)
Primarily related to fiduciary and administrative fees.
(2)
Primarily related to principal transactions revenue including FX translation.
(3)
TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(4)
Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(5)
Includes assets under management, and trust and custody assets.
(6)
Represents investment asset inflows, including dividends, interest and distributions, less investment asset outflows.
(7)
NNIA for Retail Banking is not available prior to 1Q24.
(8)
Excludes loans that are carried at fair value for all periods.
NM Not meaningful.
N/A Not available.
Reclassified to conform to the current period's presentation.
Page 8
U.S. CONSUMER CARDS (USCC)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income
$
3,630
$
3,449
$
3,661
$
3,778
$
3,800
$
3,939
$
4,174
$
4,269
$
4,401
$
4,431
$
4,685
$
4,741
Fee revenue
Interchange fees(1)
1,562
1,913
1,955
2,091
1,950
2,263
2,242
2,311
2,170
2,367
2,320
2,362
Card rewards and partner payments
(1,908)
(2,262)
(2,362)
(2,564)
(2,444)
(2,803)
(2,776)
(2,829)
(2,588)
(2,824)
(2,767)
(2,889)
Other(1)
66
55
56
52
52
50
44
41
35
9
19
34
Total fee revenue
(280)
(294)
(351)
(421)
(442)
(490)
(490)
(477)
(383)
(448)
(428)
(493)
All other(2)
47
1
(8)
(3)
35
18
5
1
53
5
1
1
Total non-interest revenue
(233)
(293)
(359)
(424)
(407)
(472)
(485)
(476)
(330)
(443)
(427)
(492)
Total revenues, net of interest expense
3,397
3,156
3,302
3,354
3,393
3,467
3,689
3,793
4,071
3,988
4,258
4,249
Total operating expenses
1,276
1,384
1,421
1,612
1,485
1,552
1,563
1,689
1,606
1,621
1,613
1,715
Net credit losses on loans
934
801
600
521
561
628
676
821
1,037
1,190
1,319
1,578
Credit reserve build (release) for loans
(1,331)
(862)
(757)
(896)
(1,003)
467
322
839
577
293
144
506
Provisions for benefits and claims (PBC), and other assets
1
6
3
6
1
3
2
3
(1)
4
3
3
Provisions for credit losses and for PBC
(396)
(55)
(154)
(369)
(441)
1,098
1,000
1,663
1,613
1,487
1,466
2,087
Income from continuing operations before taxes
2,517
1,827
2,035
2,111
2,349
817
1,126
441
852
880
1,179
447
Income taxes
585
435
475
499
554
197
263
107
202
198
265
110
Income from continuing operations
1,932
1,392
1,560
1,612
1,795
620
863
334
650
682
914
337
Noncontrolling interests
-
-
-
-
-
-
-
-
-
-
-
-
Net income
$
1,932
$
1,392
$
1,560
$
1,612
$
1,795
$
620
$
863
$
334
$
650
$
682
$
914
$
337
EOP assets (in billions)
$
123
$
128
$
130
$
140
$
136
$
144
$
147
$
157
$
151
$
158
$
162
$
172
Average assets (in billions)
124
124
128
133
132
139
144
150
152
155
159
161
Efficiency ratio
38%
44%
43%
48%
44%
45%
42%
45%
39%
41%
38%
40%
Average allocated TCE (in billions)(3)
$
16.7
$
16.7
$
16.7
$
16.7
$
16.4
$
16.4
$
16.4
$
16.4
$
18.1
$
18.1
$
18.1
$
18.1
RoTCE(3)
46.9%
33.4%
37.1%
38.3%
44.4%
15.2%
20.9%
8.1%
14.6%
15.1%
20.0%
7.4%
Key drivers(4) (in billions)
Average loans
$
123
$
123
$
125
$
129
$
130
$
134
$
140
$
146
$
148
$
152
$
156
$
161
ACLL as a % of EOP loans
11.08%
10.06%
9.39%
8.13%
7.59%
7.50%
7.54%
7.57%
8.09%
7.89%
7.83%
7.71%
NCLs (annualized) as a % of average loans
3.07%
2.62%
1.90%
1.60%
1.76%
1.87%
1.91%
2.23%
2.84%
3.15%
3.35%
3.88%
Revenue rate(5)
11.20%
10.29%
10.48%
10.32%
10.59%
10.38%
10.45%
10.31%
11.16%
10.52%
10.83%
10.47%
NII(6) (annualized) as a % of average loans
11.97%
11.25%
11.62%
11.62%
11.85%
11.79%
11.83%
11.60%
12.06%
11.69%
11.91%
11.68%
(1) Primarily includes credit card-related fees.
(2) Primarily related to revenue incentives from card networks.
(3) TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(4) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(5) Total revenues, net of interest expense (annualized) as a % of average loans.
(6) Net interest income includes certain fees that are recorded as interest revenue.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 9
U.S. CONSUMER CARDS (USCC)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income
$
4,767
$
4,647
$
4,853
$
4,976
$
4,984
$
4,918
$
5,124
$
5,143
$
14,518
$
16,182
$
18,258
$
19,243
$
20,169
Fee revenue
Interchange fees(1)
2,242
2,396
2,347
2,440
2,285
2,459
2,448
2,526
7,521
8,766
9,219
9,425
9,718
Card rewards and partner payments
(2,580)
(2,846)
(2,839)
(2,960)
(2,821)
(3,008)
(3,031)
(3,215)
(9,096)
(10,852)
(11,068)
(11,225)
(12,075)
Other(1)
51
66
84
91
96
103
114
114
229
187
97
292
427
Total fee revenue
(287)
(384)
(408)
(429)
(440)
(446)
(469)
(575)
(1,346)
(1,899)
(1,752)
(1,508)
(1,930)
All other(2)
62
8
-
-
23
(1)
1
(4)
37
59
60
70
19
Total non-interest revenue
(225)
(376)
(408)
(429)
(417)
(447)
(468)
(579)
(1,309)
(1,840)
(1,692)
(1,438)
(1,911)
Total revenues, net of interest expense
4,542
4,271
4,445
4,547
4,567
4,471
4,656
4,564
13,209
14,342
16,566
17,805
18,258
Total operating expenses
1,664
1,608
1,639
1,687
1,691
1,626
1,644
1,794
5,693
6,289
6,555
6,598
6,755
Net credit losses on loans
1,836
1,906
1,837
1,878
1,954
1,856
1,741
1,739
2,856
2,686
5,124
7,457
7,290
Credit reserve build (release) for loans
339
387
40
253
(174)
(5)
55
(117)
(3,846)
625
1,520
1,019
(241)
Provisions for benefits and claims (PBC), and other assets
4
2
5
5
3
1
3
2
16
9
9
16
9
Provisions for credit losses and for PBC
2,179
2,295
1,882
2,136
1,783
1,852
1,799
1,624
(974)
3,320
6,653
8,492
7,058
Income from continuing operations before taxes
699
368
924
724
1,093
993
1,213
1,146
8,490
4,733
3,358
2,715
4,445
Income taxes
162
87
213
169
255
235
284
262
1,994
1,121
775
631
1,036
Income from continuing operations
537
281
711
555
838
758
929
884
6,496
3,612
2,583
2,084
3,409
Noncontrolling interests
-
-
-
-
-
-
-
-
-
-
-
-
-
Net income
$
537
$
281
$
711
$
555
$
838
$
758
$
929
$
884
$
6,496
$
3,612
$
2,583
$
2,084
$
3,409
EOP assets (in billions)
$
164
$
170
$
168
$
175
$
167
$
171
$
171
$
178
$
140
$
157
$
172
$
175
$
178
Average assets (in billions)
164
165
167
169
169
168
171
173
127
141
157
166
170
Efficiency ratio
37%
38%
37%
37%
37%
36%
35%
39%
43%
44%
40%
37%
37%
Average allocated TCE (in billions)(3)
$
21.8
$
21.8
$
21.8
$
21.8
$
20.3
$
20.3
$
20.3
$
20.3
$
16.7
$
16.4
$
18.1
$
21.8
20.3
RoTCE(3)
9.9%
5.2%
13.0%
10.1%
16.7%
15.0%
18.2%
17.3%
38.9%
22.0%
14.3%
9.6%
16.8%
Key drivers(4) (in billions)
Average loans
$
163
$
164
$
166
$
169
$
168
$
168
$
171
$
172
$
125
$
138
$
154
$
165
170
ACLL as a % of EOP loans
8.19%
8.19%
8.20%
8.00%
8.29%
8.08%
8.09%
7.74%
NCLs (annualized) as a % of average loans
4.54%
4.68%
4.40%
4.43%
4.72%
4.43%
4.05%
4.00%
2.28%
1.95%
3.32%
4.51%
4.29%
Revenue rate(5)
11.21%
10.47%
10.65%
10.70%
11.02%
10.67%
10.80%
10.53%
10.57%
10.39%
10.76%
10.79%
10.74%
NII(6) (annualized) as a % of average loans
11.76%
11.40%
11.63%
11.71%
12.03%
11.74%
11.89%
11.86%
11.61%
11.73%
11.86%
11.66%
11.86%
(1) Primarily includes credit card-related fees.
(2) Primarily related to revenue incentives from card networks.
(3) TCE and RoTCE are non-GAAP financial measures. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE to Citigroup's total average TCE and Citi's total average stockholders' equity.
(4) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(5) Total revenues, net of interest expense (annualized) as a % of average loans.
(6) Net interest income includes certain fees that are recorded as interest revenue.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 9
USCC
Metrics
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Key Drivers(1) (in billions of dollars, except as otherwise noted)
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
New credit cards account acquisitions (in thousands)
General Purpose Credit Cards (GPCC)(2)
1,234
1,415
1,497
1,770
1,435
1,560
1,553
1,683
1,590
1,648
1,632
1,776
Private Label Credit Cards (PLCC)(3)
1,767
2,284
2,024
2,425
1,734
2,143
1,876
2,146
1,550
1,876
1,666
1,946
Credit card spend volume
GPCC
$
92.6
$
111.7
$
114.4
$
125.6
$
115.0
$
131.2
$
130.0
$
135.9
$
124.0
$
135.9
$
134.2
$
140.0
PLCC
11.9
15.4
14.3
16.7
13.2
16.7
15.2
16.5
12.7
15.7
14.3
15.5
Average loans(4)
GPCC
$
95.2
$
94.9
$
97.6
$
100.9
$
100.7
$
104.8
$
109.3
$
113.7
$
115.6
$
118.6
$
122.5
$
126.8
PLCC
27.3
26.8
26.7
27.4
27.5
27.9
28.6
29.7
30.0
30.2
30.9
31.4
Installment Lending
0.9
0.8
0.9
1.1
1.3
1.7
2.2
2.5
2.7
2.9
3.0
3.2
EOP loans(4)
GPCC
$
94.3
$
97.8
$
98.7
$
105.3
$
102.6
$
108.8
$
111.4
$
119.7
$
115.8
$
122.1
$
124.8
$
132.3
PLCC
26.7
27.0
26.8
28.6
27.4
28.6
29.0
31.0
29.7
30.9
30.9
32.4
Installment Lending
0.8
0.8
1.0
1.2
1.5
1.9
2.4
2.6
2.8
2.9
3.1
3.3
NCLs as a % of average loans
GPCC
3.10%
2.63%
1.90%
1.52%
1.67%
1.75%
1.77%
2.01%
2.58%
2.89%
3.14%
3.55%
PLCC
2.91%
2.56%
1.89%
1.87%
2.06%
2.34%
2.44%
3.03%
3.73%
4.02%
4.01%
5.00%
Installment Lending
4.51%
4.01%
2.20%
1.80%
1.87%
2.12%
2.34%
2.86%
3.76%
4.29%
5.16%
5.95%
Loans 90+ days past due as a % of EOP loans
GPCC
0.90%
0.67%
0.54%
0.55%
0.59%
0.58%
0.65%
0.79%
0.96%
0.99%
1.14%
1.31%
PLCC
1.26%
0.98%
0.93%
1.01%
1.10%
1.10%
1.30%
1.50%
1.66%
1.66%
2.01%
2.25%
Installment Lending
0.63%
0.38%
0.20%
0.25%
0.20%
0.16%
0.21%
0.27%
0.29%
0.38%
0.42%
0.42%
Loans 30-89 days past due as a % of EOP loans
GPCC
0.74%
0.53%
0.56%
0.58%
0.62%
0.59%
0.74%
0.85%
0.92%
0.98%
1.17%
1.23%
PLCC
1.12%
0.93%
1.08%
1.19%
1.28%
1.27%
1.52%
1.58%
1.61%
1.77%
2.06%
2.07%
Installment Lending
1.25%
0.88%
0.70%
0.67%
0.60%
0.63%
0.63%
0.85%
0.96%
1.10%
1.23%
1.30%
(1) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(2) General Purpose Credit Cards (GPCC). Consists of consumer credit cards that operate on established payment networks and are accepted by a wide variety of merchants and service providers.
(3) Private Label Credit Cards (PLCC). Consists of consumer credit cards that are issued for use with a specific retailer or its affiliates and are limited to purchases of that retailer’s goods and services.
(4) GPCC and PLCC average loans, EOP loans, and the related consumer delinquency amounts and ratios include interest and fees receivables balances.
Reclassified to conform to the current period's presentation.
Page 10
USCC
Metrics
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Key Drivers(1) (in billions of dollars, except as otherwise noted)
2024
2024
2024
2024
2025
2025
2025
2025
New credit cards account acquisitions (in thousands)
General Purpose Credit Cards (GPCC)(2)
1,577
1,616
1,672
1,817
1,696
1,704
1,872
2,115
Private Label Credit Cards (PLCC)(3)
1,251
1,562
1,351
1,703
1,144
1,551
1,339
1,572
Credit card spend volume
GPCC
$
129.1
$
139.9
$
137.6
$
145.9
$
133.2
$
144.8
$
144.5
$
152.4
PLCC
11.8
14.7
13.0
14.7
10.9
13.9
12.6
13.9
Average loans(4)
GPCC
$
128.0
$
129.4
$
131.1
$
133.7
$
133.6
$
134.4
$
136.8
$
138.6
PLCC
31.2
30.9
31.2
31.3
30.6
30.1
30.0
29.8
Installment Lending
3.3
3.5
3.7
3.8
3.8
3.7
3.7
3.9
EOP loans(4)
GPCC
$
128.2
$
132.1
$
132.4
$
139.0
$
132.9
$
136.8
$
137.7
$
143.2
PLCC
30.6
31.4
31.3
32.1
29.9
30.4
29.8
30.5
Installment Lending
3.4
3.5
3.8
3.8
3.7
3.7
3.8
3.8
NCLs as a % of average loans
GPCC
4.22%
4.41%
4.17%
4.13%
4.45%
4.20%
3.85%
3.78%
PLCC
5.74%
5.69%
5.24%
5.48%
5.71%
5.18%
4.67%
4.77%
Installment Lending
5.97%
5.86%
5.70%
6.18%
6.19%
6.29%
6.43%
6.00%
Loans 90+ days past due as a % of EOP loans
GPCC
1.44%
1.34%
1.36%
1.41%
1.42%
1.30%
1.27%
1.32%
PLCC
2.36%
2.15%
2.27%
2.33%
2.23%
2.00%
2.08%
2.13%
Installment Lending
0.44%
0.46%
0.50%
0.55%
0.49%
0.57%
0.58%
0.58%
Loans 30-89 days past due as a % of EOP loans
GPCC
1.22%
1.14%
1.26%
1.21%
1.21%
1.12%
1.21%
1.23%
PLCC
2.07%
1.96%
2.21%
2.01%
2.04%
1.89%
2.07%
1.99%
Installment Lending
1.24%
1.23%
1.32%
1.34%
1.41%
1.35%
1.26%
1.37%
(1) Management uses this information in reviewing the segment’s results and believes it is useful to investors concerning underlying segment performance and trends.
(2) General Purpose Credit Cards (GPCC). Consists of consumer credit cards that operate on established payment networks and are accepted by a wide variety of merchants and service providers.
(3) Private Label Credit Cards (PLCC). Consists of consumer credit cards that are issued for use with a specific retailer or its affiliates and are limited to purchases of that retailer’s goods and services.
(4) GPCC and PLCC average loans, EOP loans, and the related consumer delinquency amounts and ratios include interest and fees receivables balances.
Reclassified to conform to the current period's presentation.
Page 10
ALL OTHER—MANAGED BASIS(1)(2)(3)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income(14)
$
1,535
$
1,650
$
1,715
$
1,645
$
1,613
$
1,796
$
2,114
$
2,300
$
2,288
$
2,225
$
1,899
$
1,662
Non-interest revenue(4)(5)(14)
861
749
648
688
476
445
33
64
374
248
404
289
Total revenues, net of interest expense
2,396
2,399
2,363
2,333
2,089
2,241
2,147
2,364
2,662
2,473
2,303
1,951
Total operating expenses(5)(6)(7)(8)(9)
2,466
2,342
2,454
2,366
2,274
2,261
2,320
2,349
2,291
2,259
2,183
4,468
Net credit losses on loans
688
373
294
217
203
183
198
186
198
199
237
236
Credit reserve build (release) for loans
(598)
(597)
(359)
(121)
(421)
(30)
(19)
(39)
(17)
72
(21)
93
Provision (release) for credit losses on unfunded lending commitments
(10)
(5)
4
(8)
259
(109)
(29)
1
(23)
(5)
(9)
(10)
Provisions for benefits and claims (PBC), other assets and HTM debt securities
50
9
17
21
33
20
32
12
287
(66)
(8)
141
Provisions for credit losses and for PBC
130
(220)
(44)
109
74
64
182
160
445
200
199
460
Income (loss) from continuing operations before taxes
(200)
277
(47)
(142)
(259)
(84)
(355)
(145)
(74)
14
(79)
(2,977)
Income taxes (benefits)
(40)
(434)
(180)
(260)
(403)
(215)
(351)
(150)
(293)
(26)
(39)
(621)
Income (loss) from continuing operations
(160)
711
133
118
144
131
(4)
5
219
40
(40)
(2,356)
Income (loss) from discontinued operations, net of taxes
(2)
10
(1)
-
(2)
(221)
(6)
(2)
(1)
(1)
2
(1)
Noncontrolling interests
4
4
14
(3)
-
(3)
10
(3)
9
-
9
(2)
Net income (loss)
$
(166)
$
717
$
118
$
121
$
142
$
(87)
$
(20)
$
6
$
209
$
39
$
(47)
$
(2,355)
EOP assets (in billions)
$
239
$
245
$
236
$
233
$
243
$
233
$
227
$
218
$
223
$
216
$
202
$
203
Average assets (in billions)
236
239
234
232
240
235
225
222
220
214
210
202
Efficiency ratio
103%
98%
104%
101%
109%
101%
108%
99%
86%
91%
95%
229%
Average allocated TCE (in billions)(10)
$
31.8
$
34.0
$
34.5
$
34.1
$
25.0
$
24.1
$
25.2
$
26.6
$
28.5
$
31.5
$
32.7
$
32.6
Revenue by line of business
Mexico Consumer/SBMM
$
1,110
$
1,152
$
1,139
$
1,138
$
1,111
$
1,161
$
1,146
$
1,219
$
1,289
$
1,406
$
1,519
$
1,454
Asia Consumer(4)(11)
1,017
996
941
917
790
772
757
567
498
470
287
249
Legacy Holdings Assets (LHA)
45
66
93
104
39
(101)
32
63
36
38
25
11
Corporate/Other(14)
224
185
190
174
149
409
212
515
839
559
472
237
Total
$
2,396
$
2,399
$
2,363
$
2,333
$
2,089
$
2,241
$
2,147
$
2,364
$
2,662
$
2,473
$
2,303
$
1,951
Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans
$
18.3
$
18.3
$
17.7
$
18.4
$
18.8
$
19.0
$
19.0
$
20.5
$
22.0
$
23.9
$
24.0
$
25.2
EOP deposits
31.2
31.5
30.0
31.1
32.4
34.0
34.4
34.8
36.7
39.0
38.3
40.2
Average loans
18.8
18.4
17.9
17.7
17.8
18.7
18.7
19.5
20.8
22.6
24.0
23.9
NCLs as a % of average loans (Mexico Consumer only)
10.65%
7.43%
5.26%
3.97%
3.78%
3.12%
3.82%
3.30%
3.87%
3.65%
4.12%
4.35%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)
2.35%
1.84%
1.52%
1.38%
1.32%
1.29%
1.26%
1.28%
1.24%
1.37%
1.32%
1.35%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)
2.08%
1.60%
1.46%
1.30%
1.30%
1.18%
1.23%
1.26%
1.26%
1.28%
1.33%
1.35%
Asia Consumer—key indicators (in billions of dollars)(12)(13)
EOP loans
$
54.0
$
53.5
$
42.9
$
41.1
$
19.5
$
17.3
$
13.4
$
13.3
$
10.0
$
9.1
$
8.0
$
7.4
EOP deposits
54.6
54.0
46.6
43.3
17.5
17.2
14.6
14.5
14.4
12.2
10.8
9.5
Average loans
54.9
54.2
46.4
42.3
23.1
18.2
15.2
13.2
12.1
9.5
8.6
7.8
Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans
$
7.0
$
5.8
$
5.0
$
4.7
$
4.3
$
3.8
$
3.7
$
3.4
$
3.3
$
2.8
$
2.8
$
2.8
(1) Includes Legacy Franchises (see page 12 for details) and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges, and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.
(2) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.
(3) Certain of the results of operations of All Other—managed basis are non-GAAP financial measures. See page 14 for additional information.
(4) In 4Q25, Citigroup recognized an approximate $1.2 billion loss recorded in revenue (approximately $1.1 billion after-tax) related to the loss on sale of the announced move to held-for-sale of AO Citibank (Russia). The sale closed on February 18, 2026. The loss on sale consists of (($1.556) billion) (($1.506) billion after-tax) in Legacy Franchises and (($32) million) in Corporate/Other, partially offset by $356 million in Services, $19 million in Markets and $40 million in Banking. The only tax impact ($50 million tax benefit) was recorded in Legacy Franchises. For additional information, see Citi's Form 8-K filed on December 29, 2025.
(5) See footnote 2 on page 14.
(6) See footnote 3 on page 14.
(7) See footnote 4 on page 14.
(8) See footnote 5 on page 14.
(9) See footnote 6 on page 14.
(10) TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE.
(11) Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.
(12) Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.
(13) The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi’s Consolidated Balance Sheet beginning in 2Q25.
