- Citigroup Inc.
- 14 April 2026 14:43:54
Source: Sharecast
New York City-based Citigroup said profits for the three months ended 31 March rose to $5.8bn, or $3.06 per share, up from $4.1bn, or $1.96 per share, a year earlier, while revenue climbed to $24.6bn - the bank's highest quarterly total in a decade - with total markets revenue up 19% year‑on‑year at $7.2bn. Citi also delivered a 13.1% return on tangible common equity in the quarter, ahead of its 10-11% full‑year target.
Equities trading revenue jumped 39%, fixed income rose 13%, rates and currencies increased 6%, and other fixed income revenue was up 27% on strong commodities performance.
Investment‑banking revenue rose 15% as dealmaking accelerated, while equity underwriting fees surged 64%, and M&A advisory fees increased 19%. Fixed‑income underwriting fees, on the other hand, slipped 6%.
Net interest income rose 12%, while revenue in Citi's wealth‑management and retail‑banking division grew 11%, though the unit posted the bank's lowest return at 10.8% on tangible common equity.
Chief executive Jane Fraser said the bank had entered the final phase of its divestiture programme, with 90% of its transformation initiatives at or near target state after it repurchased $6.3bn of shares during the quarter.
As of 1440 BST, Citigroup shares were up 1.52% at $128.20 each.
Reporting by Iain Gilbert at Sharecast.com