US Stocks: Citi Profit Jumps 40% with Higher Investment Banking, Services and Wealth Revenue
The bank’s services and equities trading helped offset slower underwriting and a 10% drop in net income from the previous quarter.
- On Tuesday, Citigroup reported a 40% third-quarter profit increase to $5.25 billion, or $2.85 per share, surpassing the average analyst estimate of $2.66 per share.
- Services and wealth management drove growth, with revenue rising 15% and profit climbing 27%, while investment banking revenue increased 9% to $1.35 billion compared to a year earlier.
- Trading revenue fell 13% from the second quarter, and credit card profits dropped 8% due to higher reward costs and credit provisions amid broader pressure from rising bond yields.
- CEO Jane Fraser announced the bank returned $4.1 billion to shareholders through buybacks and dividends in the quarter, while continuing multiyear restructuring to resolve regulatory demands.
- The bank expects to list its 51% stake in the Mexican unit Banamex on the stock exchange next year, completing a broader divestment strategy to refocus on sustainable returns.
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Citigroup Inc., one of the largest banks in the United States, increased net profits by 41% in the third quarter of 2026.
Citigroup (NYSE:C) Releases Quarterly Earnings Results, Beats Expectations By $0.20 EPS
Citigroup (NYSE:C - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $2.85 EPS for the quarter, beating the consensus estimate of $2.65 by $0.20. Citigroup had a net margin of 10.23% and a return on equity of 10.15%.
The Citi reported total profit of US$5.25 billion in the third quarter, or US$2.85 per share, up 40% compared to the same period of the previous year. Revenue grew 8% on an annual basis, to US$23.85 billion, marking its best third quarter in a decade. Exclusive material for subscribers. To have full access, access the link of the subject and register.
The Economic Times
Times of IndiaUS stocks: Citi profit jumps 40% with higher investment banking, services and wealth revenue
Citigroup has reported a remarkable 40% jump in its third-quarter profits year-over-year, despite some declines in other areas. Trading revenue took a hit, influenced by unstable market conditions, while investment banking saw a modest 9% year-on-year increase but fell substantially from the last quarter. Credit card profits faced declines due to heightened costs and loan loss provisions. Citi is wrapping up a multi-year restructuring as it aims…
Citi tops profit estimates on higher investment banking, services and ...
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