(14) Certain interest-rate risk-management activities within Markets were moved to Corporate/Other. These changes impact the results for Markets, as well as Corporate/Other.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 11
ALL OTHER—MANAGED BASIS(1)(2)(3)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income(14)
$
1,784
$
1,637
$
1,566
$
1,273
$
1,284
$
1,442
$
1,351
$
1,144
$
6,545
$
7,823
$
8,074
$
6,260
$
5,221
Non-interest revenue(4)(5)(14)
646
381
230
4
179
274
120
(1,352)
2,946
1,018
1,315
1,261
(779)
Total revenues, net of interest expense
2,430
2,018
1,796
1,277
1,463
1,716
1,471
(208)
9,491
8,841
9,389
7,521
4,442
Total operating expenses(5)(6)(7)(8)(9)
2,687
2,108
2,078
2,163
2,226
2,277
2,169
2,026
9,628
9,204
11,201
9,036
8,698
Net credit losses on loans
249
214
208
257
256
256
297
341
1,572
770
870
928
1,150
Credit reserve build (release) for loans
(93)
(1)
55
112
73
70
16
75
(1,675)
(509)
127
73
234
Provision (release) for credit losses on unfunded lending commitments
(5)
(3)
(7)
(1)
(1)
(6)
(6)
2
(19)
122
(47)
(16)
(11)
Provisions for benefits and claims (PBC), other assets and HTM debt securities
35
33
33
29
31
54
24
31
97
97
354
130
140
Provisions for credit losses and for PBC
186
243
289
397
359
374
331
449
(25)
480
1,304
1,115
1,513
Income (loss) from continuing operations before taxes
(443)
(333)
(571)
(1,283)
(1,122)
(935)
(1,029)
(2,683)
(112)
(843)
(3,116)
(2,630)
(5,769)
Income taxes (benefits)
3
46
(56)
(167)
(283)
(362)
(277)
(410)
(914)
(1,119)
(979)
(174)
(1,332)
Income (loss) from continuing operations
(446)
(379)
(515)
(1,116)
(839)
(573)
(752)
(2,273)
802
276
(2,137)
(2,456)
(4,437)
Income (loss) from discontinued operations, net of taxes
(1)
-
(1)
-
(1)
-
(1)
(1)
7
(231)
(1)
(2)
(3)
Noncontrolling interests
(7)
(10)
(12)
(1)
16
(21)
3
16
19
4
16
(30)
14
Net income (loss)
$
(440)
$
(369)
$
(504)
$
(1,115)
$
(856)
$
(552)
$
(756)
$
(2,290)
$
790
$
41
$
(2,154)
$
(2,428)
$
(4,454)
EOP assets (in billions)
$
209
$
202
$
200
$
202
$
206
$
214
$
211
$
210
$
233
$
218
$
203
$
202
$
210
Average assets (in billions)
205
202
198
200
207
213
209
202
235
231
210
200
208
Efficiency ratio
111%
104%
116%
169%
152%
133%
147%
(974%)
101%
104%
119%
120%
196%
Average allocated TCE (in billions)(10)
$
25.7
$
27.1
$
29.3
$
29.6
$
37.9
$
40.7
$
40.9
$
39.0
$
33.4
$
25.6
$
30.8
$
27.7
$
39.2
Revenue by line of business
Mexico Consumer/SBMM
$
1,563
$
1,633
$
1,523
$
1,422
$
1,467
$
1,536
$
1,722
$
1,775
$
4,539
$
4,637
$
5,668
$
6,141
$
6,500
Asia Consumer(4)(11)
252
219
191
150
135
155
149
(1,434)
3,871
2,886
1,504
812
(995)
Legacy Holdings Assets (LHA)
4
(133)
20
(9)
19
-
-
(12)
308
33
110
(118)
7
Corporate/Other(14)
611
299
62
(286)
(158)
25
(400)
(537)
773
1,285
2,107
686
(1,070)
Total
$
2,430
$
2,018
$
1,796
$
1,277
$
1,463
$
1,716
$
1,471
$
(208)
$
9,491
$
8,841
$
9,389
$
7,521
$
4,442
Mexico Consumer/SBMM—key indicators (in billions of dollars)
EOP loans
$
26.0
$
24.5
$
23.5
$
23.1
$
24.1
$
26.8
$
28.5
$
30.0
EOP deposits
41.0
37.6
34.6
34.1
35.3
38.4
40.6
43.8
Average loans
25.0
25.3
23.9
23.4
23.7
25.5
27.2
29.2
NCLs as a % of average loans (Mexico Consumer only)
4.67%
4.30%
4.36%
4.81%
5.51%
5.28%
5.46%
5.91%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)
1.32%
1.32%
1.37%
1.43%
1.41%
1.58%
1.60%
1.72%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)
1.33%
1.33%
1.47%
1.41%
1.46%
1.52%
1.58%
1.59%
Asia Consumer—key indicators (in billions of dollars)(12)(13)
EOP loans
$
6.5
$
5.6
$
5.5
$
4.7
$
4.5
$
3.0
$
2.7
$
2.5
EOP deposits
9.0
8.3
8.4
7.5
7.4
1.5
1.3
1.1
Average loans
6.9
6.1
5.6
5.1
4.7
4.0
2.8
2.6
Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans
$
2.7
$
2.4
$
2.5
$
2.2
$
2.2
$
2.1
$
1.8
$
1.8
(1) Includes Legacy Franchises (see page 12 for details) and certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses, and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges, and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.
(2) Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.
(3) Certain of the results of operations of All Other—managed basis are non-GAAP financial measures. See page 14 for additional information.
(4) In 4Q25, Citigroup recognized an approximate $1.2 billion loss recorded in revenue (approximately $1.1 billion after-tax) related to the loss on sale of the announced move to held-for-sale of AO Citibank (Russia). The sale closed on February 18, 2026. The loss on sale consists of (($1.556) billion) (($1.506) billion after-tax) in Legacy Franchises and (($32) million) in Corporate/Other, partially offset by $356 million in Services, $19 million in Markets and $40 million in Banking. The only tax impact ($50 million tax benefit) was recorded in Legacy Franchises. For additional information, see Citi's Form 8-K filed on December 29, 2025.
(5) See footnote 2 on page 14.
(6) See footnote 3 on page 14.
(7) See footnote 4 on page 14.
(8) See footnote 5 on page 14.
(9) See footnote 6 on page 14.
(10) TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE.
(11) Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.
(12) Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.
(13) The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi’s Consolidated Balance Sheet beginning in 2Q25.
(14) Certain interest-rate risk-management activities within Markets were moved to Corporate/Other. These changes impact the results for Markets, as well as Corporate/Other.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 11
ALL OTHER—MANAGED BASIS(1)(2)
Legacy Franchises(3)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income
$
1,480
$
1,539
$
1,467
$
1,464
$
1,446
$
1,435
$
1,362
$
1,306
$
1,255
$
1,314
$
1,273
$
1,179
Non-interest revenue(4)(5)
692
675
706
695
494
397
573
543
568
600
558
535
Total revenues, net of interest expense
2,172
2,214
2,173
2,159
1,940
1,832
1,935
1,849
1,823
1,914
1,831
1,714
Total operating expenses(5)(6)(7)(8)(9)
1,893
1,820
1,785
1,832
1,718
1,811
1,750
1,772
1,696
1,715
1,682
1,625
Net credit losses on loans
688
373
294
217
203
183
198
186
198
199
237
236
Credit reserve build (release) for loans
(598)
(597)
(359)
(121)
(421)
(30)
(19)
(39)
(17)
72
(21)
93
Provision (release) for credit losses on unfunded lending commitments
(10)
(5)
4
(8)
259
(109)
(29)
1
(23)
(5)
(9)
(10)
Provisions for benefits and claims (PBC), other assets and HTM debt securities
50
8
17
23
32
17
29
13
175
45
(7)
152
Provisions for credit losses and for PBC
130
(221)
(44)
111
73
61
179
161
333
311
200
471
Income (loss) from continuing operations before taxes
149
615
432
216
149
(40)
6
(84)
(206)
(112)
(51)
(382)
Income taxes (benefits)
55
182
89
(170)
(50)
1
(44)
(59)
(162)
(65)
22
(114)
Income (loss) from continuing operations
94
433
343
386
199
(41)
50
(25)
(44)
(47)
(73)
(268)
Noncontrolling interests
(3)
(2)
(1)
(4)
(2)
2
-
3
2
3
2
1
Net income (loss)
$
97
$
435
$
344
$
390
$
201
$
(43)
$
50
$
(28)
$
(46)
$
(50)
$
(75)
$
(269)
EOP assets (in billions)
$
131
$
133
$
125
$
122
$
123
$
108
$
100
$
96
$
94
$
91
$
78
$
78
Average assets (in billions)
131
131
127
122
124
116
103
97
97
91
84
78
Efficiency ratio
87%
82%
82%
85%
89%
99%
90%
96%
93%
90%
92%
95%
Average Allocated TCE (in billions)(10)
$
12.0
$
12.0
$
12.0
$
12.0
$
11.1
$
11.1
$
11.1
$
11.1
$
10.0
$
10.0
$
10.0
$
10.0
Revenue by reporting unit and line of business
Mexico Consumer/SBMM(3)
$
1,110
$
1,152
$
1,139
$
1,138
$
1,111
$
1,161
$
1,146
$
1,219
$
1,289
$
1,406
$
1,519
$
1,454
Asia Consumer(4)(11)
1,017
996
941
917
790
772
757
567
498
470
287
249
Legacy Holdings Assets (LHA)
45
66
93
104
39
(101)
32
63
36
38
25
11
Total
$
2,172
$
2,214
$
2,173
$
2,159
$
1,940
$
1,832
$
1,935
$
1,849
$
1,823
$
1,914
$
1,831
$
1,714
Mexico Consumer/SBMM(3)—key indicators (in billions of dollars)
EOP loans
$
18.3
$
18.3
$
17.7
$
18.4
$
18.8
$
19.0
$
19.0
$
20.5
$
22.0
$
23.9
$
24.0
$
25.2
EOP deposits
31.2
31.5
30.0
31.1
32.4
34.0
34.4
34.8
36.7
39.0
38.3
40.2
Average loans
18.8
18.4
17.9
17.7
17.8
18.7
18.7
19.5
20.8
22.6
24.0
23.9
NCLs as a % of average loans (Mexico Consumer only)
10.65%
7.43%
5.26%
3.97%
3.78%
3.12%
3.82%
3.30%
3.87%
3.65%
4.12%
4.35%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)
2.35%
1.84%
1.52%
1.38%
1.32%
1.29%
1.26%
1.28%
1.24%
1.37%
1.32%
1.35%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)
2.08%
1.60%
1.46%
1.30%
1.30%
1.18%
1.23%
1.26%
1.26%
1.28%
1.33%
1.35%
Asia Consumer—key indicators (in billions of dollars)(12)(13)
EOP loans
$
54.0
$
53.5
$
42.9
$
41.1
$
19.5
$
17.3
$
13.4
$
13.3
$
10.0
$
9.1
$
8.0
$
7.4
EOP deposits
54.6
54.0
46.6
43.3
17.5
17.2
14.6
14.5
14.4
12.2
10.8
9.5
Average loans
54.9
54.2
46.4
42.3
23.1
18.2
15.2
13.2
12.1
9.5
8.6
7.8
Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans
$
7.0
$
5.8
$
5.0
$
4.7
$
4.3
$
3.8
$
3.7
$
3.4
$
3.3
$
2.8
$
2.8
$
2.8
(1)
Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges, and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.
(2)
Certain of the results of operations of All Other—managed basis are non-GAAP financial measures. See page 14 for additional information.
(3)
Legacy Franchises consists of the consumer franchises in 13 markets across Asia, Poland and Russia that Citi has exited or intends to exit (collectively Asia Consumer); Mexico Consumer/SBMM (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (SBMM), collectively (Mexico Consumer/SBMM)); and Legacy Holdings Assets (North America consumer mortgage loans, Citigroup's U.K. consumer banking business and other legacy assets).
(4)
In 4Q25, Citigroup recognized an approximate $1.2 billion loss recorded in revenue (approximately $1.1 billion after-tax) related to the loss on sale of the announced move to held-for-sale of AO Citibank (Russia). The sale closed on February 18, 2026. The loss on sale consists of (($1.556) billion) (($1.506) billion after-tax) in Legacy Franchises and (($32) million) in Corporate/Other, partially offset by $356 million in Services, $19 million in Markets and $40 million in Banking. The only tax impact ($50 million tax benefit) was recorded in Legacy Franchises. For additional information, see Citi's Form 8-K filed on December 29, 2025.
(5)
See footnote 2 on page 14.
(6)
See footnote 3 on page 14.
(7)
See footnote 4 on page 14.
(8)
See footnote 5 on page 14.
(9)
See footnote 6 on page 14.
(10)
TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE.
(11)
Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.
(12)
Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.
(13)
The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi’s Consolidated Balance Sheet beginning in 2Q25.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 12
ALL OTHER—MANAGED BASIS(1)(2)
Legacy Franchises(3)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income
$
1,278
$
1,196
$
1,253
$
1,160
$
1,167
$
1,271
$
1,338
$
1,379
$
5,950
$
5,549
$
5,021
$
4,887
$
5,155
Non-interest revenue(4)(5)
541
523
481
403
454
420
533
(1,050)
2,768
2,007
2,261
1,948
357
Total revenues, net of interest expense
1,819
1,719
1,734
1,563
1,621
1,691
1,871
329
8,718
7,556
7,282
6,835
5,512
Total operating expenses(5)(6)(7)(8)(9)
1,605
1,550
1,475
1,381
1,334
1,287
1,320
1,222
7,330
7,051
6,718
6,011
5,163
Net credit losses on loans
249
214
208
257
256
256
297
341
1,572
770
870
928
1,150
Credit reserve build (release) for loans
(93)
(1)
55
112
73
70
16
75
(1,675)
(509)
127
73
234
Provision (release) for credit losses on unfunded lending commitments
(5)
(3)
(7)
(1)
(1)
(6)
(6)
2
(19)
122
(47)
(16)
(11)
Provisions for benefits and claims (PBC), other assets and HTM debt securities
37
28
35
25
30
51
20
29
98
91
365
125
130
Provisions for credit losses and for PBC
188
238
291
393
358
371
327
447
(24)
474
1,315
1,110
1,503
Income (loss) from continuing operations before taxes
26
(69)
(32)
(211)
(71)
33
224
(1,340)
1,412
31
(751)
(286)
(1,154)
Income taxes (benefits)
23
(11)
(1)
(53)
(25)
(5)
66
147
156
(152)
(319)
(42)
183
Income (loss) from continuing operations
3
(58)
(31)
(158)
(46)
38
158
(1,487)
1,256
183
(432)
(244)
(1,337)
Noncontrolling interests
2
-
-
3
14
(22)
3
9
(10)
3
8
5
4
Net income (loss)
$
1
$
(58)
$
(31)
$
(161)
$
(60)
$
60
$
155
$
(1,496)
$
1,266
$
180
$
(440)
$
(249)
$
(1,341)
EOP assets (in billions)
$
80
$
72
$
69
$
74
$
77
$
83
$
86
$
86
$
122
$
96
$
78
$
74
$
86
Average assets (in billions)
78
77
70
72
77
81
85
87
128
110
88
74
83
Efficiency ratio
88%
90%
85%
88%
82%
76%
71%
371%
84%
93%
92%
88%
94%
Average Allocated TCE (in billions)(10)
$
6.2
$
6.2
$
6.2
$
6.2
$
5.1
$
5.1
$
5.1
$
5.1
$
12.0
$
11.1
$
10.0
$
6.2
$
5.1
Revenue by reporting unit and line of business
Mexico Consumer/SBMM(3)
$
1,563
$
1,633
$
1,523
$
1,422
$
1,467
$
1,536
$
1,722
$
1,775
$
4,539
$
4,637
$
5,668
$
6,141
$
6,500
Asia Consumer(4)(11)
252
219
191
150
135
155
149
(1,434)
3,871
2,886
1,504
812
(995)
Legacy Holdings Assets (LHA)
4
(133)
20
(9)
19
-
-
(12)
308
33
110
(118)
7
Total
$
1,819
$
1,719
$
1,734
$
1,563
$
1,621
$
1,691
$
1,871
$
329
$
8,718
$
7,556
$
7,282
$
6,835
$
5,512
Mexico Consumer/SBMM(3)—key indicators (in billions of dollars)
EOP loans
$
26.0
$
24.5
$
23.5
$
23.1
$
24.1
$
26.8
$
28.5
$
30.0
EOP deposits
41.0
37.6
34.6
34.1
35.3
38.4
40.6
43.8
Average loans
25.0
25.3
23.9
23.4
23.7
25.5
27.2
29.2
NCLs as a % of average loans (Mexico Consumer only)
4.67%
4.30%
4.36%
4.81%
5.51%
5.28%
5.46%
5.91%
Loans 90+ days past due as a % of EOP loans (Mexico Consumer only)
1.32%
1.32%
1.37%
1.43%
1.41%
1.58%
1.60%
1.72%
Loans 30-89 days past due as a % of EOP loans (Mexico Consumer only)
1.33%
1.33%
1.47%
1.41%
1.46%
1.52%
1.58%
1.59%
Asia Consumer—key indicators (in billions of dollars)(12)(13)
EOP loans
$
6.5
$
5.6
$
5.5
$
4.7
$
4.5
$
3.0
$
2.7
$
2.5
EOP deposits
9.0
8.3
8.4
7.5
7.4
1.5
1.3
1.1
Average loans
6.9
6.1
5.6
5.1
4.7
4.0
2.8
2.6
Legacy Holdings Assets—key indicators (in billions of dollars)
EOP loans
$
2.7
$
2.4
$
2.5
$
2.2
$
2.2
$
2.1
$
1.8
$
1.8
(1)
Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information. The results of operations, as well as certain disclosed balance sheet information, for Mexico Consumer/SBMM are presented on a managerial view and include certain intercompany allocations, managerial charges, and offshore expenses that reflect the Mexico Consumer/SBMM operations as a component of Citi’s consolidated operations. The Mexico Consumer/SBMM results are therefore not intended to reflect, and may differ (significantly) from, Banamex’s results and operations as a standalone legal entity.
(2)
Certain of the results of operations of All Other—managed basis are non-GAAP financial measures. See page 14 for additional information.
(3)
Legacy Franchises consists of the consumer franchises in 13 markets across Asia, Poland and Russia that Citi has exited or intends to exit (collectively Asia Consumer); Mexico Consumer/SBMM (consists of Mexico consumer banking (Mexico Consumer) and Small Business and Middle-Market Banking (SBMM), collectively (Mexico Consumer/SBMM)); and Legacy Holdings Assets (North America consumer mortgage loans, Citigroup's U.K. consumer banking business and other legacy assets).
(4)
In 4Q25, Citigroup recognized an approximate $1.2 billion loss recorded in revenue (approximately $1.1 billion after-tax) related to the loss on sale of the announced move to held-for-sale of AO Citibank (Russia). The sale closed on February 18, 2026. The loss on sale consists of (($1.556) billion) (($1.506) billion after-tax) in Legacy Franchises and (($32) million) in Corporate/Other, partially offset by $356 million in Services, $19 million in Markets and $40 million in Banking. The only tax impact ($50 million tax benefit) was recorded in Legacy Franchises. For additional information, see Citi's Form 8-K filed on December 29, 2025.
(5)
See footnote 2 on page 14.
(6)
See footnote 3 on page 14.
(7)
See footnote 4 on page 14.
(8)
See footnote 5 on page 14.
(9)
See footnote 6 on page 14.
(10)
TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE.
(11)
Asia Consumer includes revenues from the Poland and Russia consumer banking businesses.
(12)
Asia Consumer also includes loans and deposits in Poland (through 1Q25) and Russia.
(13)
The key indicators for Asia Consumer also reflect the reclassification of loans and deposits to Other assets and Other liabilities under HFS accounting on Citi’s Consolidated Balance Sheet beginning in 2Q25.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 12
ALL OTHER
Corporate/Other(1)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income(2)
$
55
$
111
$
248
$
181
$
167
$
361
$
752
$
994
$
1,033
$
911
$
626
$
483
Non-interest revenue(2)
169
74
(58)
(7)
(18)
48
(540)
(479)
(194)
(352)
(154)
(246)
Total revenues, net of interest expense
224
185
190
174
149
409
212
515
839
559
472
237
Total operating expenses
573
522
669
534
556
450
570
577
595
544
501
2,843
Provisions for other assets, HTM debt securities and other
-
1
-
(2)
1
3
3
(1)
112
(111)
(1)
(11)
Income (loss) from continuing operations before taxes
(349)
(338)
(479)
(358)
(408)
(44)
(361)
(61)
132
126
(28)
(2,595)
Income taxes (benefits)
(95)
(616)
(269)
(90)
(353)
(216)
(307)
(91)
(131)
39
(61)
(507)
Income (loss) from continuing operations
(254)
278
(210)
(268)
(55)
172
(54)
30
263
87
33
(2,088)
Income (loss) from discontinued operations, net of taxes
(2)
10
(1)
-
(2)
(221)
(6)
(2)
(1)
(1)
2
(1)
Noncontrolling interests
7
6
15
1
2
(5)
10
(6)
7
(3)
7
(3)
Net income (loss)
$
(263)
$
282
$
(226)
$
(269)
$
(59)
$
(44)
$
(70)
$
34
$
255
$
89
$
28
$
(2,086)
EOP assets (in billions)
$
108
$
112
$
111
$
111
$
120
$
125
$
127
$
122
$
129
$
125
$
124
$
125
Average allocated TCE (in billions)(3)
19.8
22.0
22.5
22.1
13.9
13.0
14.1
15.5
18.5
21.5
22.7
22.6
(1) Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.
(2) Certain interest-rate risk-management activities within Markets were moved to Corporate/Other. These changes impact the results for Markets, as well as Corporate/Other.
(3) TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 13
ALL OTHER
Corporate/Other(1)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income(2)
$
506
$
441
$
313
$
113
$
117
$
171
$
13
$
(235)
$
595
$
2,274
$
3,053
$
1,373
$
66
Non-interest revenue(2)
105
(142)
(251)
(399)
(275)
(146)
(413)
(302)
178
(989)
(946)
(687)
(1,136)
Total revenues, net of interest expense
611
299
62
(286)
(158)
25
(400)
(537)
773
1,285
2,107
686
(1,070)
Total operating expenses
1,082
558
603
782
892
990
849
804
2,298
2,153
4,483
3,025
3,535
Provisions for other assets, HTM debt securities and other
(2)
5
(2)
4
1
3
4
2
(1)
6
(11)
5
10
Income (loss) from continuing operations before taxes
(469)
(264)
(539)
(1,072)
(1,051)
(968)
(1,253)
(1,343)
(1,524)
(874)
(2,365)
(2,344)
(4,615)
Income taxes (benefits)
(20)
57
(55)
(114)
(258)
(357)
(343)
(557)
(1,070)
(967)
(660)
(132)
(1,515)
Income (loss) from continuing operations
(449)
(321)
(484)
(958)
(793)
(611)
(910)
(786)
(454)
93
(1,705)
(2,212)
(3,100)
Income (loss) from discontinued operations, net of taxes
(1)
-
(1)
-
(1)
-
(1)
(1)
7
(231)
(1)
(2)
(3)
Noncontrolling interests
(9)
(10)
(12)
(4)
2
1
-
7
29
1
8
(35)
10
Net income (loss)
$
(441)
$
(311)
$
(473)
$
(954)
$
(796)
$
(612)
$
(911)
$
(794)
$
(476)
$
(139)
$
(1,714)
$
(2,179)
$
(3,113)
EOP assets (in billions)
$
129
$
130
$
131
$
128
$
129
$
131
$
125
$
124
$
111
$
122
$
125
$
128
$
124
Average allocated TCE (in billions)(3)
19.5
20.9
23.1
23.4
32.8
35.6
35.8
33.9
21.4
14.5
20.8
21.5
34.1
(1) Includes certain unallocated costs of global staff functions (including finance, risk, human resources, legal and compliance-related costs), other corporate expenses and unallocated global operations and technology expenses and income taxes, as well as Corporate Treasury investment activities and discontinued operations.
(2) Certain interest-rate risk-management activities within Markets were moved to Corporate/Other. These changes impact the results for Markets, as well as Corporate/Other.
