Citigroup Stock Earnings Reports

Citi reported a strong Q2 2026: net income $5.8B, EPS $3.15, ROTCE 13% and the firm’s best quarterly revenue in a decade ($24.8B). Revenue grew 14% YoY with positive operating leverage; expenses rose 5% as the bank steps up investments (technology, AI, front-office talent). Highlights by business: Services (TTS & Securities) delivered record quarterly revenue and ~31% ROTCE, deposits +19% and AUC/A up >20%; Markets +17% (Equities +45%, prime balances +60%); Banking +34% (Investment banking +44% with strong ECM/DCM activity); Wealth +13% with NNIA momentum; US Consumer Cards revenues roughly flat (NII +5%, NIR -47% YoY due to partner accruals and acquisition-related costs) and ROTCE ~22%. Capital and shareholder returns: CET1 12.8% (~120 bps above regulatory minimum), $30B repurchase program ($4B repurchased in Q2), and a planned 12% dividend increase starting Q3 (board approval pending). Credit: firm-wide cost of credit $2.5B driven mainly by US consumer cards; reserves $22B (reserve/funded loans 2.5%); guidance for US card NCL 4–4.5%. Transformation/remediation: substantial progress — large bodies of remediation passed internal audit validation and remediation expenses are being wound down; regulators will determine timing for consent order removal. Outlook and guidance: full-year ROTCE target 10–11% (anchored to current rules), NII ex-markets growth ~5–6%, full-year efficiency ratio around 60% (reflecting ramped investments and additional severance), markets typically seasonal with historically ~20% H1-to-H2 revenue decline (but result depends on market conditions). Management emphasized optionality to "lean in" and accelerate organic investments if the environment remains constructive.