Citigroup delivered a strong start to 2026, with significant revenue and net income growth driven by broad-based strength across its five interconnected businesses and legacy franchises. The company is nearing the completion of its divestitures and transformation programs, demonstrating a commitment to capital return and on track to meet its RoTCE targets.
Total revenues increased 14% year-over-year to $24.6 billion, driven by growth in all five interconnected businesses and Legacy Franchises.
positiveNet income grew 42% year-over-year to $5.8 billion, reflecting higher revenues and a lower effective tax rate.
positiveEarnings per diluted share increased to $3.06 from $1.96 in the prior-year period, benefiting from higher net income and share repurchases.
positiveServices segment revenues increased 17% to $6.1 billion, with strong growth in Treasury and Trade Solutions and Securities Services.
positiveMarkets segment revenues increased 19% to $7.2 billion, driven by robust performance in Fixed Income and Equity markets.
positiveBanking segment revenues increased 15% to $1.8 billion, primarily driven by a 19% increase in Investment Banking.
positiveWealth segment revenues increased 11% to $3.1 billion, with growth in Citigold and Retail Banking and the Private Bank.
positiveU.S. Consumer Cards segment revenues increased 4% to $4.8 billion.
positiveReturned approximately $7.4 billion to common shareholders through share repurchases and dividends.
positiveCommon Equity Tier 1 (CET1) Capital ratio was 12.7%, and preliminary RoTCE was 13.1%.
neutralTotal operating expenses increased 7% year-over-year to $14.3 billion, driven by higher compensation and benefits, including severance, and foreign exchange translation.
attentionProvision for credit losses was $2.8 billion, up 3% year-over-year, reflecting higher net credit losses and a net ACL build, driven by increased uncertainty in the macroeconomic outlook.
attentionNet credit losses increased 10% year-over-year in the Wealth segment to $88 million.
attentionNet credit losses increased 45% year-over-year in All Other (managed basis) to $371 million.
attentionCorporate/Other revenues declined significantly to $(479) million from $(158) million in the prior year, due to lower net interest income from asset sensitivity management.
attentionCommon Equity Tier 1 (CET1) Capital ratio decreased to 12.7% from 13.2% in the prior quarter, primarily driven by common share repurchases and dividends.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Services | N/A | — | — | — |
Markets | N/A | — | — | — |
Banking | N/A | — | — | — |
Wealth | N/A | — | — | — |
U.S. Consumer Cards | N/A | — | — | — |
All Other (Managed Basis) | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| RoTCE | 10% to 11% | FY2026 | tight_range | New |
| NII ex-Markets | approximately 5% to 6% | FY2026 | tight_range | New |
| U.S. credit cards NCL rate | between 4.0% and 4.5% | FY2026 | tight_range | New |
| efficiency ratio | around 60% | FY2026 | point | Maintained |
Strong start to 2026 with revenue up 14% and net income growing 42%.
Services had an outstanding quarter with revenue up 17% and Markets crossed $7 billion in revenue.
Banking continued to build momentum with fees up 12% amid a record first quarter in M&A.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.