(3) TCE is a non-GAAP financial measure. See page 23 for a reconciliation of the summation of the segments' and component's average allocated TCE.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 13
ALL OTHER
Divestiture-Related Impacts
(Reconciling Items)(1)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Net interest income
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-interest revenue(2)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total revenues, net of interest expense
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total operating expenses(2)(3)(4)(5)(6)
-
-
-
1,171
559
(28)
107
58
73
79
114
106
Net credit losses on loans
-
-
(5)
(1)
(53)
(50)
(35)
(18)
(12)
(8)
(19)
33
Credit reserve build (release) for loans
-
-
28
2
259
-
22
(22)
3
(3)
2
(63)
Provision (release) for credit losses on unfunded lending commitments
-
-
-
-
(135)
108
1
(1)
1
(1)
-
-
Provisions for benefits and claims (PBC), other assets and HTM debt securities
-
-
-
-
-
-
-
-
-
-
-
-
Provisions for credit losses and for PBC
-
-
23
1
71
58
(12)
(41)
(8)
(12)
(17)
(30)
Income (loss) from continuing operations before taxes
-
-
(680)
(1,185)
(677)
48
519
192
953
(73)
299
(138)
Income taxes (benefits)
-
-
(100)
(123)
(89)
13
263
79
305
19
85
(27)
Income (loss) from continuing operations
-
-
(580)
(1,062)
(588)
35
256
113
648
(92)
214
(111)
Income (loss) from discontinued operations, net of taxes
-
-
-
-
-
-
-
-
-
-
-
-
Noncontrolling interests
-
-
-
-
-
-
-
-
-
-
-
-
Net income (loss)
$
-
$
-
$
(580)
$
(1,062)
$
(588)
$
35
$
256
$
113
$
648
$
(92)
$
214
$
(111)
(1) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis. The Reconciling Items are fully reflected in Citi's Consolidated Statement of Income on page 2 for each respective line item.
(2) 2Q25 includes (i) an approximate $186 million loss recorded in revenue (approximately $157 million after-tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after-tax) primarily related to separation costs in Mexico. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.
(3) 4Q24 includes approximately $56 million in operating expenses (approximately $39 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2024.
(4) 1Q25 includes approximately $34 million in operating expenses (approximately $23 million after-tax), largely related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025.
(5) 3Q25 includes approximately $766 million in operating expenses (approximately $744 million after-tax), driven by a goodwill impairment charge in Mexico ($726 million ($714 million after-tax)) and separation costs in Mexico. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.
(6) 4Q25 includes approximately $40 million in operating expenses (approximately $28 million after-tax), primarily related to separation costs in Mexico. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2025.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 14
ALL OTHER
Divestiture-Related Impacts
(Reconciling Items)(1)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Net interest income
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Non-interest revenue(2)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total revenues, net of interest expense
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total operating expenses(2)(3)(4)(5)(6)
110
85
67
56
34
37
766
40
1,171
696
372
318
877
Net credit losses on loans
11
(3)
(1)
-
-
5
(3)
(2)
(6)
(156)
(6)
7
-
Credit reserve build (release) for loans
-
-
-
-
(11)
-
-
1
30
259
(61)
-
(10)
Provision (release) for credit losses on unfunded lending commitments
-
-
-
-
-
-
-
-
-
(27)
-
-
-
Provisions for benefits and claims (PBC), other assets and HTM debt securities
-
-
-
-
-
-
-
-
-
-
-
-
-
Provisions for credit losses and for PBC
11
(3)
(1)
-
(11)
5
(3)
(1)
24
76
(67)
7
(10)
Income (loss) from continuing operations before taxes
(133)
(49)
(65)
(52)
(23)
(219)
(761)
(40)
(1,865)
82
1,041
(299)
(1,043)
Income taxes (benefits)
(39)
(17)
(20)
(16)
(8)
(39)
16
70
(223)
266
382
(92)
39
Income (loss) from continuing operations
(94)
(32)
(45)
(36)
(15)
(180)
(777)
(110)
(1,642)
(184)
659
(207)
(1,082)
Income (loss) from discontinued operations, net of taxes
-
-
-
-
-
-
-
-
-
-
-
-
-
Noncontrolling interests
-
-
-
-
-
-
-
-
-
-
-
-
-
Net income (loss)
$
(94)
$
(32)
$
(45)
$
(36)
$
(15)
$
(180)
$
(777)
$
(110)
$
(1,642)
$
(184)
$
659
$
(207)
$
(1,082)
(1) Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other—Legacy Franchises on a managed basis. The Reconciling Items are fully reflected in Citi's Consolidated Statement of Income on page 2 for each respective line item.
(2) 2Q25 includes (i) an approximate $186 million loss recorded in revenue (approximately $157 million after-tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after-tax) primarily related to separation costs in Mexico. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.
(3) 4Q24 includes approximately $56 million in operating expenses (approximately $39 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2024.
(4) 1Q25 includes approximately $34 million in operating expenses (approximately $23 million after-tax), largely related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025.
(5) 3Q25 includes approximately $766 million in operating expenses (approximately $744 million after-tax), driven by a goodwill impairment charge in Mexico ($726 million ($714 million after-tax)) and separation costs in Mexico. For additional information, see Citi's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2025.
(6) 4Q25 includes approximately $40 million in operating expenses (approximately $28 million after-tax), primarily related to separation costs in Mexico. For additional information, see Citi's Annual Report on Form 10-K for the year ended December 31, 2025.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 14
AVERAGE BALANCES AND INTEREST RATES(1)(2)(3)(4)
Taxable Equivalent Basis
(In millions of dollars), except as otherwise noted
Average Volumes
Interest
% Average Rate(4)
4Q24
3Q25
4Q25(5)
4Q24
3Q25
4Q25(5)
4Q24
3Q25
4Q25(5)
Assets
Deposits with banks
$
284,050
$
332,245
$
333,848
$
3,010
$
3,435
$
3,190
4.22%
4.10%
3.79%
Securities borrowed and purchased under resale agreements(6)
324,484
357,804
364,353
6,847
7,003
7,047
8.39%
7.77%
7.67%
Trading account assets(7)
408,741
523,334
523,690
4,494
5,289
5,317
4.37%
4.01%
4.03%
Investments
484,416
449,689
447,982
4,318
4,177
4,192
3.55%
3.69%
3.71%
Consumer loans
388,366
396,333
401,451
9,913
10,150
10,121
10.15%
10.16%
10.00%
Corporate loans
299,641
328,686
335,263
5,378
5,263
5,286
7.14%
6.35%
6.26%
Total loans (net of unearned income)(8)
688,007
725,019
736,714
15,291
15,413
15,407
8.84%
8.43%
8.30%
Other interest-earning assets
71,125
83,974
96,860
1,112
1,400
1,521
6.22%
6.61%
6.23%
Total average interest-earning assets
$
2,260,823
$
2,472,065
$
2,503,447
$
35,072
$
36,717
$
36,674
6.17%
5.89%
5.81%
Liabilities
Deposits
$
1,116,527
$
1,180,367
$
1,218,253
$
9,361
$
9,163
$
8,680
3.34%
3.08%
2.83%
Securities loaned and sold under repurchase agreements(6)
317,665
401,821
384,902
6,628
7,356
7,101
8.30%
7.26%
7.32%
Trading account liabilities(7)
91,601
107,815
103,820
933
755
753
4.05%
2.78%
2.88%
Short-term borrowings and other interest-bearing liabilities
123,004
147,175
154,999
1,830
1,933
1,907
5.92%
5.21%
4.88%
Long-term debt(9)
177,288
187,340
186,846
2,562
2,543
2,543
5.75%
5.39%
5.40%
Total average interest-bearing liabilities
$
1,826,085
$
2,024,518
$
2,048,820
$
21,314
$
21,750
$
20,984
4.64%
4.26%
4.06%
Net interest income as a % of average interest-earning assets (NIM)(9)
$
13,758
$
14,967
$
15,690
2.42%
2.40%
2.49%
4Q25 increase (decrease) from:
7 bps
9 bps
(1) Interest income and Net interest income include the taxable equivalent adjustments (based on the U.S. federal statutory tax rate of 21%) of $25 million for 4Q24, $27 million for 3Q25 and $25 million for 4Q25.
(2) Citigroup average balances and interest rates include both domestic and international operations.
(3) Monthly averages have been used by certain subsidiaries where daily averages are unavailable.
(4) Average rate percentage is calculated as annualized interest over average volumes.
(5) Not used.
(6) Average volumes of securities borrowed or purchased under agreements to resell and securities loaned or sold under agreements to repurchase are reported net pursuant to FIN 41; the related interest excludes the impact of ASU 2013-01 (Topic 210).
(7) Interest expense on Trading account liabilities of Services, Markets, and Banking is reported as a reduction of Interest income. Interest income and Interest expense on cash collateral positions are reported in Trading account assets and Trading account liabilities, respectively.
(8) Nonperforming loans are included in the average loan balances.
(9) Excludes hybrid financial instruments with changes in fair value recorded in Principal transactions revenue.
Reclassified to conform to the current period's presentation.
Page 15
END-OF-PERIOD LOANS(1)(2)
(In billions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Corporate loans by region
North America
$
126.7
$
127.5
$
127.8
$
126.7
$
129.2
$
129.8
$
125.9
$
127.8
$
125.1
$
121.7
$
123.0
$
128.9
International
163.8
168.5
167.7
164.5
180.1
171.9
162.5
161.4
163.2
164.3
165.6
171.3
Total corporate loans
$
290.5
$
296.0
$
295.5
$
291.2
$
309.3
$
301.7
$
288.4
$
289.2
$
288.3
$
286.0
$
288.6
$
300.2
Corporate loans by segment and reporting unit
Services
$
72.7
$
77.5
$
79.8
$
75.2
$
86.7
$
85.9
$
80.4
$
76.6
$
80.1
$
83.6
$
83.5
$
84.7
Markets
110.2
115.2
110.8
114.6
115.2
108.8
108.1
113.9
111.1
106.9
111.9
122.0
Banking
102.1
97.9
99.7
95.8
101.8
101.1
94.2
92.7
91.1
89.2
86.8
86.8
All Other–Legacy Franchises–Mexico SBMM & AFG(3)
5.5
5.4
5.2
5.6
5.6
5.9
5.7
6.0
6.0
6.3
6.4
6.7
Total corporate loans
$
290.5
$
296.0
$
295.5
$
291.2
$
309.3
$
301.7
$
288.4
$
289.2
$
288.3
$
286.0
$
288.6
$
300.2
Wealth by region
North America
$
122.8
$
125.2
$
124.4
$
124.5
$
125.9
$
128.1
$
132.8
$
132.8
$
135.2
$
138.3
$
141.1
$
142.7
International
57.1
57.8
58.0
58.3
55.9
54.0
51.6
50.8
50.9
50.9
49.4
49.8
Total
$
179.9
$
183.0
$
182.4
$
182.8
$
181.8
$
182.1
$
184.4
$
183.6
$
186.1
$
189.2
$
190.5
$
192.5
USCC
GPCC
$
94.3
$
97.8
$
98.7
$
105.3
$
102.6
$
108.8
$
111.4
$
119.7
$
115.8
$
122.1
$
124.8
$
132.3
PLCC
26.7
27.0
26.8
28.6
27.4
28.6
29.0
31.0
29.7
30.9
30.9
32.4
Installment Lending
0.8
0.8
1.0
1.2
1.5
1.9
2.4
2.6
2.8
2.9
3.1
3.3
Total
$
121.8
$
125.6
$
126.5
$
135.1
$
131.5
$
139.3
$
142.8
$
153.3
$
148.3
$
155.9
$
158.8
$
168.0
All Other—Consumer
Mexico Consumer
$
13.4
$
13.5
$
13.0
$
13.3
$
13.6
$
13.5
$
13.7
$
14.8
$
16.3
$
17.8
$
17.8
$
18.7
Asia Consumer(4)
54.0
53.5
42.9
41.1
19.5
17.3
13.4
13.3
10.0
9.1
8.0
7.4
Legacy Holdings Assets (LHA)
6.4
5.2
4.5
4.2
3.9
3.4
3.3
3.1
3.0
2.6
2.6
2.6
Total
$
73.8
$
72.2
$
60.4
$
58.6
$
37.0
$
34.2
$
30.4
$
31.2
$
29.3
$
29.5
$
28.4
$
28.7
Total consumer loans
$
375.5
$
380.8
$
369.3
$
376.5
$
350.3
$
355.6
$
357.6
$
368.1
$
363.7
$
374.6
$
377.7
$
389.2
Total loans—EOP
$
666.0
$
676.8
$
664.8
$
667.8
$
659.7
$
657.3
$
646.0
$
657.2
$
652.0
$
660.6
$
666.3
$
689.4
Total loans—average
$
666.0
$
670.3
$
668.5
$
667.4
$
648.6
$
657.5
$
654.7
$
652.5
$
653.7
$
653.6
$
662.3
$
674.7
NCLs as a % of total average loans
1.06%
0.79%
0.57%
0.51%
0.55%
0.52%
0.54%
0.72%
0.81%
0.92%
0.98%
1.17%
(1)
Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM, and the AFG.
(2)
Consumer loans include loans managed by USCC, Wealth, and All Other—Legacy Franchises (other than Mexico SBMM, and the AFG).
(3)
Includes Legacy Franchises corporate loans activity related to Mexico SBMM and AFG (AFG was previously reported in Markets; all periods have been reclassified to reflect this move into Legacy Franchises), as well as other LHA corporate loans.
(4)
Asia Consumer also includes loans in Poland (through 1Q25) and Russia.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 16
END-OF-PERIOD LOANS(1)(2)
(In billions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2024
2024
2024
2024
2025
2025
2025
2025
Corporate loans by region
North America
$
122.9
$
129.6
$
127.5
$
130.8
$
138.7
$
146.5
$
150.1
$
155.2
International
169.9
172.0
172.3
170.6
177.0
183.1
185.2
188.5
Total corporate loans
$
292.8
$
301.6
$
299.8
$
301.4
$
315.7
$
329.6
$
335.3
$
343.7
Corporate loans by segment and reporting unit
Services
$
80.5
$
88.9
$
88.7
$
87.9
$
98.0
$
96.4
$
99.4
$
99.5
Markets
118.3
119.5
120.0
125.3
129.8
144.3
149.7
159.4
Banking
87.3
86.7
84.7
82.1
81.4
81.9
78.8
77.2
All Other–Legacy Franchises–Mexico SBMM & AFG(3)
6.7
6.5
6.4
6.1
6.5
7.0
7.4
7.6
Total corporate loans
$
292.8
$
301.6
$
299.8
$
301.4
$
315.7
$
329.6
$
335.3
$
343.7
Wealth by region
North America
$
142.2
$
143.6
$
145.4
$
144.8
$
144.9
$
147.3
$
148.2
$
150.2
International
48.9
49.5
51.2
49.5
50.6
52.7
53.5
54.1
Total
$
191.1
$
193.1
$
196.6
$
194.3
$
195.5
$
200.0
$
201.7
$
204.3
USCC
GPCC
$
128.2
$
132.1
$
132.4
$
139.0
$
132.9
$
136.8
$
137.7
$
143.2
PLCC
30.6
31.4
31.3
32.1
29.9
30.4
29.8
30.5
Installment Lending
3.4
3.5
3.8
3.8
3.7
3.7
3.8
3.8
Total
$
162.2
$
167.0
$
167.5
$
174.9
$
166.5
$
170.9
$
171.3
$
177.5
All Other—Consumer
Mexico Consumer
$
19.6
$
18.2
$
17.4
$
17.2
$
17.9
$
20.0
$
21.2
$
22.5
Asia Consumer(4)
6.5
5.6
5.5
4.7
4.5
3.0
2.7
2.5
Legacy Holdings Assets (LHA)
2.4
2.2
2.2
2.0
1.9
1.9
1.7
1.7
Total
$
28.5
$
26.0
$
25.1
$
23.9
$
24.3
$
24.9
$
25.6
$
26.7
Total consumer loans
$
381.8
$
386.1
$
389.2
$
393.1
$
386.3
$
395.8
$
398.6
$
408.5
Total loans—EOP
$
674.6
$
687.7
$
688.9
$
694.5
$
702.1
$
725.3
$
733.9
$
752.2
Total loans—average
$
678.8
$
679.6
$
686.5
$
688.0
$
690.7
$
712.2
$
725.0
$
736.7
NCLs as a % of total average loans
1.36%
1.35%
1.26%
1.30%
1.44%
1.26%
1.21%
1.18%
(1)
Corporate loans include loans managed by Services, Markets, Banking, and All Other—Legacy Franchises—Mexico SBMM, and the AFG.
(2)
Consumer loans include loans managed by USCC, Wealth, and All Other—Legacy Franchises (other than Mexico SBMM, and the AFG).
(3)
Includes Legacy Franchises corporate loans activity related to Mexico SBMM and AFG (AFG was previously reported in Markets; all periods have been reclassified to reflect this move into Legacy Franchises), as well as other LHA corporate loans.
(4)
Asia Consumer also includes loans in Poland (through 1Q25) and Russia.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 16
END-OF-PERIOD DEPOSITS
(In billions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Services, Markets, and Banking by region (Institutional)
North America
$
383.4
$
377.3
$
406.4
$
381.2
$
388.9
$
402.7
$
389.2
$
403.9
$
393.1
$
391.7
$
369.9
$
369.6
International
414.7
420.5
425.8
408.0
436.2
425.4
407.4
441.3
426.1
426.5
412.3
431.8
Total
$
798.1
$
797.8
$
832.2
$
789.2
$
825.1
$
828.1
$
796.6
$
845.2
$
819.2
$
818.2
$
782.2
$
801.4
Treasury and Trade Solutions
$
646.1
$
641.9
$
675.5
$
635.0
$
665.7
$
671.8
$
648.7
$
702.9
$
672.5
$
673.2
$
644.8
$
661.5
Securities Services
129.9
135.2
136.8
133.8
138.8
136.3
127.8
119.8
124.2
124.4
113.7
119.9
Services
$
776.0
$
777.1
$
812.3
$
768.8
$
804.5
$
808.1
$
776.5
$
822.7
$
796.7
$
797.6
$
758.5
$
781.4
Markets(1)
20.6
19.3
18.8
19.4
19.5
18.8
18.7
20.8
21.2
19.7
22.8
19.3
Banking
1.5
1.4
1.1
1.0
1.1
1.2
1.4
1.7
1.3
0.9
0.9
0.7
Total
$
798.1
$
797.8
$
832.2
$
789.2
$
825.1
$
828.1
$
796.6
$
845.2
$
819.2
$
818.2
$
782.2
$
801.4
Wealth
North America
$
289.3
$
297.9
$
308.3
$
323.7
$
325.5
$
306.0
$
302.9
$
306.5
$
307.4
$
297.0
$
292.6
$
299.4
International
109.8
111.7
114.0
114.3
116.2
112.5
116.2
123.6
122.6
123.6
118.6
122.4
Total
$
399.1
$
409.6
$
422.3
$
438.0
$
441.7
$
418.5
$
419.1
$
430.1
$
430.0
$
420.6
$
411.2
$
421.8
All Other
Legacy Franchises
Mexico Consumer
$
24.0
$
24.2
$
23.3
$
24.8
$
24.9
$
26.6
$
26.9
$
28.3
$
29.1
$
30.6
$
29.6
$
31.9
Mexico SBMM—corporate
7.2
7.3
6.7
6.3
7.5
7.4
7.5
6.5
7.6
8.4
8.7
8.3
Asia Consumer(2)
54.6
54.0
46.6
43.3
17.5
17.2
14.6
14.5
14.4
12.2
10.8
9.5
Legacy Holdings Assets (LHA)(3)
7.2
7.4
7.7
8.0
9.9
9.1
8.2
7.7
6.9
6.2
5.1
4.1
Corporate/Other(1)
10.8
10.0
8.7
7.6
7.1
14.9
33.6
33.7
23.3
23.7
25.9
31.7
Total
$
103.8
$
102.9
$
93.0
$
90.0
$
66.9
$
75.2
$
90.8
$
90.7
$
81.3
$
81.1
$
80.1
$
85.5
Total deposits—EOP
$
1,301.0
$
1,310.3
$
1,347.5
$
1,317.2
$
1,333.7
$
1,321.8
$
1,306.5
$
1,366.0
$
1,330.5
$
1,319.9
$
1,273.5
$
1,308.7
Total deposits—average
$
1,304.0
$
1,321.3
$
1,343.0
$
1,370.3
$
1,334.3
$
1,322.5
$
1,315.9
$
1,361.1
$
1,363.2
$
1,338.2
$
1,315.1
$
1,319.7
(1)
During the third quarter of 2024, approximately $9 billion of institutional deposits were moved from Markets to Corporate/Other, as they are managed by Citi Treasury. Prior periods were not impacted.
(2)
Asia Consumer also includes deposits in Poland (through 1Q25) and Russia.
(3)
LHA includes deposits from the U.K. consumer banking business.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 17
END-OF-PERIOD DEPOSITS
(In billions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2024
2024
2024
2024
2025
2025
2025
2025
Services, Markets, and Banking by region (Institutional)
North America
$
374.2
$
376.1
$
394.7
$
397.9
$
406.3
$
414.4
$
428.3
$
452.9
International
436.0
431.0
444.9
422.5
444.4
477.2
483.1
481.3
Total
$
810.2
$
807.1
$
839.6
$
820.4
$
850.7
$
891.6
$
911.4
$
934.2
Treasury and Trade Solutions
$
662.1
$
655.1
$
683.7
$
680.7
$
692.1
$
726.4
$
740.0
$
779.4
Securities Services
125.3
127.8
142.0
126.3
140.9
148.1
151.3
138.4
Services
$
787.4
$
782.9
$
825.7
$
807.0
$
833.0
$
874.5
$
891.3
$
917.8
Markets(1)
22.1
23.7
13.4
12.8
17.2
16.7
19.3
16.0
Banking
0.7
0.5
0.5
0.6
0.5
0.4
0.8
0.4
Total
$
810.2
$
807.1
$
839.6
$
820.4
$
850.7
$
891.6
$
911.4
$
934.2
Wealth
North America
$
295.6
$
280.3
$
276.8
$
278.9
$
278.7
$
277.3
$
278.5
$
285.6
International
124.3
123.8
124.6
123.3
122.4
123.1
129.2
126.9
Total
$
419.9
$
404.1
$
401.4
$
402.2
$
401.1
$
400.4
$
407.7
$
412.5
All Other
Legacy Franchises
Mexico Consumer
$
31.8
$
28.6
$
26.1
$
26.0
$
25.6
$
28.5
$
29.7
$
33.3
Mexico SBMM—corporate
9.2
9.0
8.5
8.1
9.7
9.9
10.9
10.5
Asia Consumer(2)
9.0
8.3
8.4
7.5
7.4
1.5
1.3
1.1
Legacy Holdings Assets (LHA)(3)
2.9
1.9
0.4
0.2
0.1
0.1
0.1
0.1
Corporate/Other(1)
24.2
19.1
25.6
20.1
21.8
25.7
22.8
11.9
Total
$
77.1
$
66.9
$
69.0
$
61.9
$
64.6
$
65.7
$
64.8
$
56.9
Total deposits—EOP
$
1,307.2
$
1,278.1
$
1,310.0
$
1,284.5
$
1,316.4
$
1,357.7
$
1,383.9
$
1,403.6
Total deposits—average
$
1,326.4
$
1,309.9
$
1,311.1
$
1,320.4
$
1,305.0
$
1,342.8
$
1,382.2
$
1,422.3
(1)
During the third quarter of 2024, approximately $9 billion of institutional deposits were moved from Markets to Corporate/Other, as they are managed by Citi Treasury. Prior periods were not impacted.
(2)
Asia Consumer also includes deposits in Poland (through 1Q25) and Russia.
(3)
LHA includes deposits from the U.K. consumer banking business.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 17
ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD
(In millions of dollars, except ratios)
Balance
Builds (Releases)
FY 2024
12/31/23
1Q24
2Q24
3Q24
4Q24
FY 2024
FX/Other
Allowance for credit losses on loans (ACLL)
Services
$
397
$
34
$
(100)
$
7
$
(71)
$
(130)
$
(3)
Markets
820
120
(111)
37
167
213
(3)
Banking
1,376
(89)
(51)
62
(122)
(200)
(9)
Legacy Franchises corporate (Mexico SBMM & AFG(2))
121
(8)
(12)
(3)
10
(13)
(13)
Total corporate ACLL
$
2,714
$
57
$
(274)
$
103
$
(16)
$
(130)
$
(28)
U.S. Cards(3)
$
12,626
$
326
$
357
$
10
$
221
$
914
$
20
Installment lending
319
13
30
30
32
105
1
Total USCC
$
12,945
$
339
$
387
$
40
$
253
$
1,019
$
21
Wealth
924
(192)
(48)
9
(18)
(249)
(2)
All Other—consumer
1,562
(85)
11
58
102
86
(288)
Total consumer ACLL
$
15,431
$
62
$
350
$
107
$
337
$
856
$
(269)
Total ACLL
$
18,145
$
119
$
76
$
210
$
321
$
726
$
(297)
Allowance for credit losses on unfunded
lending commitments (ACLUC)
$
1,728
$
(98)
$
(8)
$
105
$
(118)
$
(119)
$
(8)
Total ACLL and ACLUC
19,873
21
68
315
203
607
(305)
Other(4)(5)
1,883
14
107
160
131
412
(293)
Total ACL
$
21,756
$
35
$
175
$
475
$
334
$
1,019
$
(598)
(1)
Primarily includes FX translation on the EOP ACL balances.
(2)
See footnote 3 on page 16.
(3)
The December 31, 2024 ACLL balance includes approximately $20 million related to an acquired portfolio, which is also reflected in the FX/Other column in this table.
(4)
Includes ACL activity on HTM securities and Other assets.
(5)
The decrease in the Other ACL at December 31, 2025, represents the held-for-sale accounting treatment for A.O. Citibank (Russia), wherein the assets and liabilities of A.O. Citibank were reclassified to Other assets and Other liabilities.
Reclassified to conform to the current period's presentation.
Page 18
ALLOWANCE FOR CREDIT LOSSES (ACL) ROLLFORWARD
(In millions of dollars, except ratios)
ACLL/EOP
Balance
Builds (Releases)
YTD 2025
Balance
Loans
12/31/24
1Q25
2Q25
3Q25
4Q25
YTD 2025
FX/Other(1)
12/31/25
12/31/25
Allowance for credit losses on loans (ACLL)
Services
$
264
$
24
$
53
$
(4)
$
(18)
$
55
$
8
$
327
Markets
1,030
48
53
(44)
(73)
(16)
13
1,027
Banking
1,167
78
137
38
136
389
22
1,578
Legacy Franchises corporate (Mexico SBMM & AFG(2))
95
4
16
(12)
6
14
12
121
Total corporate ACLL
$
2,556
$
154
$
259
$
(22)
$
51
$
442
$
55
$
3,053
0.91%
U.S. Cards(3)
$
13,560
$
(169)
$
(12)
$
44
$
(102)
$
(239)
$
3
$
13,324
7.67%
Installment lending
425
(5)
7
11
(15)
(2)
(1)
422
Total USCC
$
13,985
$
(174)
$
(5)
$
55
$
(117)
$
(241)
$
2
$
13,746
Wealth
673
64
(65)
(16)
6
(11)
7
669
All Other—consumer
1,360
58
54
28
70
210
209
1,779
Total consumer ACLL
$
16,018
$
(52)
$
(16)
$
67
$
(41)
$
(42)
$
218
$
16,194
3.96%
Total ACLL
$
18,574
$
102
$
243
$
45
$
10
$
400
$
273
$
19,247
2.58%
Allowance for credit losses on unfunded
lending commitments (ACLUC)
$
1,601
$
108
$
(19)
$
100
$
13
$
202
$
30
$
1,833
Total ACLL and ACLUC
20,175
210
224
145
23
602
303
21,080
Other(4)(5)
2,002
34
388
74
(17)
479
(2,188)
293
Total ACL
$
22,177
$
244
$
612
$
219
$
6
$
1,081
$
(1,885)
$
21,373
(1)
Primarily includes FX translation on the EOP ACL balances.
(2)
See footnote 3 on page 16.
(3)
The December 31, 2024 ACLL balance includes approximately $20 million related to an acquired portfolio, which is also reflected in the FX/Other column in this table.
(4)
Includes ACL activity on HTM securities and Other assets.
(5)
The decrease in the Other ACL at December 31, 2025, represents the held-for-sale accounting treatment for A.O. Citibank (Russia), wherein the assets and liabilities of A.O. Citibank were reclassified to Other assets and Other liabilities.
Reclassified to conform to the current period's presentation.
Page 18
ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND
UNFUNDED LENDING COMMITMENTS (ACLUC)
Page 1
(In millions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period
$
24,956
$
21,638
$
19,238
$
17,715
$
16,455
$
15,393
$
15,952
$
16,309
$
16,974
$
17,169
$
17,496
$
17,629
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures(10)
-
-
-
-
-
-
-
-
(352)
-
-
-
Adjusted ACLL at beginning of period
24,956
21,638
19,238
17,715
16,455
15,393
15,952
16,309
16,622
17,169
17,496
17,629
Gross credit (losses) on loans
(2,208)
(1,844)
(1,389)
(1,279)
(1,240)
(1,212)
(1,237)
(1,467)
(1,634)
(1,879)
(2,000)
(2,368)
Gross recoveries on loans
460
524
428
413
368
362
350
287
332
375
363
374
Net credit (losses) / recoveries on loans (NCLs)
(1,748)
(1,320)
(961)
(866)
(872)
(850)
(887)
(1,180)
(1,302)
(1,504)
(1,637)
(1,994)
Replenishment of NCLs
1,748
1,320
961
866
872
850
887
1,180
1,302
1,504
1,637
1,994
Net reserve builds / (releases) for loans
(3,227)
(2,446)
(1,149)
(1,176)
(612)
534
441
593
435
257
179
478
Provision for credit losses on loans (PCLL)
(1,479)
(1,126)
(188)
(310)
260
1,384
1,328
1,773
1,737
1,761
1,816
2,472
Other, net(1)(2)(3)(4)(5)(6)
(91)
46
(374)
(84)
(450)
25
(84)
72
112
70
(46)
38
ACLL at end of period (a)
$
21,638
$
19,238
$
17,715
$
16,455
$
15,393
$
15,952
$
16,309
$
16,974
$
17,169
$
17,496
$
17,629
$
18,145
Allowance for credit losses on unfunded lending commitments (ACLUC)(7) (a)
$
2,012
$
2,073
$
2,063
$
1,871
$
2,343
$
2,193
$
2,089
$
2,151
$
1,959
$
1,862
$
1,806
$
1,728
Provision (release) for credit losses on unfunded lending commitments
$
(626)
$
44
$
(13)
$
(193)
$
474
$
(159)
$
(71)
$
47
$
(194)
$
(96)
$
(54)
$
(81)
Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (a)]
$
23,650
$
21,311
$
19,778
$
18,326
$
17,736
$
18,145
$
18,398
$
19,125
$
19,128
$
19,358
$
19,435
$
19,873
Total ACLL as a % of total loans(8)
3.29%
2.88%
2.69%
2.49%
2.35%
2.44%
2.54%
2.60%
2.65%
2.67%
2.68%
2.66%
Total NCLs (annualized) as a % of average loans
1.06%
0.79%
0.57%
0.51%
0.55%
0.52%
0.54%
0.72%
0.81%
0.92%
0.98%
1.17%
Consumer
ACLL at beginning of period
$
20,180
$
18,096
$
16,566
$
15,105
$
14,040
$
12,368
$
12,983
$
13,361
$
14,119
$
14,389
$
14,866
$
14,912
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures(10)
-
-
-
-
-
-
-
-
(352)
-
-
-
Adjusted ACLL at beginning of period
20,180
18,096
16,566
15,105
14,040
12,368
12,983
13,361
13,767
14,389
14,866
14,912
NCLs
(1,563)
(1,243)
(922)
(781)
(841)
(827)
(881)
(1,062)
(1,280)
(1,429)
(1,579)
(1,899)
Replenishment of NCLs
1,563
1,243
922
781
841
827
881
1,062
1,280
1,429
1,579
1,899
Net reserve builds / (releases) for loans
(2,000)
(1,583)
(1,102)
(983)
(1,213)
613
400
717
520
409
77
472
Provision for credit losses on loans (PCLL)
(437)
(340)
(180)
(202)
(372)
1,440
1,281
1,779
1,800
1,838
1,656
2,371
Other, net(1)(2)(3)(4)(5)(6)
(84)
53
(359)
(82)
(459)
2
(22)
41
102
68
(31)
47
ACLL at end of period (b)
$
18,096
$
16,566
$
15,105
$
14,040
$
12,368
$
12,983
$
13,361
$
14,119
$
14,389
$
14,866
$
14,912
$
15,431
Consumer ACLUC(7) (b)
$
42
$
44
$
35
$
29
$
139
$
165
$
143
$
120
$
101
$
88
$
65
$
62
Provision (release) for credit losses on unfunded lending commitments
$
(15)
$
1
$
(9)
$
(5)
$
109
$
19
$
(8)
$
(20)
$
(17)
$
(4)
$
(20)
$
(5)
Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (b)]
$
18,138
$
16,610
$
15,140
$
14,069
$
12,507
$
13,148
$
13,504
$
14,239
$
14,490
$
14,954
$
14,977
$
15,493
Consumer ACLL as a % of total consumer loans
4.82%
4.35%
4.09%
3.73%
3.53%
3.65%
3.74%
3.84%
3.96%
3.97%
3.95%
3.97%
Consumer NCLs (annualized) as a % of average loans
1.68%
1.32%
0.98%
0.83%
0.97%
0.94%
0.98%
1.17%
1.43%
1.56%
1.67%
1.98%
Corporate
ACLL at beginning of period
$
4,776
$
3,542
$
2,672
$
2,610
$
2,415
$
3,025
$
2,969
$
2,948
$
2,855
$
2,780
$
2,630
$
2,717
NCLs
(185)
(77)
(39)
(85)
(31)
(23)
(6)
(118)
(22)
(75)
(58)
(95)
Replenishment of NCLs
185
77
39
85
31
23
6
118
22
75
58
95
Net reserve builds / (releases) for loans
(1,227)
(863)
(47)
(193)
601
(79)
41
(124)
(85)
(152)
102
6
Provision for credit losses on loans (PCLL)
(1,042)
(786)
(8)
(108)
632
(56)
47
(6)
(63)
(77)
160
101
Other, net(1)
(7)
(7)
(15)
(2)
9
23
(62)
31
10
2
(15)
(9)
ACLL at end of period (c)
$
3,542
$
2,672
$
2,610
$
2,415
$
3,025
$
2,969
$
2,948
$
2,855
$
2,780
$
2,630
$
2,717
$
2,714
Corporate ACLUC(7) (c)
$
1,970
$
2,029
$
2,028
$
1,842
$
2,204
$
2,028
$
1,946
$
2,031
$
1,858
$
1,774
$
1,741
$
1,666
Provision (release) for credit losses on unfunded lending commitments
$
(611)
$
43
$
(4)
$
(188)
$
365
$
(178)
$
(63)
$
67
$
(177)
$
(92)
$
(34)
$
(76)
Total allowance for credit losses on loans, leases and unfunded lending commitments [sum of (c)]
$
5,512
$
4,701
$
4,638
$
4,257
$
5,229
$
4,997
$
4,894
$
4,886
$
4,638
$
4,404
$
4,458
$
4,380
Corporate ACLL as a % of total corporate loans(9)
1.25%
0.93%
0.91%
0.85%
1.00%
1.00%
1.04%
1.01%
0.98%
0.94%
0.97%
0.93%
Corporate NCLs (annualized) as a % of average loans
0.26%
0.11%
0.05%
0.11%
0.04%
0.03%
0.01%
0.16%
0.03%
0.11%
0.08%
0.13%
Footnotes to this table are on the following page (page 20).
Page 19
ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND
UNFUNDED LENDING COMMITMENTS (ACLUC)
Page 1
(In millions of dollars)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Total Citigroup
Allowance for credit losses on loans (ACLL) at beginning of period
$
18,145
$
18,296
$
18,216
$
18,356
$
18,574
$
18,726
$
19,123
$
19,206
$
24,956
$
16,455
$
16,974
$
18,145
$
18,574
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures(10)
-
-
-
-
-
-
-
-
-
-
(352)
-
-
Adjusted ACLL at beginning of period
18,145
18,296
18,216
18,356
18,574
18,726
19,123
19,206
24,956
16,455
16,622
18,145
18,574
Gross credit (losses) on loans
(2,690)
(2,715)
(2,609)
(2,680)
(2,926)
(2,723)
(2,726)
(2,724)
(6,720)
(5,156)
(7,881)
(10,694)
(11,099)
Gross recoveries on loans
387
432
437
438
467
489
512
534
1,825
1,367
1,444
1,694
2,002
Net credit (losses) / recoveries on loans (NCLs)
(2,303)
(2,283)
(2,172)
(2,242)
(2,459)
(2,234)
(2,214)
(2,190)
(4,895)
(3,789)
(6,437)
(9,000)
(9,097)
Replenishment of NCLs
2,303
2,283
2,172
2,242
2,459
2,234
2,214
2,190
4,895
3,789
6,437
9,000
9,097
Net reserve builds / (releases) for loans
119
76
210
321
102
243
45
10
(7,998)
956
1,349
726
400
Provision for credit losses on loans (PCLL)
2,422
2,359
2,382
2,563
2,561
2,477
2,259
2,200
(3,103)
4,745
7,786
9,726
9,497
Other, net(1)(2)(3)(4)(5)(6)
32
(156)
(70)
(103)
50
154
38
31
(503)
(437)
174
(297)
273
ACLL at end of period (a)
$
18,296
$
18,216
$
18,356
$
18,574
$
18,726
$
19,123
$
19,206
$
19,247
$
16,455
$
16,974
$
18,145
$
18,574
$
19,247
Allowance for credit losses on unfunded lending
commitments (ACLUC)(7) (a)
$
1,629
$
1,619
$
1,725
$
1,601
$
1,720
$
1,721
$
1,820
$
1,833
$
1,871
$
2,151
$
1,728
$
1,601
$
1,833
Provision (release) for credit losses on unfunded lending commitments
$
(98)
$
(8)
$
105
$
(118)
$
108
$
(19)
$
100
$
13
$
(788)
$
291
$
(425)
$
(119)
$
202
Total allowance for credit losses on loans, leases and
unfunded lending commitments [sum of (a)]
$
19,925
$
19,835
$
20,081
$
20,175
$
20,446
$
20,844
$
21,026
$
21,080
$
18,326
$
19,125
$
19,873
$
20,175
$
21,080
Total ACLL as a % of total loans(8)
2.75%
2.68%
2.70%
2.71%
2.70%
2.67%
2.65%
2.58%
Total NCLs (annualized) as a % of average loans
1.36%
1.35%
1.26%
1.30%
1.44%
1.26%
1.21%
1.18%
0.73%
0.58%
0.97%
1.32%
1.27%
Consumer
ACLL at beginning of period
$
15,431
$
15,524
$
15,732
$
15,765
$
16,018
$
16,001
$
16,100
$
16,205
$
20,180
$
14,040
$
14,119
$
15,431
$
16,018
Adjustment to opening balance
Financial instruments—TDRs and Vintage Disclosures(10)
-
-
-
-
-
-
-
-
-
-
(352)
-
-
Adjusted ACLL at beginning of period
15,431
15,524
15,732
15,765
16,018
16,001
16,100
16,205
20,180
14,040
13,767
15,431
16,018
NCLs
(2,139)
(2,175)
(2,098)
(2,191)
(2,277)
(2,185)
(2,122)
(2,148)
(4,509)
(3,611)
(6,187)
(8,603)
(8,732)
Replenishment of NCLs
2,139
2,175
2,098
2,191
2,277
2,185
2,122
2,148
4,509
3,611
6,187
8,603
8,732
Net reserve builds / (releases) for loans
62
350
107
337
(52)
(16)
67
(41)
(5,668)
517
1,478
856
(42)
Provision for credit losses on loans (PCLL)
2,201
2,525
2,205
2,528
2,225
2,169
2,189
2,107
(1,159)
4,128
7,665
9,459
8,690
Other, net(1)(2)(3)(4)(5)(6)
31
(142)
(74)
(84)
35
115
38
30
(472)
(438)
186
(269)
218
ACLL at end of period (b)
$
15,524
$
15,732
$
15,765
$
16,018
$
16,001
$
16,100
$
16,205
$
16,194
$
14,040
$
14,119
$
15,431
$
16,018
$
16,194
Consumer ACLUC(7) (b)
$
46
$
42
$
39
$
34
$
31
$
24
$
20
$
24
$
29
$
120
$
62
$
34
$
24
Provision (release) for credit losses on unfunded lending commitments
$
(15)
$
(4)
$
(4)
$
(2)
$
(3)
$
(1)
$
(4)
$
3
$
(28)
$
100
$
(46)
$
(25)
$
(5)
Total allowance for credit losses on loans, leases and
unfunded lending commitments [sum of (b)]
$
15,570
$
15,774
$
15,804
$
16,052
$
16,032
$
16,124
$
16,225
$
16,218
$
14,069
$
14,239
$
15,493
$
16,052
$
16,218
Consumer ACLL as a % of total consumer loans
4.07%
4.08%
4.05%
4.08%
4.14%
4.07%
4.07%
3.96%
Consumer NCLs (annualized) as a % of average loans
2.25%
2.28%
2.16%
2.24%
2.39%
2.25%
2.12%
2.12%
1.20%
1.02%
1.66%
2.24%
2.22%
Corporate
ACLL at beginning of period
$
2,714
$
2,772
$
2,484
$
2,591
$
2,556
$
2,725
$
3,023
$
3,001
$
4,776
$
2,415
$
2,855
$
2,714
$
2,556
NCLs
(164)
(108)
(74)
(51)
(182)
(49)
(92)
(42)
(386)
(178)
(250)
(397)
(365)
Replenishment of NCLs
164
108
74
51
182
49
92
42
386
178
250
397
365
Net reserve builds / (releases) for loans
57
(274)
103
(16)
154
259
(22)
51
(2,330)
439
(129)
(130)
442
Provision for credit losses on loans (PCLL)
221
(166)
177
35
336
308
70
93
(1,944)
617
121
267
807
Other, net(1)
1
(14)
4
(19)
15
39
-
1
(31)
1
(12)
(28)
55
ACLL at end of period (c)
$
2,772
$
2,484
$
2,591
$
2,556
$
2,725
$
3,023
$
3,001
$
3,053
$
2,415
$
2,855
$
2,714
$
2,556
$
3,053
Corporate ACLUC(7) (c)
$
1,583
$
1,577
$
1,686
$
1,567
$
1,689
$
1,697
$
1,800
$
1,809
$
1,842
$
2,031
$
1,666
$
1,567
$
1,809
Provision (release) for credit losses on unfunded lending commitments
$
(83)
$
(4)
$
109
$
(116)
$
111
$
(18)
$
104
$
10
$
(760)
$
191
$
(379)
$
(94)
$
207
Total allowance for credit losses on loans, leases and
unfunded lending commitments [sum of (c)]
$
4,355
$
4,061
$
4,277
$
4,123
$
4,414
$
4,720
$
4,801
$
4,862
$
4,257
$
4,886
$
4,380
$
4,123
$
4,862
Corporate ACLL as a % of total corporate loans(9)
0.98%
0.85%
0.89%
0.87%
0.89%
0.94%
0.92%
0.91%
Corporate NCLs (annualized) as a % of average loans
0.22%
0.15%
0.10%
0.07%
0.24%
0.06%
0.11%
0.05%
0.13%
0.06%
0.09%
0.13%
0.11%
Footnotes to this table are on the following page (page 20).
Page 19
ALLOWANCE FOR CREDIT LOSSES ON LOANS (ACLL) AND
UNFUNDED LENDING COMMITMENTS (ACLUC)
Page 2
The following footnotes relate to the table on the preceding page (page 19):
(1) Includes all adjustments to the allowance for credit losses, such as changes in the allowance from acquisitions, dispositions, securitizations, foreign currency translation (FX translation), purchase accounting adjustments, etc.
(2) 4Q24 primarily relates to FX translation.
(3) 1Q25 primarily relates to FX translation.
(4) 2Q25 includes an approximate $25 million reclass related to Citi's agreement to sell its Poland consumer banking business. That ACLL was transferred to Other assets beginning June 30, 2025. 2Q25 also includes FX translation.
(5) 3Q25 primarily relates to FX translation.
(6) 4Q25 primarily relates to FX translation.
(7) Represents additional credit reserves recorded as other liabilities on the Consolidated Balance Sheet.
(8) Excludes loans that are carried at fair value of $8.0 billion, $8.2 billion, $9.3 billion, $7.9 billion, and $6.9 billion at December 31, 2024, March 31, 2025, June 30, 2025, September 30, 2025, and December 31, 2025, respectively.
(9) Excludes loans that are carried at fair value of $7.8 billion, $7.9 billion, $9.2 billion, $7.9 billion, and $6.8 billion at December 31, 2024, March 31, 2025, June 30, 2025, September 30, 2025, and December 31, 2025, respectively.
(10) On January 1, 2023, Citi adopted Accounting Standards Update (ASU) 2022-02, Financial Instruments --Credit Losses (Topic 326): TDRs and Vintage Disclosures. The ASU eliminated the accounting and disclosure requirements for TDRs, including the requirement to measure the ACLL for TDRs using a discounted cash flow (DCF) approach. On January 1, 2023, Citi recorded a $352 million decrease in the Allowance for loan losses, along with a $290 million after-tax increase to Retained earnings.
Note: See “Credit Risk—Additional Consumer and Corporate Credit Details” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024, 2023 and 2022, for additional information on Citi's ACLL.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 20
NON-ACCRUAL ASSETS
(In millions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Corporate non-accrual loans by region(1)
North America
$
1,211
$
895
$
923
$
510
$
462
$
304
$
276
$
138
$
285
$
358
$
934
$
978
International
1,505
1,355
1,196
1,043
1,404
1,351
1,209
984
928
903
1,041
904
Total
$
2,716
$
2,250
$
2,119
$
1,553
$
1,866
$
1,655
$
1,485
$
1,122
$
1,213
$
1,261
$
1,975
$
1,882
Corporate non-accrual loans(1)
Banking
$
2,174
$
1,740
$
1,579
$
1,166
$
1,210
$
997
$
1,072
$
757
$
833
$
798
$
953
$
799
Services
84
81
74
70
297
353
185
153
133
123
94
103
Markets
162
105
154
71
111
19
3
3
38
133
735
791
Mexico SBMM & AFG
296
324
312
246
248
286
225
209
209
207
193
189
Total
$
2,716
$
2,250
$
2,119
$
1,553
$
1,866
$
1,655
$
1,485
$
1,122
$
1,213
$
1,261
$
1,975
$
1,882
Consumer non-accrual loans(1)
Wealth
$
812
$
708
$
635
$
677
$
583
$
536
$
577
$
534
$
600
$
525
$
553
$
564
USCC
5
3
2
3
3
-
5
7
8
11
14
15
Mexico Consumer
720
612
549
524
512
493
486
457
480
498
463
479
Asia Consumer(2)
292
303
259
209
38
34
33
30
29
24
25
22
Legacy Holdings Assets—Consumer
545
506
425
413
381
317
300
289
278
263
247
235
Total
$
2,374
$
2,132
$
1,870
$
1,826
$
1,517
$
1,380
$
1,401
$
1,317
$
1,395
$
1,321
$
1,302
$
1,315
Total non-accrual loans (NAL)
$
5,090
$
4,382
$
3,989
$
3,379
$
3,383
$
3,035
$
2,886
$
2,439
$
2,608
$
2,582
$
3,277
$
3,197
Other real estate owned (OREO)(3)
$
43
$
33
$
21
$
27
$
26
$
13
$
16
$
15
$
21
$
31
$
37
$
36
NAL as a percentage of total loans
0.76%
0.65%
0.60%
0.51%
0.51%
0.46%
0.45%
0.37%
0.40%
0.39%
0.49%
0.46%
ACLL as a percentage of NAL
425%
439%
444%
487%
455%
526%
565%
696%
658%
678%
538%
568%
(1) Corporate loans are placed on non-accrual status based on a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer loans and Corporate loans on the Consolidated Balance Sheet.
(2) Asia Consumer also includes Non-accrual assets in Poland (through 1Q25) and Russia.
(3) Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral. Also includes former premises and property for use that is no longer contemplated.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 21
NON-ACCRUAL ASSETS
(In millions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2024
2024
2024
2024
2025
2025
2025
2025
Corporate non-accrual loans by region(1)
North America
$
874
$
456
$
459
$
757
$
822
$
953
$
1,280
$
1,145
International
615
542
485
620
554
769
791
856
Total
$
1,489
$
998
$
944
$
1,377
$
1,376
$
1,722
$
2,071
$
2,001
Corporate non-accrual loans(1)
Banking
$
606
$
462
$
348
$
498
$
510
$
502
$
820
$
919
Services
27
30
96
65
110
134
187
337
Markets
686
362
390
715
631
932
926
622
Mexico SBMM & AFG
170
144
110
99
125
154
138
123
Total
$
1,489
$
998
$
944
$
1,377
$
1,376
$
1,722
$
2,071
$
2,001
Consumer non-accrual loans(1)
Wealth
$
551
$
572
$
557
$
673
$
702
$
945
$
886
$
847
USCC
15
16
19
21
18
21
22
22
Mexico Consumer
465
425
415
411
416
485
526
585
Asia Consumer(2)
23
22
21
19
20
16
16
15
Legacy Holdings Assets—Consumer
227
217
210
186
172
165
157
149
Total
$
1,281
$
1,252
$
1,222
$
1,310
$
1,328
$
1,632
$
1,607
$
1,618
Total non-accrual loans (NAL)
$
2,770
$
2,250
$
2,166
$
2,687
$
2,704
$
3,354
$
3,678
$
3,619
Other real estate owned (OREO)(3)
$
26
$
27
$
25
$
18
$
21
$
26
$
29
$
22
NAL as a percentage of total loans
0.41%
0.33%
0.31%
0.39%
0.39%
0.46%
0.50%
0.48%
ACLL as a percentage of NAL
661%
810%
847%
691%
693%
570%
522%
532%
(1) Corporate loans are placed on non-accrual status based on a review by Citigroup's risk officers. Corporate non-accrual loans may still be current on interest payments. With limited exceptions, the following practices are applied for consumer loans: consumer loans, excluding credit cards and mortgages, are placed on non-accrual status at 90 days past due, and are charged off at 120 days past due; residential mortgage loans are placed on non-accrual status at 90 days past due and written down to net realizable value at 180 days past due. Consistent with industry conventions, Citigroup generally accrues interest on credit card loans until such loans are charged off, which typically occurs at 180 days contractual delinquency. As such, the non-accrual loan disclosures do not include credit card loans. The balances above represent non-accrual loans within Consumer loans and Corporate loans on the Consolidated Balance Sheet.
(2) Asia Consumer also includes Non-accrual assets in Poland (through 1Q25) and Russia.
(3) Represents the carrying value of all property acquired by foreclosure or other legal proceedings when Citigroup has taken possession of the collateral. Also includes former premises and property for use that is no longer contemplated.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 21
COMMON EQUITY TIER 1 (CET1) CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS
(In millions of dollars or shares, except ratios)
Mar. 31,
Jun. 30,
Sep. 30,
Dec. 31,
Mar. 31,
Jun. 30,
Sep. 30,
Dec. 31,
Mar. 31,
Jun. 30,
CET1 Capital and Ratio and Components(1)
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
Citigroup common stockholders' equity(3)
$
182,402
$
184,289
$
183,005
$
183,108
$
178,845
$
180,150
$
179,696
$
182,325
$
188,186
$
188,610
Add: qualifying noncontrolling interests
132
138
136
143
126
129
113
128
207
209
Regulatory capital adjustments and deductions:
Add:
CECL transition provision(4)
4,359
3,774
3,389
3,028
2,271
2,271
2,271
2,271
1,514
1,514
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax
1,037
864
663
101
(1,440)
(2,106)
(2,869)
(2,522)
(2,161)
(1,990)
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax
(1,172)
(1,258)
(1,317)
(896)
27
2,145
3,211
1,441
1,037
307
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)(5)
20,854
20,999
20,689
20,619
20,120
19,504
18,796
19,007
18,844
18,933
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs
4,054
3,986
3,899
3,800
3,698
3,599
3,492
3,411
3,607
3,531
Defined benefit pension plan net assets and other
1,485
2,040
2,068
2,080
2,230
2,038
1,932
1,935
1,999
2,020
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards(6)
11,691
11,192
10,897
11,270
11,701
11,679
11,690
12,197
11,783
11,461
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs(6)(8)
-
-
-
-
1,157
798
1,261
325
1,045
1,828
CET1 Capital
$
148,944
$
150,378
$
149,631
$
149,305
$
143,749
$
144,893
$
144,567
$
148,930
$
153,753
$
154,243
Risk-Weighted Assets (RWA)(4)
$
1,260,080
$
1,271,046
$
1,284,316
$
1,219,175
$
1,263,298
$
1,217,459
$
1,176,749
$
1,142,985
$
1,144,359
$
1,153,450
CET1 Capital ratio (CET1/RWA)
11.82%
11.83%
11.65%
12.25%
11.38%
11.90%
12.29%
13.03%
13.44%
13.37%
Supplementary Leverage Ratio and Components
CET1(4)
$
148,944
$
150,378
$
149,631
$
149,305
$
143,749
$
144,893
$
144,567
$
148,930
$
153,753
$
154,243
Additional Tier 1 Capital (AT1)(7)
21,540
19,258
19,271
20,263
20,266
20,266
20,263
20,215
21,496
21,500
Total Tier 1 Capital (T1C) (CET1 + AT1)
$
170,484
$
169,636
$
168,902
$
169,568
$
164,015
$
165,159
$
164,830
$
169,145
$
175,249
$
175,743
Total Leverage Exposure (TLE)(4)
$
2,450,412
$
2,903,655
$
2,911,050
$
2,957,764
$
2,939,533
$
2,935,289
$
2,888,535
$
2,906,773
$
2,939,744
$
2,943,546
Supplementary Leverage ratio (T1C/TLE)(4)
6.96%
5.84%
5.80%
5.73%
5.58%
5.63%
5.71%
5.82%
5.96%
5.97%
(1) See footnote 2 on page 1.
(2) Not used.
(3) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.
(4) See footnote 3 on page 1.
(5) Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.
(6) Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit, and general business credit tax carry-forwards and DTAs arising from temporary differences (future deductions) that are deducted from CET1 Capital exceeding the 10% limitation.
(7) Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.
(8) Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences, and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.
Reclassified to conform to the current period's presentation.
Page 22
COMMON EQUITY TIER 1 (CET1) CAPITAL AND SUPPLEMENTARY LEVERAGE RATIOS
(In millions of dollars or shares, except ratios)
Sep. 30,
Dec. 31,
Mar. 31,
Jun. 30,
Sep. 30,
Dec. 31,
Mar. 31,
Jun. 30,
Sep. 30,
Dec. 31,
CET1 Capital and Ratio and Components(1)
2023
2023
2024
2024
2024
2024
2025
2025
2025
2025
Citigroup common stockholders' equity(3)
$
190,134
$
187,937
$
189,059
$
190,283
$
192,796
$
190,815
$
194,125
$
196,931
$
194,038
$
192,304
Add: qualifying noncontrolling interests
193
153
159
153
168
186
192
200
217
226
Regulatory capital adjustments and deductions:
Add:
CECL transition provision(4)
1,514
1,514
757
757
757
757
-
-
-
-
Less:
Accumulated net unrealized gains (losses) on cash flow hedges, net of tax
(1,259)
(1,406)
(914)
(629)
(773)
(220)
(213)
(141)
(116)
10
Cumulative unrealized net gain (loss) related to changes in fair value of financial liabilities attributable to own creditworthiness, net of tax
625
(410)
(1,031)
(760)
(906)
(910)
(32)
(408)
(1,443)
(1,919)
Intangible assets:
Goodwill, net of related deferred tax liabilities (DTLs)(5)
18,552
18,778
18,647
18,315
18,397
17,994
18,122
18,524
17,876
18,482
Identifiable intangible assets other than mortgage servicing rights (MSRs), net of related DTLs
3,444
3,349
3,258
3,138
3,061
3,357
3,291
3,236
3,169
3,135
Defined benefit pension plan net assets and other
1,340
1,317
1,386
1,425
1,447
1,504
1,532
1,610
1,725
1,822
Deferred tax assets (DTAs) arising from net operating loss, foreign tax credit and general business credit carry-forwards(6)
11,219
12,075
11,936
11,695
11,318
11,628
11,517
11,163
10,807
10,784
Excess over 10% / 15% limitations for other DTAs, certain common stock investments and MSRs(6)(8)
1,786
2,306
3,551
3,652
3,071
3,042
4,261
4,204
3,757
3,117
CET1 Capital
$
156,134
$
153,595
$
153,142
$
154,357
$
158,106
$
155,363
$
155,839
$
158,943
$
158,480
$
157,099
Risk-Weighted Assets (RWA)(4)
$
1,148,550
$
1,148,608
$
1,138,546
$
1,135,750
$
1,153,150
$
1,139,988
$
1,162,306
$
1,178,756
$
1,194,274
$
1,192,174
CET1 Capital ratio (CET1/RWA)
13.59%
13.37%
13.45%
13.59%
13.71%
13.63%
13.41%
13.48%
13.27%
13.18%
Supplementary Leverage Ratio and Components
CET1(4)
$
156,134
$
153,595
$
153,142
$
154,357
$
158,106
$
155,363
$
155,839
$
158,943
$
158,480
$
157,099
Additional Tier 1 Capital (AT1)(7)
20,744
18,909
18,923
19,426
17,682
19,164
19,675
17,676
20,313
22,576
Total Tier 1 Capital (T1C) (CET1 + AT1)
$
176,878
$
172,504
$
172,065
$
173,783
$
175,788
$
174,527
$
175,514
$
176,619
$
178,793
$
179,675
Total Leverage Exposure (TLE)(4)
$
2,927,392
$
2,964,954
$
2,948,323
$
2,949,534
$
3,005,709
$
2,985,418
$
3,033,450
$
3,195,323
$
3,236,413
$
3,276,212
Supplementary Leverage ratio (T1C/TLE)(4)
6.04%
5.82%
5.84%
5.89%
5.85%
5.85%
5.79%
5.53%
5.52%
5.48%
(1) See footnote 2 on page 1.
(2) Not used.
(3) Excludes issuance costs related to outstanding preferred stock in accordance with Federal Reserve Board regulatory reporting requirements.
(4) See footnote 3 on page 1.
(5) Includes goodwill “embedded” in the valuation of significant common stock investments in unconsolidated financial institutions.
(6) Represents deferred tax excludable from Basel III CET1 Capital, which includes net DTAs arising from net operating loss, foreign tax credit, and general business credit tax carry-forwards and DTAs arising from temporary differences (future deductions) that are deducted from CET1 Capital exceeding the 10% limitation.
(7) Additional Tier 1 Capital primarily includes qualifying noncumulative perpetual preferred stock and qualifying trust preferred securities.
(8) Assets subject to 10% / 15% limitations include MSRs, DTAs arising from temporary differences, and significant common stock investments in unconsolidated financial institutions. For all periods presented, the deduction related only to DTAs arising from temporary differences that exceeded the 10% limitation.
Reclassified to conform to the current period's presentation.
Page 22
TANGIBLE COMMON EQUITY, COMMON EQUITY, BOOK VALUE
PER SHARE, TANGIBLE BOOK VALUE PER SHARE (TBVPS),
RETURNS ON COMMON EQUITY (RoCE) AND
TANGIBLE COMMON EQUITY (RoTCE)
(In millions of dollars or shares, except per share amounts and ratios)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share
Common stockholders’ equity
$
182,269
$
184,164
$
182,880
$
182,977
$
178,714
$
180,019
$
179,565
$
182,194
$
188,050
$
188,474
$
190,008
$
187,853
Less:
Goodwill
21,905
22,060
21,573
21,299
19,865
19,597
19,326
19,691
19,882
19,998
19,829
20,098
Identifiable Intangible assets (other than MSRs)
4,308
4,268
4,144
4,091
4,002
3,926
3,838
3,763
3,974
3,895
3,811
3,730
Goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS
-
-
257
510
1,384
1,081
794
589
246
246
49
-
Tangible common equity (TCE)(1)
$
156,056
$
157,836
$
156,906
$
157,077
$
153,463
$
155,415
$
155,607
$
158,151
$
163,948
$
164,335
$
166,319
$
164,025
Common shares outstanding (CSO)
2,067.0
2,026.8
1,984.3
1,984.4
1,941.9
1,936.7
1,936.9
1,937.0
1,946.8
1,925.7
1,913.9
1,903.1
Book value per share (common equity/CSO)
$
88.18
$
90.86
$
92.16
$
92.21
$
92.03
$
92.95
$
92.71
$
94.06
$
96.59
$
97.87
$
99.28
$
98.71
Tangible book value per share (TCE/CSO)(1)
$
75.50
$
77.87
$
79.07
$
79.16
$
79.03
$
80.25
$
80.34
$
81.65
$
84.21
$
85.34
$
86.90
$
86.19
Return on Common Equity and Return on Tangible Common Equity (RoTCE)
Net income (loss)
$
7,942
$
6,193
$
4,644
$
3,173
$
4,306
$
4,547
$
3,479
$
2,513
$
4,606
$
2,915
$
3,546
$
(1,839)
Preferred dividends
292
253
266
229
279
238
277
238
277
288
333
300
Net income (loss) available to common shareholders
7,650
5,940
4,378
2,944
4,027
4,309
3,202
2,275
4,329
2,627
3,213
(2,139)
Average common stockholders’ equity
180,421
183,230
183,613
182,419
181,169
178,981
179,699
180,523
184,107
188,214
189,158
189,440
Less:
Average Goodwill and Intangibles
25,698
26,284
26,242
25,427
25,899
24,542
24,188
23,644
23,057
24,072
23,831
24,268
Average TCE
$
154,723
$
156,946
$
157,371
$
156,992
$
155,270
$
154,439
$
155,511
$
156,879
$
161,050
$
164,142
$
165,327
$
165,172
Return on average common stockholders’ equity (RoCE)
17.2%
13.0%
9.5%
6.4%
9.0%
9.7%
7.1%
5.0%
9.5%
5.6%
6.7%
-4.5%
RoTCE
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
-5.1%
Average TCE (in billions of dollars)(1)(2)
Services
$
23.9
$
23.9
$
23.9
$
23.9
$
30.3
$
30.3
$
30.3
$
30.3
$
31.5
$
31.5
$
31.5
$
31.5
Markets
44.9
44.9
44.9
44.9
55.2
55.2
55.2
55.2
56.9
56.9
56.9
56.9
Banking
20.2
20.2
20.2
20.2
10.2
10.2
10.2
10.2
8.9
8.9
8.9
8.9
Wealth
17.2
17.2
17.2
17.2
18.2
18.2
18.2
18.2
17.2
17.2
17.2
17.2
USCC
16.7
16.7
16.7
16.7
16.4
16.4
16.4
16.4
18.1
18.1
18.1
18.1
All Other
31.8
34.0
34.5
34.1
25.0
24.1
25.2
26.6
28.5
31.5
32.7
32.6
Total Citi average TCE
$
154.7
$
156.9
$
157.4
$
157.0
$
155.3
$
154.4
$
155.5
$
156.9
$
161.1
$
164.1
$
165.3
$
165.2
Add:
Average goodwill
$
23.5
$
22.0
$
21.9
$
20.9
$
21.0
$
19.4
$
19.4
$
19.1
$
18.7
$
20.0
$
19.9
$
20.4
Average intangible assets (other than MSRs)
2.2
4.3
4.2
4.1
4.0
4.0
3.9
3.8
3.9
3.9
3.9
3.8
Average goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS
-
-
0.1
0.4
0.9
1.2
0.9
0.7
0.4
0.2
0.1
-
Total Citi average common stockholders’ equity (in billions of dollars)
$
180.4
$
183.2
$
183.6
$
182.4
$
181.2
$
179.0
$
179.7
$
180.5
$
184.1
$
188.2
$
189.2
$
189.4
Income (loss) available to common shareholders (in billions of dollars)(3)
Services
$
0.9
$
1.0
$
0.9
$
0.9
$
0.7
$
1.5
$
1.6
$
1.5
$
1.4
$
1.4
$
1.5
$
0.8
Markets
2.9
1.6
1.4
0.7
2.5
1.9
0.9
0.9
1.9
1.2
1.1
(0.1)
Banking
1.7
0.9
0.8
0.8
(0.4)
0.6
(0.2)
(0.2)
(0.1)
(0.1)
-
(0.3)
Wealth
0.6
0.5
0.5
0.1
0.2
-
-
(0.1)
(0.1)
(0.1)
-
(0.1)
USCC
1.9
1.4
1.6
1.6
1.8
0.6
0.9
0.3
0.7
0.7
0.9
0.3
All Other-managed basis(3)
(0.3)
0.5
(0.2)
(0.1)
(0.2)
(0.3)
(0.3)
(0.2)
(0.1)
(0.4)
(0.5)
(2.6)
Reconciling Items-divestiture-related impacts(4)
-
-
(0.6)
(1.1)
(0.6)
-
0.3
0.1
0.6
(0.1)
0.2
(0.1)
Total Citi income (loss) available to common shareholders(3)
$
7.7
$
5.9
$
4.4
$
2.9
$
4.0
$
4.3
$
3.2
$
2.3
$
4.3
$
2.6
$
3.2
$
(2.1)
RoTCE(1)
Services
15.5%
17.0%
15.2%
15.7%
8.8%
20.3%
21.3%
19.3%
18.4%
17.2%
18.6%
10.2%
Markets
26.3%
14.7%
12.5%
6.1%
18.3%
13.5%
6.7%
6.3%
13.3%
8.6%
7.3%
(0.5%)
Banking
34.4%
18.2%
15.0%
15.0%
(14.6%)
21.6%
(8.0%)
(7.7%)
(6.2%)
(6.4%)
(1.6%)
(14.8%)
Wealth
15.1%
11.9%
10.4%
2.5%
4.0%
0.8%
0.6%
(1.9%)
(1.6%)
(3.2%)
(0.6%)
(2.7%)
USCC
46.9%
33.4%
37.1%
38.3%
44.4%
15.2%
20.9%
8.1%
14.6%
15.1%
20.0%
7.4%
All Other-managed basis(3)
(5.8%)
5.5%
(1.7%)
(1.3%)
(2.2%)
(5.4%)
(4.7%)
(3.5%)
(1.0%)
(3.1%)
(4.6%)
(32.3%)
Reconciling Items-divestiture-related impacts(4)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Total Citi RoTCE
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
(5.1%)
Page 23
(1)
TCE, TBVPS, and RoTCE are non-GAAP financial measures. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.
(2)
Tangible Common Equity is allocated to each segment based on Citi’s allocation methodology, which incorporates Basel III standardized risk-weighted assets, the global systemically important banks (GSIB) surcharge, and a simulation of TCE in severe stress environments, as well as a leverage component. The allocation methodology, including underlying assumptions and judgments used to allocate TCE, is periodically reassessed and as a result, the TCE allocated to the segments may change.
(3)
Represents Net income (loss), less Preferred Stock dividends. See table above for dividend amounts.
(4)
Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other–Legacy Franchises on a managed basis. For a reconciliation of these results, see page 14.
Note:
See “All Other-Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 23
TANGIBLE COMMON EQUITY, COMMON EQUITY, BOOK VALUE
PER SHARE, TANGIBLE BOOK VALUE PER SHARE (TBVPS),
RETURNS ON COMMON EQUITY (RoCE) AND
TANGIBLE COMMON EQUITY (RoTCE)
(In millions of dollars or shares, except per share amounts and ratios)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Tangible Common Equity, Book Value Per Share and Tangible Book Value Per Share
Common stockholders’ equity
$
188,985
$
190,210
$
192,733
$
190,748
$
194,058
$
196,872
$
193,973
$
192,241
Less:
Goodwill
20,042
19,704
19,691
19,300
19,422
19,878
19,126
19,098
Identifiable Intangible assets (other than MSRs)
3,636
3,517
3,438
3,734
3,679
3,639
3,582
3,525
Goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS
-
-
16
16
16
16
-
-
Tangible common equity (TCE)(1)
$
165,307
$
166,989
$
169,588
$
167,698
$
170,941
$
173,339
$
171,265
$
169,618
Common shares outstanding (CSO)
1,907.4
1,907.8
1,891.3
1,877.1
1,867.7
1,840.9
1,789.3
1,747.5
Book value per share (common equity/CSO)
$
99.08
$
99.70
$
101.91
$
101.62
$
103.90
$
106.94
$
108.41
$
110.01
Tangible book value per share (TCE/CSO)(1)
$
86.67
$
87.53
$
89.67
$
89.34
$
91.52
$
94.16
$
95.72
$
97.06
Return on Common Equity and Return on Tangible Common Equity (RoTCE)
Net income (loss)
$
3,371
$
3,217
$
3,238
$
2,856
$
4,064
$
4,019
$
3,752
$
2,471
$
21,952
$
14,845
$
9,228
$
12,682
$
14,306
Preferred dividends
279
242
277
256
269
287
274
284
1,040
1,032
1,198
1,054
1,114
Net income (loss) available to common shareholders
3,092
2,975
2,961
2,600
3,795
3,732
3,478
2,187
20,912
13,813
8,030
11,628
13,192
Average common stockholders’ equity
188,001
189,211
191,444
191,624
191,794
195,622
195,471
193,205
182,421
180,093
187,730
190,070
194,023
Less:
Average Goodwill and Intangibles
23,335
23,063
23,155
22,981
22,474
23,482
23,169
22,763
26,168
24,150
24,374
23,349
23,451
Average TCE
$
164,666
$
166,148
$
168,289
$
168,643
$
169,320
$
172,140
$
172,302
$
170,442
$
156,253
$
155,943
$
163,356
$
166,721
$
170,572
Return on average common stockholders’ equity (RoCE)
6.6%
6.3%
6.2%
5.4%
8.0%
7.7%
7.1%
4.5%
11.5%
7.7%
4.3%
6.1%
6.8%
RoTCE
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
8.0%
5.1%
13.4%
8.9%
4.9%
7.0%
7.7%
Average TCE (in billions of dollars)(1)(2)
Services
$
31.2
$
31.2
$
31.2
$
31.2
$
33.0
$
33.0
$
33.0
$
33.0
$
23.9
$
30.3
$
31.5
$
31.2
$
33.0
Markets
56.6
56.6
56.6
56.6
53.5
53.5
53.5
53.5
44.9
55.2
56.9
56.6
53.5
Banking
12.8
12.8
12.8
12.8
9.2
9.2
9.2
9.2
20.2
10.2
8.9
12.8
9.2
Wealth
16.6
16.6
16.6
16.6
15.4
15.4
15.4
15.4
17.2
18.2
17.2
16.6
15.4
USCC
21.8
21.8
21.8
21.8
20.3
20.3
20.3
20.3
16.7
16.4
18.1
21.8
20.3
All Other
25.7
27.1
29.3
29.6
37.9
40.7
40.9
39.0
33.4
25.6
30.8
27.7
39.2
Total Citi average TCE
$
164.7
$
166.1
$
168.3
$
168.6
$
169.3
$
172.1
$
172.3
$
170.4
$
156.3
$
155.9
$
163.4
$
166.7
$
170.6
Add:
Average goodwill
$
19.6
$
19.5
$
19.6
$
19.4
$
18.8
$
19.8
$
19.6
$
19.2
$
22.3
$
19.5
$
20.1
$
20.0
$
19.8
Average intangible assets (other than MSRs)
3.7
3.6
3.5
3.6
3.7
3.7
3.6
3.6
3.7
3.9
3.8
3.5
3.6
Average goodwill and identifiable intangible assets (other than MSRs) related to businesses HFS
-
-
-
-
-
-
-
-
0.1
0.8
0.4
(0.1)
-
Total Citi average common stockholders’ equity (in billions of dollars)
$
188.0
$
189.2
$
191.4
$
191.6
$
191.8
$
195.6
$
195.5
$
193.2
$
182.4
$
180.1
$
187.7
$
190.1
$
194.0
Income (loss) available to common shareholders (in billions of dollars)(3)
Services
$
1.7
$
1.7
$
1.8
$
1.8
$
1.8
$
1.7
$
2.1
$
2.5
$
3.8
$
5.3
$
5.1
$
7.0
$
8.1
Markets
1.4
1.5
1.1
1.0
1.8
1.8
1.7
0.8
6.7
6.1
4.1
5.1
6.2
Banking
0.2
0.2
-
0.4
0.2
0.1
0.3
0.4
4.2
(0.2)
(0.6)
0.9
0.9
Wealth
-
0.1
0.1
0.2
0.2
0.4
0.3
0.3
1.7
0.2
(0.3)
0.3
1.2
USCC
0.5
0.3
0.7
0.6
0.8
0.8
0.9
0.9
6.5
3.6
2.6
2.1
3.4
All Other-managed basis(3)
(0.6)
(0.8)
(0.7)
(1.4)
(1.0)
(0.9)
(1.0)
(2.6)
(0.4)
(1.0)
(3.6)
(3.6)
(5.5)
Reconciling Items-divestiture-related impacts(4)
(0.1)
-
-
-
-
(0.2)
(0.8)
(0.1)
(1.6)
(0.2)
0.7
(0.2)
(1.1)
Total Citi income (loss) available to common shareholders(3)
$
3.1
$
3.0
$
3.0
$
2.6
$
3.8
$
3.7
$
3.5
$
2.2
$
20.9
$
13.8
$
8.0
$
11.6
$
13.2
RoTCE(1)
Services
22.0%
21.3%
22.9%
23.3%
22.5%
20.8%
25.0%
30.0%
15.8%
17.5%
16.1%
22.4%
24.6%
Markets
10.3%
10.5%
8.0%
7.3%
14.0%
13.5%
12.6%
6.2%
14.8%
11.1%
7.1%
9.0%
11.6%
Banking
7.4%
5.1%
1.3%
13.0%
9.8%
4.1%
11.6%
15.3%
20.6%
(2.2%)
(7.3%)
6.7%
10.2%
Wealth
(0.4%)
1.2%
2.3%
4.1%
5.0%
10.0%
7.8%
7.7%
9.9%
0.8%
(2.0%)
1.8%
7.6%
USCC
9.9%
5.2%
13.0%
10.1%
16.7%
15.0%
18.2%
17.3%
38.9%
22.0%
14.3%
9.6%
16.8%
All Other-managed basis(3)
(11.3%)
(9.1%)
(10.6%)
(18.4%)
(12.0%)
(8.3%)
(10.0%)
(26.2%)
(0.7%)
(3.9%)
(10.9%)
(12.6%)
(14.2%)
Reconciling Items-divestiture-related impacts(4)
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Total Citi RoTCE
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
8.0%
5.1%
13.4%
8.9%
4.9%
7.0%
7.7%
Page 23
(1)
TCE, TBVPS, and RoTCE are non-GAAP financial measures. RoTCE represents annualized net income available to common shareholders as a percentage of average TCE.
(2)
Tangible Common Equity is allocated to each segment based on Citi’s allocation methodology, which incorporates Basel III standardized risk-weighted assets, the global systemically important banks (GSIB) surcharge, and a simulation of TCE in severe stress environments, as well as a leverage component. The allocation methodology, including underlying assumptions and judgments used to allocate TCE, is periodically reassessed and as a result, the TCE allocated to the segments may change.
(3)
Represents Net income (loss), less Preferred Stock dividends. See table above for dividend amounts.
(4)
Reconciling Items consist of the divestiture-related impacts excluded from the results of All Other, as well as All Other–Legacy Franchises on a managed basis. For a reconciliation of these results, see page 14.
Note:
See “All Other-Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 23
FX Impact
(In millions of dollars)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
2024
2024
2024
2024
Foreign currency (FX) translation impact
Total Citigroup
Total revenues-as reported
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
$
21,016
$
20,032
$
20,209
$
19,465
Impact of FX translation(1)
(389)
(502)
(430)
(344)
(316)
(235)
(324)
(194)
(529)
(567)
(562)
(538)
(292)
(339)
253
313
Total revenues-Ex-FX(1)
$
19,214
$
17,178
$
16,935
$
16,582
$
18,784
$
19,324
$
18,097
$
17,708
$
20,835
$
18,757
$
19,464
$
16,814
$
20,724
$
19,693
$
20,462
$
19,778
Total operating expenses-as reported
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
$
14,107
$
13,246
$
13,144
$
13,070
Impact of FX translation(1)
(187)
(268)
(175)
(298)
(68)
113
297
237
34
(5)
(10)
(25)
-
42
100
296
Total operating expenses-Ex-FX(1)
$
11,162
$
11,130
$
11,520
$
13,143
$
13,011
$
12,427
$
12,959
$
13,118
$
13,240
$
13,453
$
13,388
$
15,883
$
14,107
$
13,288
$
13,244
$
13,366
Total provisions for credit losses and PBC-as reported
$
(2,055)
$
(1,066)
$
(192)
$
(465)
$
755
$
1,274
$
1,365
$
1,845
$
1,975
$
1,824
$
1,840
$
3,547
$
2,365
$
2,476
$
2,675
$
2,593
Impact of FX translation(1)
36
(36)
(16)
(13)
(5)
(17)
55
51
(27)
(18)
(46)
(206)
27
13
13
215
Total provisions for credit losses and PBC-Ex-FX(1)
$
(2,019)
$
(1,102)
$
(208)
$
(478)
$
750
$
1,257
$
1,420
$
1,896
$
1,948
$
1,806
$
1,794
$
3,341
$
2,392
$
2,489
$
2,688
$
2,808
Total EBIT-as reported
$
10,309
$
7,348
$
5,862
$
3,950
$
5,266
$
5,971
$
4,394
$
3,176
$
6,183
$
4,042
$
4,788
$
(2,103)
$
4,544
$
4,310
$
4,390
$
3,802
Impact of FX translation(1)
(238)
(198)
(239)
(33)
(243)
(331)
(676)
(482)
(536)
(544)
(506)
(307)
(319)
(394)
140
(198)
Total EBIT-Ex-FX(1)
$
10,071
$
7,150
$
5,623
$
3,917
$
5,023
$
5,640
$
3,718
$
2,694
$
5,647
$
3,498
$
4,282
$
(2,410)
$
4,225
$
3,916
$
4,530
$
3,604
Total EOP Loans-as reported
$
666
$
677
$
665
$
668
$
660
$
657
$
646
$
657
$
652
$
661
$
666
$
689
$
675
$
688
$
689
$
695
Impact of FX translation(1)
(9)
(11)
(6)
(5)
(2)
6
14
7
3
1
6
1
2
7
3
14
Total EOP Loans-Ex-FX(1)
$
657
$
666
$
659
$
663
$
658
$
663
$
660
$
664
$
655
$
662
$
672
$
690
$
677
$
695
$
692
$
709
Total EOP Deposits-as reported
$
1,301
$
1,310
$
1,348
$
1,317
$
1,334
$
1,322
$
1,307
$
1,366
$
1,331
$
1,320
$
1,274
$
1,309
$
1,307
$
1,278
$
1,310
$
1,285
Impact of FX translation(1)
(17)
(22)
(14)
(10)
(9)
11
31
12
5
5
13
-
8
18
7
33
Total EOP Deposits-Ex-FX(1)
$
1,284
$
1,288
$
1,334
$
1,307
$
1,325
$
1,333
$
1,338
$
1,378
$
1,336
$
1,325
$
1,287
$
1,309
$
1,315
$
1,296
$
1,317
$
1,318
Total Average Loans-as reported
$
666
$
670
$
669
$
667
$
649
$
658
$
655
$
653
$
654
$
654
$
662
$
675
$
679
$
680
$
687
$
688
Impact of FX translation(1)
(13)
(13)
(9)
(6)
(4)
1
7
8
3
1
1
2
1
3
3
8
Total Average Loans-Ex-FX(1)
$
653
$
657
$
660
$
661
$
645
$
659
$
662
$
661
$
657
$
655
$
663
$
677
$
680
$
683
$
690
$
696
Total Average Deposits-as reported
$
1,304
$
1,321
$
1,343
$
1,370
$
1,334
$
1,323
$
1,316
$
1,361
$
1,363
$
1,338
$
1,315
$
1,320
$
1,326
$
1,310
$
1,311
$
1,320
Impact of FX translation(1)
(27)
(27)
(22)
(15)
(12)
(2)
14
18
5
1
3
6
4
9
9
20
Total Average Deposits-Ex-FX(1)
$
1,277
$
1,294
$
1,321
$
1,355
$
1,322
$
1,321
$
1,330
$
1,379
$
1,368
$
1,339
$
1,318
$
1,326
$
1,330
$
1,319
$
1,320
$
1,340
Legacy Franchises-Mexico Consumer/SBMM
All Other-Legacy Franchises (LF) Mexico Consumer/SBMM revenues-as reported
$
1,110
$
1,152
$
1,139
$
1,138
$
1,111
$
1,161
$
1,146
$
1,219
$
1,289
$
1,406
$
1,519
$
1,454
$
1,563
$
1,633
$
1,523
$
1,422
Impact of FX translation(1)
118
95
101
135
105
89
94
68
10
(36)
(75)
(50)
(95)
(61)
72
143
All Other-LF Mexico Consumer/SBMM revenues-Ex-FX(1)
1,228
1,247
1,240
1,273
1,216
1,250
1,240
1,287
1,299
1,370
1,444
1,404
1,468
1,572
1,595
1,565
All Other-LF Mexico Consumer/SBMM expenses-as reported
$
770
$
789
$
762
$
783
$
776
$
851
$
852
$
940
$
964
$
1,028
$
1,075
$
1,130
$
1,184
$
1,116
$
1,043
$
1,072
Impact of FX translation(1)
77
61
64
84
69
65
70
51
4
(32)
(61)
(45)
(79)
(45)
51
110
All Other-LF Mexico Consumer/SBMM expenses-Ex-FX(1)
847
850
826
867
845
916
922
991
968
996
1,014
1,085
1,105
1,071
1,094
1,182
(1)
Reflects the impact of foreign currency (FX) translation into U.S. dollars applying the fourth quarter of 2025 average exchange rates for all quarterly periods, and full-year 2025 average exchange rates for full year results, with the exception of EOP loans and deposits, which were calculated based on exchange rates as of December 31, 2025. Citi's results excluding the impact of FX translation are non-GAAP financial measures.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 24
FX Impact
(In millions of dollars)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2025
2025
2025
2025
2021
2022
2023
2024
2025
Foreign currency (FX) translation impact
Total Citigroup
Total revenues-as reported
$
21,596
$
21,668
$
22,090
$
19,871
$
71,574
$
74,982
$
78,066
$
80,722
$
85,225
Impact of FX translation(1)
372
88
44
-
(2,033)
(1,503)
(2,714)
(456)
-
Total revenues-Ex-FX(1)
$
21,968
$
21,756
$
22,134
$
19,871
$
69,541
$
73,479
$
75,352
$
80,266
$
85,225
Total operating expenses-as reported
$
13,425
$
13,577
$
14,290
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
55,132
Impact of FX translation(1)
322
31
18
-
(1,250)
197
(374)
47
-
Total operating expenses-Ex-FX(1)
$
13,747
$
13,608
$
14,308
$
13,840
$
46,633
$
51,133
$
55,596
$
53,614
$
55,132
Total provisions for credit losses and PBC-as reported
$
2,723
$
2,872
$
2,450
$
2,220
$
(3,778)
$
5,239
$
9,186
$
10,109
$
10,265
Impact of FX translation(1)
71
20
5
-
(29)
8
(509)
109
-
Total provisions for credit losses and PBC-Ex-FX(1)
$
2,794
$
2,892
$
2,455
$
2,220
$
(3,807)
$
5,247
$
8,677
$
10,218
$
10,265
Total EBIT-as reported
$
5,448
$
5,219
$
5,350
$
3,811
$
27,469
$
18,807
$
12,910
$
17,046
$
19,828
Impact of FX translation(1)
(21)
37
21
-
(754)
(1,708)
(1,831)
(612)
-
Total EBIT-Ex-FX(1)
$
5,427
$
5,256
$
5,371
$
3,811
$
26,715
$
17,099
$
11,079
$
16,434
$
19,828
Total EOP Loans-as reported
$
702
$
725
$
734
$
752
Impact of FX translation(1)
10
1
-
-
Total EOP Loans-Ex-FX(1)
$
712
$
726
$
734
$
752
Total EOP Deposits-as reported
$
1,316
$
1,358
$
1,384
$
1,404
Impact of FX translation(1)
22
-
1
-
Total EOP Deposits-Ex-FX(1)
$
1,338
$
1,358
$
1,385
$
1,404
Total Average Loans-as reported
$
691
$
712
$
725
$
737
$
668
$
654
$
661
$
684
$
716
Impact of FX translation(1)
10
3
-
-
(13)
1
(1)
1
-
Total Average Loans-Ex-FX(1)
$
701
$
715
$
725
$
737
$
655
$
655
$
660
$
685
$
716
Total Average Deposits-as reported
$
1,305
$
1,343
$
1,382
$
1,422
$
1,335
$
1,334
$
1,334
$
1,317
$
1,363
Impact of FX translation(1)
24
6
(1)
-
(29)
(2)
(4)
3
-
Total Average Deposits-Ex-FX(1)
$
1,329
$
1,349
$
1,381
$
1,422
$
1,306
$
1,332
$
1,330
$
1,320
$
1,363
Legacy Franchises-Mexico Consumer/SBMM
All Other-Legacy Franchises (LF) Mexico Consumer/SBMM revenues-as reported
$
1,467
$
1,536
$
1,722
$
1,775
$
4,539
$
4,637
$
5,668
$
6,141
$
6,500
Impact of FX translation(1)
158
68
26
-
254
179
(334)
(189)
-
All Other-LF Mexico Consumer/SBMM revenues-Ex-FX(1)
1,625
1,604
1,748
1,775
$
4,793
$
4,816
$
5,334
$
5,952
$
6,500
All Other-LF Mexico Consumer/SBMM expenses-as reported
$
1,060
$
984
$
1,772
$
962
$
3,104
$
3,419
$
4,197
$
4,415
$
4,778
Impact of FX translation(1)
129
51
31
-
162
127
(283)
(145)
-
All Other-LF Mexico Consumer/SBMM expenses-Ex-FX(1)
1,189
1,035
1,803
962
$
3,266
$
3,546
$
3,914
$
4,270
$
4,778
(1)
Reflects the impact of foreign currency (FX) translation into U.S. dollars applying the fourth quarter of 2025 average exchange rates for all quarterly periods, and full-year 2025 average exchange rates for full year results, with the exception of EOP loans and deposits, which were calculated based on exchange rates as of December 31, 2025. Citi's results excluding the impact of FX translation are non-GAAP financial measures.
NM Not meaningful.
Reclassified to conform to the current period's presentation.
Page 24
Reconciliation of Adjusted Results (Page 1)
(In millions of dollars, except per share amounts and as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Total Citigroup revenues, net interest income (NII) and non-interest revenues (NIR)
Total Citigroup revenues-as reported
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
Less:
Total Divestiture-related Impacts on Revenues(1)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total Citigroup revenues, excluding divestitures impacts(*)
$
19,603
$
17,680
$
18,022
$
16,939
$
19,147
$
19,481
$
17,807
$
17,693
$
20,346
$
19,330
$
19,630
$
17,414
Total Citigroup revenues-as reported
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
Less:
Notable Item-Russia HFS accounting treatment loss impact on revenues(2)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup revenues, excluding notable item(s) impact(*)
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
Total Citigroup net interest income (NII)-as reported
$
10,506
$
10,478
$
10,691
$
10,819
$
10,871
$
11,964
$
12,563
$
13,270
$
13,348
$
13,900
$
13,828
$
13,824
Markets NII(3)
1,536
1,589
1,476
1,471
1,276
1,540
1,305
1,486
1,456
1,911
1,595
1,889
Citigroup NII ex-Markets(*)
$
8,970
$
8,889
$
9,215
$
9,348
$
9,595
$
10,424
$
11,258
$
11,784
$
11,892
$
11,989
$
12,233
$
11,935
Total Citigroup non-interest revenue (NIR)-as reported
$
9,097
$
7,202
$
6,674
$
6,107
$
8,229
$
7,595
$
5,858
$
4,632
$
8,016
$
5,424
$
6,198
$
3,528
Markets NIR(3)
4,610
3,069
3,208
2,149
4,963
3,929
3,113
2,789
4,334
2,989
3,151
1,563
Citigroup NIR ex-Markets(*)
$
4,487
$
4,133
$
3,466
$
3,958
$
3,266
$
3,666
$
2,745
$
1,843
$
3,682
$
2,435
$
3,047
$
1,965
Less:
Notable item-Russia HFS accounting treatment loss impact on revenues(4)
-
-
-
-
-
-
-
-
-
-
-
-
Citigroup NIR Ex-Markets, excluding notable item(s) impact(*)
$
4,487
$
4,133
$
3,466
$
3,958
$
3,266
$
3,666
$
2,745
$
1,843
$
3,682
$
2,435
$
3,047
$
1,965
Total Citigroup operating expenses
Total Citigroup operating expenses-as reported
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Less:
Notable item-Mexico goodwill impairment charge impact on operating expenses(5)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup operating expenses, excluding notable item(s)(*)
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Total Citigroup revenues-as reported
19,603
17,680
17,365
16,926
19,100
19,559
18,421
17,902
21,364
19,324
20,026
17,352
Total Citigroup operating expenses-as reported
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Total Citigroup efficiency ratio-as reported
57.9%
64.5%
67.3%
79.4%
68.5%
63.0%
68.7%
72.0%
61.8%
69.6%
66.9%
91.7%
Less:
Notable item(s) impact(s) on revenues(2)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup revenues, excluding notable Item(s)(*)
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
Less:
Notable item(s) impact(s) on operating expenses(5)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup operating expenses, excluding notable item(s)(*)
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Total Citigroup efficiency ratio, excluding notable item(s)(*)
57.9%
64.5%
67.3%
79.4%
68.5%
63.0%
68.7%
72.0%
61.8%
69.6%
66.9%
91.7%
*
Represents a non-GAAP financial measure.
(1)
See footnote 2 on page 14 for details.
(2)
See footnote 4 on page 12 for details.
(3)
See page 6 for details.
(4)
See footnote 4 on page 12 for details. The amount on this line adds the $19 million impact for Markets because it is already deducted in the Citigroup ex-Markets NIR number above.
(5)
See footnote 5 on page 14 for details.
Note: See “All Other-Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 25
Reconciliation of Adjusted Results (Page 1)
(In millions of dollars, except per share amounts and as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Total Citigroup revenues, net interest income (NII) and non-interest revenues (NIR)
Total Citigroup revenues-as reported
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
19,871
$
71,574
$
74,982
$
78,066
$
80,722
$
85,225
Less:
Total Divestiture-related Impacts on Revenues(1)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total Citigroup revenues, excluding divestitures impacts(*)
$
21,028
$
19,999
$
20,208
$
19,461
$
21,596
$
21,845
$
22,088
$
19,872
$
72,244
$
74,128
$
76,720
$
80,696
$
85,401
Total Citigroup revenues-as reported
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
19,871
$
71,574
$
74,982
$
78,066
$
80,722
$
85,225
Less:
Notable Item-Russia HFS accounting treatment loss impact on revenues(2)
-
-
-
-
-
-
-
(1,173)
-
-
-
-
(1,173)
Total Citigroup revenues, excluding notable item(s) impact(*)
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
21,044
$
71,574
$
74,982
$
78,066
$
80,722
$
86,398
Total Citigroup net interest income (NII)-as reported
$
13,507
$
13,493
$
13,362
$
13,733
$
14,012
$
15,175
$
14,940
$
15,665
$
42,494
$
48,668
$
54,900
$
54,095
$
59,792
Markets NII(3)
1,617
1,954
1,308
1,765
1,924
2,824
2,178
2,761
6,072
5,607
6,851
6,644
9,687
Citigroup NII ex-Markets(*)
$
11,890
$
11,539
$
12,054
$
11,968
$
12,088
$
12,351
$
12,762
$
12,904
$
36,422
$
43,061
$
48,049
$
47,451
$
50,105
Total Citigroup non-interest revenue (NIR)-as reported
$
7,509
$
6,539
$
6,847
$
5,732
$
7,584
$
6,493
$
7,150
$
4,206
$
29,080
$
26,314
$
23,166
$
26,627
$
25,433
Markets NIR(3)
3,788
3,170
3,602
2,847
4,151
3,156
3,567
1,848
13,036
14,794
12,037
13,407
12,722
Citigroup NIR ex-Markets(*)
$
3,721
$
3,369
$
3,245
$
2,885
$
3,433
$
3,337
$
3,583
$
2,358
$
16,044
$
11,520
$
11,129
$
13,220
$
12,711
Less:
Notable item-Russia HFS accounting treatment loss impact on revenues(4)
-
-
-
-
-
-
-
(1,192)
-
-
-
-
(1,192)
Citigroup NIR Ex-Markets, excluding notable item(s) impact(*)
$
3,721
$
3,369
$
3,245
$
2,885
$
3,433
$
3,337
$
3,583
$
3,550
$
16,044
$
11,520
$
11,129
$
13,220
$
13,903
Total Citigroup operating expenses
Total Citigroup operating expenses-as reported
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
14,290
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
55,132
Less:
Notable item-Mexico goodwill impairment charge impact on operating expenses(5)
-
-
-
-
-
-
726
-
-
-
-
-
726
Total Citigroup operating expenses, excluding notable item(s)(*)
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
13,564
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
54,406
Total Citigroup revenues-as reported
21,016
20,032
20,209
19,465
21,596
21,668
22,090
19,871
71,574
74,982
78,066
80,722
85,225
Total Citigroup operating expenses-as reported
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
14,290
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
55,132
Total Citigroup efficiency ratio-as reported
67.1%
66.1%
65.0%
67.1%
62.2%
62.7%
64.7%
69.6%
66.9%
67.9%
71.7%
66.4%
64.7%
Less:
Notable item(s) impact(s) on revenues(2)
-
-
-
-
-
-
-
(1,173)
-
-
-
-
(1,173)
Total Citigroup revenues, excluding notable Item(s)(*)
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
21,044
$
71,574
$
74,982
$
78,066
$
80,722
$
86,398
Less:
Notable item(s) impact(s) on operating expenses(5)
-
-
-
-
-
-
726
-
-
-
-
-
726
Total Citigroup operating expenses, excluding notable item(s)(*)
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
13,564
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
54,406
Total Citigroup efficiency ratio, excluding notable item(s)(*)
67.1%
66.1%
65.0%
67.1%
62.2%
62.7%
61.4%
65.8%
66.9%
67.9%
71.7%
66.4%
63.0%
*
Represents a non-GAAP financial measure.
(1)
See footnote 2 on page 14 for details.
(2)
See footnote 4 on page 12 for details.
(3)
See page 6 for details.
(4)
See footnote 4 on page 12 for details. The amount on this line adds the $19 million impact for Markets because it is already deducted in the Citigroup ex-Markets NIR number above.
(5)
See footnote 5 on page 14 for details.
Note: See “All Other-Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 25
Reconciliation of Adjusted Results (Page 2)
(In millions of dollars, except per share amounts and as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Total Citigroup Operating Expenses
Total Citigroup other operating expenses(1)—as reported
$
2,486
$
2,514
$
2,652
$
3,231
$
3,257
$
2,756
$
2,823
$
2,959
$
2,607
$
2,769
$
2,744
$
4,751
Less:
Notable item—Mexico goodwill impairment charge impact on other operating expenses(2)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup other operating expenses, excluding notable item(s)(*)
$
2,486
$
2,514
$
2,652
$
3,231
$
3,257
$
2,756
$
2,823
$
2,959
$
2,607
$
2,769
$
2,744
$
4,751
Notable Items adjustments
Total Citigroup net income—as reported
$
7,942
$
6,193
$
4,644
$
3,173
$
4,306
$
4,547
$
3,479
$
2,513
$
4,606
$
2,915
$
3,546
$
(1,839)
Less notable items:
Russia HFS accounting treatment loss impact on net income(3)
-
-
-
-
-
-
-
-
-
-
-
-
Mexico goodwill impairment charge impact on net income(2)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup net income, excluding notable Item(s)(*)
$
7,942
$
6,193
$
4,644
$
3,173
$
4,306
$
4,547
$
3,479
$
2,513
$
4,606
$
2,915
$
3,546
$
(1,839)
Total Citigroup diluted EPS—as reported
$
3.62
$
2.85
$
2.15
$
1.46
$
2.02
$
2.19
$
1.63
$
1.16
$
2.19
$
1.33
$
1.63
$
(1.16)
Less:
Notable item(s)(2)(3)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup diluted EPS, excluding notable item(s)(*)
$
3.62
$
2.85
$
2.15
$
1.46
$
2.02
$
2.19
$
1.63
$
1.16
$
2.19
$
1.33
$
1.63
$
(1.16)
Total Citigroup diluted EPS—as reported
$
3.62
$
2.85
$
2.15
$
1.46
$
2.02
$
2.19
$
1.63
$
1.16
$
2.19
$
1.33
$
1.63
$
(1.16)
Less:
Notable item—Russia HFS accounting treatment loss impact on net income(3)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup diluted EPS, excluding notable item(*)
$
3.62
$
2.85
$
2.15
$
1.46
$
2.02
$
2.19
$
1.63
$
1.16
$
2.19
$
1.33
$
1.63
$
(1.16)
Total Citigroup RoCE—as reported
17.2%
13.0%
9.5%
6.4%
9.0%
9.7%
7.1%
5.0%
9.5%
5.6%
6.7%
(4.5%)
Less:
Notable item(s)(2)(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
Total Citigroup RoCE, excluding notable items(*)
17.2%
13.0%
9.5%
6.4%
9.0%
9.7%
7.1%
5.0%
9.5%
5.6%
6.7%
(4.5%)
Total Citigroup RoTCE—as reported
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
(5.1%)
Less:
Notable item(s)(2)(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
Total Citigroup RoTCE, excluding notable items(*)
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
(5.1%)
All Other (Managed Basis)(4)(*)
All Other revenues—managed basis(*)
$
2,396
$
2,399
$
2,363
$
2,333
$
2,089
$
2,241
$
2,147
$
2,364
$
2,662
$
2,473
$
2,303
$
1,951
Add:
Total divestiture-related impacts on revenues(5)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
All Other revenues—U.S. GAAP
$
2,396
$
2,399
$
1,706
$
2,320
$
2,042
$
2,319
$
2,761
$
2,573
$
3,680
$
2,467
$
2,699
$
1,889
All Other operating expenses—Managed Basis(*)
$
2,466
$
2,342
$
2,454
$
2,366
$
2,274
$
2,261
$
2,320
$
2,349
$
2,291
$
2,259
$
2,183
$
4,468
Add:
Total divestiture-related impacts on operating expenses(6)
-
-
-
1,171
559
(28)
107
58
73
79
114
106
All Other operating expenses—U.S. GAAP
$
2,466
$
2,342
$
2,454
$
3,537
$
2,833
$
2,233
$
2,427
$
2,407
$
2,364
$
2,338
$
2,297
$
4,574
All Other provisions for credit losses—Managed Basis(*)
$
130
$
(220)
$
(44)
$
109
$
74
$
64
$
182
$
160
$
445
$
200
$
199
$
460
Add:
Total divestiture-related impacts on provisions for credit losses
-
-
23
1
71
58
(12)
(41)
(8)
(12)
(17)
(30)
All Other provisions for credit losses—U.S. GAAP
$
130
$
(220)
$
(21)
$
110
$
145
$
122
$
170
$
119
$
437
$
188
$
182
$
430
All Other EBIT—Managed Basis(*)
$
(200)
$
277
$
(47)
$
(142)
$
(259)
$
(84)
$
(355)
$
(145)
$
(74)
$
14
$
(79)
$
(2,977)
Add:
Total divestiture-related impacts on revenues(5)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total divestiture-related impacts on operating expenses(6)
-
-
-
(1,171)
(559)
28
(107)
(58)
(73)
(79)
(114)
(106)
Total divestiture-related impacts on provisions for credit losses
-
-
(23)
(1)
(71)
(58)
12
41
8
12
17
30
All Other EBIT—U.S. GAAP
$
(200)
$
277
$
(727)
$
(1,327)
$
(936)
$
(36)
$
164
$
47
$
879
$
(59)
$
220
$
(3,115)
Page 26
*
Represents a non-GAAP financial measure.
(1)
Other operating expenses include the following expense line items: Premises and equipment, Professional services, Advertising and marketing, and Other operating expenses.
(2)
See footnote 5 on page 14 for details.
(3)
See footnote 4 on page 12 for details.
(4)
Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi’s divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.
(5)
See footnote 2 on page 14 for details.
(6)
See footnotes 2, 3, 4, 5, and 6 on page 14 for details.
Note: See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 26
Reconciliation of Adjusted Results (Page 2)
(In millions of dollars, except per share amounts and as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Total Citigroup Operating Expenses
Total Citigroup other operating expenses(1)—as reported
$
2,852
$
2,962
$
2,701
$
2,778
$
2,483
$
2,472
$
3,386
$
3,168
$
10,883
$
11,795
$
12,871
$
11,293
$
11,509
Less:
Notable item—Mexico goodwill impairment charge impact on other operating expenses(2)
-
-
-
-
-
-
726
-
-
-
-
-
726
Total Citigroup other operating expenses, excluding notable item(s)(*)
$
2,852
$
2,962
$
2,701
$
2,778
$
2,483
$
2,472
$
2,660
$
3,168
$
10,883
$
11,795
$
12,871
$
11,293
$
10,783
Notable Items adjustments
Total Citigroup net income—as reported
$
3,371
$
3,217
$
3,238
$
2,856
$
4,064
$
4,019
$
3,752
$
2,471
$
21,952
$
14,845
$
9,228
$
12,682
$
14,306
Less notable items:
Russia HFS accounting treatment loss impact on net income(3)
-
-
-
-
-
-
-
(1,123)
-
-
-
-
(1,123)
Mexico goodwill impairment charge impact on net income(2)
-
-
-
-
-
-
(714)
-
-
-
-
-
(714)
Total Citigroup net income, excluding notable Item(s)(*)
$
3,371
$
3,217
$
3,238
$
2,856
$
4,064
$
4,019
$
4,466
$
3,594
$
21,952
$
14,845
$
9,228
$
12,682
$
16,143
Total Citigroup diluted EPS—as reported
$
1.58
$
1.52
$
1.51
$
1.34
$
1.96
$
1.96
$
1.86
$
1.19
$
10.14
$
7.00
$
4.04
$
5.94
$
6.99
Less:
Notable item(s)(2)(3)
-
-
-
-
-
-
(0.38)
(0.62)
-
-
-
-
(0.98)
Total Citigroup diluted EPS, excluding notable item(s)(*)
$
1.58
$
1.52
$
1.51
$
1.34
$
1.96
$
1.96
$
2.24
$
1.81
$
10.14
$
7.00
$
4.04
$
5.94
$
7.97
Total Citigroup diluted EPS—as reported
$
1.58
$
1.52
$
1.51
$
1.34
$
1.96
$
1.96
$
1.86
$
1.19
$
10.14
$
7.00
$
4.04
$
5.94
$
6.99
Less:
Notable item—Russia HFS accounting treatment loss impact on net income(3)
-
-
-
-
-
-
-
(0.62)
-
-
-
-
(0.60)
Total Citigroup diluted EPS, excluding notable item(*)
$
1.58
$
1.52
$
1.51
$
1.34
$
1.96
$
1.96
$
1.86
$
1.81
$
10.14
$
7.00
$
4.04
$
5.94
$
7.59
Total Citigroup RoCE—as reported
6.6%
6.3%
6.2%
5.4%
8.0%
7.7%
7.1%
4.5%
11.5%
7.7%
4.3%
6.1%
6.8%
Less:
Notable item(s)(2)(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
(140) bps
(230) bps
0 bps
0 bps
0 bps
0 bps
(90) bps
Total Citigroup RoCE, excluding notable items(*)
6.6%
6.3%
6.2%
5.4%
8.0%
7.7%
8.5%
6.8%
11.5%
7.7%
4.3%
6.1%
7.7%
Total Citigroup RoTCE—as reported
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
8.0%
5.1%
13.4%
8.9%
4.9%
7.0%
7.7%
Less:
Notable item(s)(2)(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
(170) bps
(260) bps
0 bps
0 bps
0 bps
0 bps
(110) bps
Total Citigroup RoTCE, excluding notable items(*)
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
9.7%
7.7%
13.4%
8.9%
4.9%
7.0%
8.8%
All Other (Managed Basis)(4)(*)
All Other revenues—managed basis(*)
$
2,430
$
2,018
$
1,796
$
1,277
$
1,463
$
1,716
$
1,471
$
(208)
$
9,491
$
8,841
$
9,389
$
7,521
$
4,442
Add:
Total divestiture-related impacts on revenues(5)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
All Other revenues—U.S. GAAP
$
2,418
$
2,051
$
1,797
$
1,281
$
1,463
$
1,539
$
1,473
$
(209)
$
8,821
$
9,695
$
10,735
$
7,547
$
4,266
All Other operating expenses—Managed Basis(*)
$
2,687
$
2,108
$
2,078
$
2,163
$
2,226
$
2,277
$
2,169
$
2,026
$
9,628
$
9,204
$
11,201
$
9,036
$
8,698
Add:
Total divestiture-related impacts on operating expenses(6)
110
85
67
56
34
37
766
40
1,171
696
372
318
877
All Other operating expenses—U.S. GAAP
$
2,797
$
2,193
$
2,145
$
2,219
$
2,260
$
2,314
$
2,935
$
2,066
$
10,799
$
9,900
$
11,573
$
9,354
$
9,575
All Other provisions for credit losses—Managed Basis(*)
$
186
$
243
$
289
$
397
$
359
$
374
$
331
$
449
$
(25)
$
480
$
1,304
$
1,115
$
1,513
Add:
Total divestiture-related impacts on provisions for credit losses
11
(3)
(1)
-
(11)
5
(3)
(1)
24
76
(67)
7
(10)
All Other provisions for credit losses—U.S. GAAP
$
197
$
240
$
288
$
397
$
348
$
379
$
328
$
448
$
(1)
$
556
$
1,237
$
1,122
$
1,503
All Other EBIT—Managed Basis(*)
$
(443)
$
(333)
$
(571)
$
(1,283)
$
(1,122)
$
(935)
$
(1,029)
$
(2,683)
$
(112)
$
(843)
$
(3,116)
$
(2,630)
$
(5,769)
Add:
Total divestiture-related impacts on revenues(5)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total divestiture-related impacts on operating expenses(6)
(110)
(85)
(67)
(56)
(34)
(37)
(766)
(40)
(1,171)
(696)
(372)
(318)
(877)
Total divestiture-related impacts on provisions for credit losses
(11)
3
1
-
11
(5)
3
1
(24)
(76)
67
(7)
10
All Other EBIT—U.S. GAAP
$
(576)
$
(382)
$
(636)
$
(1,335)
$
(1,145)
$
(1,154)
$
(1,790)
$
(2,723)
$
(1,977)
$
(761)
$
(2,075)
$
(2,929)
$
(6,812)
Page 26
*
Represents a non-GAAP financial measure.
(1)
Other operating expenses include the following expense line items: Premises and equipment, Professional services, Advertising and marketing, and Other operating expenses.
(2)
See footnote 5 on page 14 for details.
(3)
See footnote 4 on page 12 for details.
(4)
Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.
(5)
See footnote 2 on page 14 for details.
(6)
See footnotes 2, 3, 4, 5, and 6 on page 14 for details.
Note: See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 26
Reconciliation of Adjusted Results (Page 3)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
All Other (Managed Basis)(1)(*)
All Other net income (loss)—managed basis
$
(166)
$
717
$
118
$
121
$
142
$
(87)
$
(20)
$
6
$
209
$
39
$
(47)
$
(2,355)
Add:
Total divestiture-related impacts on revenue(2)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total divestiture-related impacts on operating expenses(3)
-
-
-
(1,171)
(559)
28
(107)
(58)
(73)
(79)
(114)
(106)
Total divestiture-related impacts on provisions for credit losses
-
-
(23)
(1)
(71)
(58)
12
41
8
12
17
30
Total divestiture-related impacts on income taxes
-
-
100
123
89
(13)
(263)
(79)
(305)
(19)
(85)
27
All Other net income (loss)—U.S. GAAP
$
(166)
$
717
$
(462)
$
(941)
$
(446)
$
(52)
$
236
$
119
$
857
$
(53)
$
167
$
(2,466)
Legacy Franchises (LF) (Managed Basis)(1)(*)
Legacy Franchises revenues (managed basis)—as reported
$
2,172
$
2,214
$
2,173
$
2,159
$
1,940
$
1,832
$
1,935
$
1,849
$
1,823
$
1,914
$
1,831
$
1,714
Less:
Notable item—portion of Russia HFS accounting treatment loss impact on LF revenues(4)
-
-
-
-
-
-
-
-
-
-
-
-
LF revenues, excluding notable item(s) impact(*)
$
2,172
$
2,214
$
2,173
$
2,159
$
1,940
$
1,832
$
1,935
$
1,849
$
1,823
$
1,914
$
1,831
$
1,714
LF revenues—Managed Basis(*)
$
2,172
$
2,214
$
2,173
$
2,159
$
1,940
$
1,832
$
1,935
$
1,849
$
1,823
$
1,914
$
1,831
$
1,714
Add:
Total divestiture-related impacts on revenues(2)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
LF revenues—U.S. GAAP
$
2,172
$
2,214
$
1,516
$
2,146
$
1,893
$
1,910
$
2,549
$
2,058
$
2,841
$
1,908
$
2,227
$
1,652
LF operating expenses—managed basis(*)
$
1,893
$
1,820
$
1,785
$
1,832
$
1,718
$
1,811
$
1,750
$
1,772
$
1,696
$
1,715
$
1,682
$
1,625
Add:
Total divestiture-related impacts on operating expenses(3)
-
-
-
1,171
559
(28)
107
58
73
79
114
106
LF operating expenses—U.S. GAAP
$
1,893
$
1,820
$
1,785
$
3,003
$
2,277
$
1,783
$
1,857
$
1,830
$
1,769
$
1,794
$
1,796
$
1,731
LF provisions for credit losses—managed basis(*)
$
130
$
(221)
$
(44)
$
111
$
73
$
61
$
179
$
161
$
333
$
311
$
200
$
471
Add:
Total divestiture-related impacts on provisions for credit losses
-
-
23
1
71
58
(12)
(41)
(8)
(12)
(17)
(30)
LF provisions for credit losses—U.S. GAAP
$
130
$
(221)
$
(21)
$
112
$
144
$
119
$
167
$
120
$
325
$
299
$
183
$
441
LF EBIT—managed basis(*)
$
149
$
615
$
432
$
216
$
149
$
(40)
$
6
$
(84)
$
(206)
$
(112)
$
(51)
$
(382)
Add:
Total divestiture-related impacts on revenue(2)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total divestiture-related impacts on operating expenses(3)
-
-
-
(1,171)
(559)
28
(107)
(58)
(73)
(79)
(114)
(106)
Total divestiture-related impacts on provisions for credit losses
-
-
(23)
(1)
(71)
(58)
12
41
8
12
17
30
LF EBIT—U.S. GAAP
$
149
$
615
$
(248)
$
(969)
$
(528)
$
8
$
525
$
108
$
747
$
(185)
$
248
$
(520)
LF net income (loss)—managed basis(*)
$
97
$
435
$
344
$
390
$
201
$
(43)
$
50
$
(28)
$
(46)
$
(50)
$
(75)
$
(269)
Add:
Total divestiture-related impacts on revenue(2)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Total divestiture-related impacts on operating expenses(3)
-
-
-
(1,171)
(559)
28
(107)
(58)
(73)
(79)
(114)
(106)
Total divestiture-related impacts on provisions for credit losses
-
-
(23)
(1)
(71)
(58)
12
41
8
12
17
30
Total divestiture-related impacts on income taxes
-
-
100
123
89
(13)
(263)
(79)
(305)
(19)
(85)
27
LF net income (loss)—U.S. GAAP
$
97
$
435
$
(236)
$
(672)
$
(387)
$
(8)
$
306
$
85
$
602
$
(142)
$
139
$
(380)
*
Represents a non-GAAP financial measure.
(1)
Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.
(2)
See footnote 2 on page 14 for details.
(3)
See footnotes 2, 3, 4, 5, and 6 on page 14 for details.
(4)
See footnote 4 on page 12 for details.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 27
Reconciliation of Adjusted Results (Page 3)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
All Other (Managed Basis)(1)(*)
All Other net income (loss)—managed basis
$
(440)
$
(369)
$
(504)
$
(1,115)
$
(856)
$
(552)
$
(756)
$
(2,290)
$
790
$
41
$
(2,154)
$
(2,428)
$
(4,454)
Add:
Total divestiture-related impacts on revenue(2)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total divestiture-related impacts on operating expenses(3)
(110)
(85)
(67)
(56)
(34)
(37)
(766)
(40)
(1,171)
(696)
(372)
(318)
(877)
Total divestiture-related impacts on provisions for credit losses
(11)
3
1
-
11
(5)
3
1
(24)
(76)
67
(7)
10
Total divestiture-related impacts on income taxes
39
17
20
16
8
39
(16)
(70)
223
(266)
(382)
92
(39)
All Other net income (loss)—U.S. GAAP
$
(534)
$
(401)
$
(549)
$
(1,151)
$
(871)
$
(732)
$
(1,533)
$
(2,400)
$
(852)
$
(143)
$
(1,495)
$
(2,635)
$
(5,536)
Legacy Franchises (LF) (Managed Basis)(1)(*)
Legacy Franchises revenues (managed basis)—as reported
$
1,819
$
1,719
$
1,734
$
1,563
$
1,621
$
1,691
$
1,871
$
329
$
8,718
$
7,556
$
7,282
$
6,835
$
5,512
Less:
Notable item—portion of Russia HFS accounting treatment loss impact on LF revenues(4)
-
-
-
-
-
-
-
(1,556)
-
-
-
-
(1,556)
LF revenues, excluding notable item(s) impact(*)
$
1,819
$
1,719
$
1,734
$
1,563
$
1,621
$
1,691
$
1,871
$
1,885
$
8,718
$
7,556
$
7,282
$
6,835
$
7,068
LF revenues—Managed Basis(*)
$
1,819
$
1,719
$
1,734
$
1,563
$
1,621
$
1,691
$
1,871
$
329
$
8,718
$
7,556
$
7,282
$
6,835
$
5,512
Add:
Total divestiture-related impacts on revenues(2)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
LF revenues—U.S. GAAP
$
1,807
$
1,752
$
1,735
$
1,567
$
1,621
$
1,514
$
1,873
$
328
$
8,048
$
8,410
$
8,628
$
6,861
$
5,336
LF operating expenses—managed basis(*)
$
1,605
$
1,550
$
1,475
$
1,381
$
1,334
$
1,287
$
1,320
$
1,222
$
7,330
$
7,051
$
6,718
$
6,011
$
5,163
Add:
Total divestiture-related impacts on operating expenses(3)
110
85
67
56
34
37
766
40
1,171
696
372
318
877
LF operating expenses—U.S. GAAP
$
1,715
$
1,635
$
1,542
$
1,437
$
1,368
$
1,324
$
2,086
$
1,262
$
8,501
$
7,747
$
7,090
$
6,329
$
6,040
LF provisions for credit losses—managed basis(*)
$
188
$
238
$
291
$
393
$
358
$
371
$
327
$
447
$
(24)
$
474
$
1,315
$
1,110
$
1,503
Add:
Total divestiture-related impacts on provisions for credit losses
11
(3)
(1)
-
(11)
5
(3)
(1)
24
76
(67)
7
(10)
LF provisions for credit losses—U.S. GAAP
$
199
$
235
$
290
$
393
$
347
$
376
$
324
$
446
$
-
$
550
$
1,248
$
1,117
$
1,493
LF EBIT—managed basis(*)
$
26
$
(69)
$
(32)
$
(211)
$
(71)
$
33
$
224
$
(1,340)
$
1,412
$
31
$
(751)
$
(286)
$
(1,154)
Add:
Total divestiture-related impacts on revenue(2)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total divestiture-related impacts on operating expenses(3)
(110)
(85)
(67)
(56)
(34)
(37)
(766)
(40)
(1,171)
(696)
(372)
(318)
(877)
Total divestiture-related impacts on provisions for credit losses
(11)
3
1
-
11
(5)
3
1
(24)
(76)
67
(7)
10
LF EBIT—U.S. GAAP
$
(107)
$
(118)
$
(97)
$
(263)
$
(94)
$
(186)
$
(537)
$
(1,380)
$
(453)
$
113
$
290
$
(585)
$
(2,197)
LF net income (loss)—managed basis(*)
$
1
$
(58)
$
(31)
$
(161)
$
(60)
$
60
$
155
$
(1,496)
$
1,266
$
180
$
(440)
$
(249)
$
(1,341)
Add:
Total divestiture-related impacts on revenue(2)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Total divestiture-related impacts on operating expenses(3)
(110)
(85)
(67)
(56)
(34)
(37)
(766)
(40)
(1,171)
(696)
(372)
(318)
(877)
Total divestiture-related impacts on provisions for credit losses
(11)
3
1
-
11
(5)
3
1
(24)
(76)
67
(7)
10
Total divestiture-related impacts on income taxes
39
17
20
16
8
39
(16)
(70)
223
(266)
(382)
92
(39)
LF net income (loss)—U.S. GAAP
$
(93)
$
(90)
$
(76)
$
(197)
$
(75)
$
(120)
$
(622)
$
(1,606)
$
(376)
$
(4)
$
219
$
(456)
$
(2,423)
*
Represents a non-GAAP financial measure.
(1)
Reflects results on a managed basis, which excludes divestiture-related impacts related to Citi's divestitures of its Asia consumer banking businesses and the planned divestiture of Mexico Consumer/SBMM within Legacy Franchises. See page 14 for additional information.
(2)
See footnote 2 on page 14 for details.
(3)
See footnotes 2, 3, 4, 5, and 6 on page 14 for details.
(4)
See footnote 4 on page 12 for details.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 27
Reconciliation of Adjusted Results (Page 4)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Services
Services revenues—as reported
$
3,001
$
3,137
$
3,134
$
3,267
$
3,468
$
4,071
$
4,203
$
4,390
$
4,572
$
4,712
$
4,792
$
4,561
Less:
Notable item—portion of Russia HFS accounting treatment impact on services revenues(1)
-
-
-
-
-
-
-
-
-
-
-
-
Services revenues, excluding notable item(s) impact(*)
$
3,001
$
3,137
$
3,134
$
3,267
$
3,468
$
4,071
$
4,203
$
4,390
$
4,572
$
4,712
$
4,792
$
4,561
Services non-interest revenue (NIR)—as reported
$
1,326
$
1,430
$
1,445
$
1,472
$
1,433
$
1,586
$
1,409
$
1,339
$
1,446
$
1,469
$
1,352
$
1,119
Less:
Notable item—portion of Russia HFS accounting treatment impact on services revenues(1)
-
-
-
-
-
-
-
-
-
-
-
-
Services NIR, excluding notable item(s) impact(*)
$
1,326
$
1,430
$
1,445
$
1,472
$
1,433
$
1,586
$
1,409
$
1,339
$
1,446
$
1,469
$
1,352
$
1,119
Banking—Corporate Lending revenues
Banking—Corporate Lending revenues—as reported
$
414
$
421
$
435
$
473
$
594
$
998
$
324
$
18
$
162
$
325
$
340
$
250
Gain (loss) on loan hedges(2)
(78)
(37)
(46)
21
169
494
(56)
(300)
(199)
(66)
(47)
(131)
Banking—Corp Lending revenues—excluding gain (loss) on loan hedges(*)
$
492
$
458
$
481
$
452
$
425
$
504
$
380
$
318
$
361
$
391
$
387
$
381
*
Represents a non-GAAP financial measure.
(1)
See footnote 4 on page 12 for details.
(2)
See page 7 for details.
Page 28
Reconciliation of Adjusted Results (Page 4)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Services
Services revenues—as reported
$
5,043
$
4,914
$
5,207
$
5,104
$
5,204
$
5,430
$
5,730
$
6,272
$
12,539
$
16,132
$
18,637
$
20,268
$
22,636
Less:
Notable item—portion of Russia HFS accounting treatment impact on services revenues(1)
-
-
-
-
-
-
-
356
-
-
-
-
356
Services revenues, excluding notable item(s) impact(*)
$
5,043
$
4,914
$
5,207
$
5,104
$
5,204
$
5,430
$
5,730
$
5,916
$
12,539
$
16,132
$
18,637
$
20,268
$
22,280
Services non-interest revenue (NIR)—as reported
$
1,726
$
1,689
$
1,772
$
1,658
$
1,706
$
1,800
$
1,907
$
2,222
$
5,673
$
5,767
$
5,386
$
6,845
$
7,635
Less:
Notable item—portion of Russia HFS accounting treatment impact on services revenues(1)
-
-
-
-
-
-
-
356
-
-
-
-
356
Services NIR, excluding notable item(s) impact(*)
$
1,726
$
1,689
$
1,772
$
1,658
$
1,706
$
1,800
$
1,907
$
1,866
$
5,673
$
5,767
$
5,386
$
6,845
$
7,279
Banking—Corporate Lending revenues
Banking—Corporate Lending revenues—as reported
$
362
$
395
$
357
$
414
$
416
$
361
$
409
$
417
$
1,743
$
1,934
$
1,077
$
1,528
$
1,603
Gain (loss) on loan hedges(2)
(104)
9
(79)
(6)
14
(62)
(44)
(26)
(140)
307
(443)
(180)
(118)
Banking—Corp Lending revenues—excluding gain (loss) on loan hedges(*)
$
466
$
386
$
436
$
420
$
402
$
423
$
453
$
443
$
1,883
$
1,627
$
1,520
$
1,708
$
1,721
*
Represents a non-GAAP financial measure.
(1)
See footnote 4 on page 12 for details.
(2)
See page 7 for details.
Page 28
Reconciliation of Adjusted Results (Page 5)
(In millions of dollars, or as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Total Citigroup revenues
Total Citigroup revenues—as reported
$
19,603
$
17,680
$
17,365
$
16,926
$
19,100
$
19,559
$
18,421
$
17,902
$
21,364
$
19,324
$
20,026
$
17,352
Less:
Total divestiture-related impacts on revenues(2)
-
-
(657)
(13)
(47)
78
614
209
1,018
(6)
396
(62)
Notable item -Russia HFS accounting treatment loss impact on revenues(3)
-
-
-
-
-
-
-
-
-
-
-
-
Total Citigroup revenues, excluding divestitures impacts and Russia loss(*)
$
19,603
$
17,680
$
18,022
$
16,939
$
19,147
$
19,481
$
17,807
$
17,693
$
20,346
$
19,330
$
19,630
$
17,414
Total Citigroup operating expenses
Total Citigroup operating expenses—as reported
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Less:
Total divestiture-related impacts on expenses(4)
-
-
-
1,171
559
(28)
107
58
73
79
114
106
FDIC special assessment(5)
-
-
-
-
-
-
-
-
-
-
-
1,706
Total Citigroup operating expenses, excluding divestitures impacts and FDIC special assessment(5)(*)
$
11,349
$
11,398
$
11,695
$
12,270
$
12,520
$
12,342
$
12,555
$
12,823
$
13,133
$
13,379
$
13,284
$
14,096
Total Citigroup operating expenses—as reported
$
11,349
$
11,398
$
11,695
$
13,441
$
13,079
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Less:
Goodwill impairment(6)
-
-
-
-
535
-
-
-
-
-
-
-
Total Citigroup operating expenses, excluding goodwill impairment(*)
$
11,349
$
11,398
$
11,695
$
13,441
$
12,544
$
12,314
$
12,662
$
12,881
$
13,206
$
13,458
$
13,398
$
15,908
Total Citigroup RoCE and RoTCE
Total Citigroup RoCE—as reported
17.2%
13.0%
9.5%
6.4%
9.0%
9.7%
7.1%
5.0%
9.5%
5.6%
6.7%
(4.5%)
Less:
Notable item -Russia HFS accounting treatment loss impact on net income(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
Total Citigroup RoCE, excluding notable item(*)
17.2%
13.0%
9.5%
6.4%
9.0%
9.7%
7.1%
5.0%
9.5%
5.6%
6.7%
(4.5%)
Total Citigroup RoTCE—as reported
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
(5.1%)
Less:
Notable item -Russia HFS accounting treatment loss impact on net income(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
Total Citigroup RoTCE, excluding notable item(*)
20.1%
15.2%
11.0%
7.4%
10.5%
11.2%
8.2%
5.8%
10.9%
6.4%
7.7%
(5.1%)
*
Represents a non-GAAP financial measure.
(1)
Not used.
(2)
See footnote 2 on page 14, Citi's 2024 Annual Report on Form 10-K, and Citi's 2023 Annual Report on Form 10-K for details.
(3)
See footnote 4 on page 12 for details.
(4)
See footnotes 2, 3, 4, 5, and 6 on page 14, Citi's 2024 Annual Report on Form 10-K, and Citi's 2023 Annual Report on Form 10-K for details.
(5)
Federal Deposit Insurance Corporation (FDIC) Special Assessment. See Citi's 2024 Annual Report on Form 10-K and Citi's 2023 Annual Report on Form 10-K for details.
(6)
See footnote 5 on page 14 and Citi's 2024 Annual Report on Form 10-K for details.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 29
Reconciliation of Adjusted Results (Page 5)
(In millions of dollars, or as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Total Citigroup revenues
Total Citigroup revenues—as reported
$
21,016
$
20,032
$
20,209
$
19,465
$
21,596
$
21,668
$
22,090
$
19,871
$
71,574
$
74,982
$
78,066
$
80,722
$
85,225
Less:
Total divestiture-related impacts on revenues(2)
(12)
33
1
4
-
(177)
2
(1)
(670)
854
1,346
26
(176)
Notable item -Russia HFS accounting treatment loss impact on revenues(3)
-
-
-
-
-
-
-
(1,173)
-
-
-
-
(1,173)
Total Citigroup revenues, excluding divestitures impacts and Russia loss(*)
$
21,028
$
19,999
$
20,208
$
19,461
$
21,596
$
21,845
$
22,088
$
21,045
$
72,244
$
74,128
$
76,720
$
80,696
$
86,574
Total Citigroup operating expenses
Total Citigroup operating expenses—as reported
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
14,290
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
55,132
Less:
Total divestiture-related impacts on expenses(4)
110
85
67
56
34
37
766
40
1,171
696
372
318
877
FDIC special assessment(5)
251
34
(56)
(26)
20
(20)
(47)
(191)
-
-
1,706
203
(238)
Total Citigroup operating expenses, excluding divestitures impacts
and FDIC special assessment(5)(*)
$
13,746
$
13,127
$
13,133
$
13,040
$
13,371
$
13,560
$
13,571
$
13,991
$
46,712
$
50,240
$
53,892
$
53,046
$
54,493
Total Citigroup operating expenses—as reported
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
14,290
$
13,840
$
47,883
$
50,936
$
55,970
$
53,567
$
55,132
Less:
Goodwill impairment(6)
-
-
-
-
-
-
726
-
-
535
-
-
726
Total Citigroup operating expenses, excluding goodwill impairment(*)
$
14,107
$
13,246
$
13,144
$
13,070
$
13,425
$
13,577
$
13,564
$
13,840
$
47,883
$
50,401
$
55,970
$
53,567
$
54,406
Total Citigroup RoCE and RoTCE
Total Citigroup RoCE—as reported
6.6%
6.3%
6.2%
5.4%
8.0%
7.7%
7.1%
4.5%
11.5%
7.7%
4.3%
6.1%
6.8%
Less:
Notable item -Russia HFS accounting treatment loss impact on net income(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
(230) bps
0 bps
0 bps
0 bps
0 bps
(60) bps
Total Citigroup RoCE, excluding notable item(*)
6.6%
6.3%
6.2%
5.4%
8.0%
7.7%
7.1%
6.8%
11.5%
7.7%
4.3%
6.1%
7.4%
Total Citigroup RoTCE—as reported
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
8.0%
5.1%
13.4%
8.9%
4.9%
7.0%
7.7%
Less:
Notable item -Russia HFS accounting treatment loss impact on net income(3)
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
0 bps
(260) bps
0 bps
0 bps
0 bps
0 bps
(70) bps
Total Citigroup RoTCE, excluding notable item(*)
7.6%
7.2%
7.0%
6.1%
9.1%
8.7%
8.0%
7.7%
13.4%
8.9%
4.9%
7.0%
8.4%
*
Represents a non-GAAP financial measure.
(1)
Not used.
(2)
See footnote 2 on page 14, Citi's 2024 Annual Report on Form 10-K, and Citi's 2023 Annual Report on Form 10-K for details.
(3)
See footnote 4 on page 12 for details.
(4)
See footnotes 2, 3, 4, 5, and 6 on page 14, Citi's 2024 Annual Report on Form 10-K, and Citi's 2023 Annual Report on Form 10-K for details.
(5)
Federal Deposit Insurance Corporation (FDIC) Special Assessment. See Citi's 2024 Annual Report on Form 10-K and Citi's 2023 Annual Report on Form 10-K for details.
(6)
See footnote 5 on page 14 and Citi's 2024 Annual Report on Form 10-K for details.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and "Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 29
Reconciliation of Adjusted Results (Page 6)
(In millions of dollars, except as otherwise noted)
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
2021
2021
2021
2021
2022
2022
2022
2022
2023
2023
2023
2023
Legacy Franchises (LF) exits contribution(1)
Revenues
Closed or signed markets revenues—Ex-divestitures
$
737
$
727
$
692
$
687
$
648
$
643
$
612
$
439
$
397
$
382
$
212
$
184
Add:
Divestiture-related impacts on closed or signed markets revenues
-
-
(657)
(13)
(47)
78
614
209
1,067
(11)
397
(5)
Closed or signed markets revenues—U.S. GAAP
$
737
$
727
$
35
$
674
$
601
$
721
$
1,226
$
648
$
1,464
$
371
$
609
$
179
Mexico Consumer/SBMM Revenues—Ex-divestitures
$
1,110
$
1,152
$
1,139
$
1,138
$
1,111
$
1,161
$
1,146
$
1,219
$
1,289
$
1,406
$
1,519
$
1,454
Add:
Divestiture-related impacts on Mexico/SBMM
-
-
-
-
-
-
-
-
-
-
-
-
Mexico Consumer/SBMM revenues—U.S. GAAP
$
1,110
$
1,152
$
1,139
$
1,138
$
1,111
$
1,161
$
1,146
$
1,219
$
1,289
$
1,406
$
1,519
$
1,454
Wind-downs/sale/other revenues—Ex-divestitures
$
325
$
335
$
342
$
334
$
181
$
28
$
177
$
191
$
137
$
126
$
100
$
76
Add:
Divestiture-related impacts on wind-downs/sale/other revenues
-
-
-
-
-
-
-
-
(49)
5
(1)
(57)
Wind-downs/sale/other revenues—U.S. GAAP
$
325
$
335
$
342
$
334
$
181
$
28
$
177
$
191
$
88
$
131
$
99
$
19
Expenses
Closed or signed markets expenses—Ex-divestitures
$
611
$
627
$
611
$
658
$
646
$
684
$
605
$
548
$
501
$
463
$
426
$
350
Add:
Divestiture-related impacts on closed or signed markets expenses
-
-
-
-
-
-
107
31
45
21
48
37
Closed or signed markets expenses—U.S. GAAP
$
611
$
627
$
611
$
658
$
646
$
684
$
712
$
579
$
546
$
484
$
474
$
387
Mexico Consumer/SBMM expenses—Ex-divestitures
$
770
$
789
$
762
$
783
$
776
$
851
$
852
$
915
$
939
$
980
$
1,015
$
1,068
Add:
Divestiture-related impacts on Mexico/SBMM
-
-
-
-
-
-
-
25
25
48
60
62
Mexico Consumer/SBMM expenses—U.S. GAAP
$
770
$
789
$
762
$
783
$
776
$
851
$
852
$
940
$
964
$
1,028
$
1,075
$
1,130
Wind-downs/sale/other Expenses—Ex-divestitures
$
512
$
404
$
412
$
391
$
296
$
276
$
293
$
309
$
256
$
272
$
241
$
207
Add:
Divestiture-related impacts on wind-downs/sale/other expenses
-
-
-
1,171
559
(28)
-
2
3
10
6
7
Wind-downs/sale/other expenses—U.S. GAAP
$
512
$
404
$
412
$
1,562
$
855
$
248
$
293
$
311
$
259
$
282
$
247
$
214
(1) For this presentation, AO Citibank (Russia) has been classified as “Closed or signed markets” for all periods presented. Citi’s 4Q25 Financial Data Supplement (issued on January 14, 2026) had AO Citibank (Russia) classified as “Wind-down/sale/other” because the sale of AO Citibank (Russia) was not signed and closed until February 18, 2026.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and “Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 30
Reconciliation of Adjusted Results (Page 6)
(In millions of dollars, except as otherwise noted)
Full
Full
Full
Full
Full
1Q
2Q
3Q
4Q
1Q
2Q
3Q
4Q
Year
Year
Year
Year
Year
2024
2024
2024
2024
2025
2025
2025
2025
2021
2022
2023
2024
2025
Legacy Franchises (LF) exits contribution(1)
Revenues
Closed or signed markets revenues—Ex-divestitures
$
189
$
171
$
147
$
117
$
108
$
118
$
122
$
(1,456)
$
2,843
$
2,342
$
1,175
$
624
$
(1,108)
Add:
Divestiture-related impacts on closed or signed markets revenues
-
2
-
4
-
(177)
2
(1)
(670)
854
1,448
6
(176)
Closed or signed markets revenues—U.S. GAAP
$
189
$
173
$
147
$
121
$
108
$
(59)
$
124
$
(1,457)
$
2,173
$
3,196
$
2,623
$
630
$
(1,284)
Mexico Consumer/SBMM Revenues—Ex-divestitures
$
1,563
$
1,633
$
1,523
$
1,422
$
1,467
$
1,536
$
1,722
$
1,775
$
4,539
$
4,637
$
5,668
$
6,141
$
6,500
Add:
Divestiture-related impacts on Mexico/SBMM
-
-
-
-
-
-
-
-
-
-
-
-
-
Mexico Consumer/SBMM revenues—U.S. GAAP
$
1,563
$
1,633
$
1,523
$
1,422
$
1,467
$
1,536
$
1,722
$
1,775
$
4,539
$
4,637
$
5,668
$
6,141
$
6,500
Wind-downs/sale/other revenues—Ex-divestitures
$
67
$
(85)
$
64
$
24
$
46
$
37
$
27
$
10
$
1,336
$
577
$
439
$
70
$
120
Add:
Divestiture-related impacts on wind-downs/sale/other revenues
(12)
31
1
-
-
-
-
-
-
-
(102)
20
-
Wind-downs/sale/other revenues—U.S. GAAP
$
55
$
(54)
$
65
$
24
$
46
$
37
$
27
$
10
$
1,336
$
577
$
337
$
90
$
120
Expenses
Closed or signed markets expenses—Ex-divestitures
$
246
$
247
$
202
$
162
$
135
$
161
$
133
$
108
$
2,507
$
2,483
$
1,740
$
857
$
537
Add:
Divestiture-related impacts on closed or signed markets expenses
11
12
13
12
10
7
4
8
-
138
151
48
29
Closed or signed markets expenses—U.S. GAAP
$
257
$
259
$
215
$
174
$
145
$
168
$
137
$
116
$
2,507
$
2,621
$
1,891
$
905
$
566
Mexico Consumer/SBMM expenses—Ex-divestitures
$
1,123
$
1,049
$
1,001
$
1,036
$
1,039
$
954
$
1,013
$
928
$
3,104
$
3,394
$
4,002
$
4,209
$
3,934
Add:
Divestiture-related impacts on Mexico/SBMM
61
67
42
36
21
30
759
34
-
25
195
206
844
Mexico Consumer/SBMM expenses—U.S. GAAP
$
1,184
$
1,116
$
1,043
$
1,072
$
1,060
$
984
$
1,772
$
962
$
3,104
$
3,419
$
4,197
$
4,415
$
4,778
Wind-downs/sale/other Expenses—Ex-divestitures
$
236
$
254
$
272
$
183
$
160
$
172
$
174
$
186
$
1,719
$
1,174
$
976
$
945
$
692
Add:
Divestiture-related impacts on wind-downs/sale/other expenses
38
6
12
8
3
-
3
(2)
1,171
533
26
64
4
Wind-downs/sale/other expenses—U.S. GAAP
$
274
$
260
$
284
$
191
$
163
$
172
$
177
$
184
$
2,890
$
1,707
$
1,002
$
1,009
$
696
(1) For this presentation, AO Citibank (Russia) has been classified as “Closed or signed markets” for all periods presented. Citi’s 4Q25 Financial Data Supplement (issued on January 14, 2026) had AO Citibank (Russia) classified as “Wind-down/sale/other” because the sale of AO Citibank (Russia) was not signed and closed until February 18, 2026.
Note:
See “All Other—Divestiture-Related Impacts (Reconciling Items)” in Citi’s Annual Reports on Form 10-K for the years ended December 31, 2025, 2024 and 2023, and “Legacy Franchises” in Citi’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional information on divestiture-related impacts.
Page 30
EX-99.2
EX-99.2
Filename: c-20260403xex99d2.htm · Sequence: 3
Citigroup Inc._April 3, 2026
Exhibit 99.2
Citigroup Inc. securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:
Title of each class
Ticker
Symbol(s)
Title for iXBRL
Name of each
exchange on
which
registered
Common Stock, par value $.01 per share
C
Common Stock, par value $.01 per share
New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 6.250% Noncumulative Preferred Stock, Series II
C PR R
Dep Shs, represent 1/1,000th interest in a share of 6.250% Noncum Pref Stk, Ser II
New York Stock Exchange
7.625% Trust Preferred Securities of Citigroup Capital III (and registrant’s guaranty with respect thereto)
C/36Y
7.625% TRUPs of Cap III (and registrant’s guaranty)
New York Stock Exchange
7.875% Fixed Rate / Floating Rate Trust Preferred Securities (TruPS®) of Citigroup Capital XIII (and registrant’s guaranty with respect thereto)
C N
7.875% FXD / FRN TruPS of Cap XIII (and registrant’s guaranty)
New York Stock Exchange
Medium-Term Senior Notes, Series N, Callable Fixed Rate Notes Due April 26, 2028 of CGMHI (and registrant’s guaranty with respect thereto)
C/28
MTN, Series N, Callable Fixed Rate Notes Due Apr 2028 of CGMHI (and registrant’s guaranty)
New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 17, 2026 of CGMHI (and registrant’s guaranty with respect thereto)
C/26
MTN, Series N, Floating Rate Notes Due Sept 2026 of CGMHI (and registrant’s guaranty)
New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due September 15, 2028 of CGMHI (and registrant’s guaranty with respect thereto)
C/28A
MTN, Series N, Floating Rate Notes Due Sept 2028 of CGMHI (and registrant’s guaranty)
New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due October 6, 2028 of CGMHI (and registrant’s guaranty with respect thereto)
C/28B
MTN, Series N, Floating Rate Notes Due Oct 2028 of CGMHI (and registrant’s guaranty)
New York Stock Exchange
Medium-Term Senior Notes, Series N, Floating Rate Notes Due March 21, 2029 of CGMHI (and registrant’s guaranty with respect thereto)
C/29A
MTN, Series N, Floating Rate Notes Due Mar 2029 of CGMHI (and registrant’s guaranty)
New York Stock Exchange
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Entity Registrant Name
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Entity Incorporation, State or Country Code
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Entity Tax Identification Number
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Title of 12(b) Security
MTN, Series N, Floating Rate Notes Due Oct 2028 of CGMHI (and registrant’s guaranty)
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