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Citigroup tops estimates as loan loss provisions come in lighter than expected
Citigroup's adjusted EPS of $1.81 beat estimates due to a $2.2 billion credit loss provision and strong dealmaking despite a $1.2 billion Russia business loss.
- After its board approved the sale last month, Citigroup said on Wednesday its C-N profit fell 13 per cent due to a US$1.2-billion loss tied to the AO Citibank sale last month.
- Renewed corporate confidence and a more accommodating regulatory backdrop prompted companies to strike deals, lifting fee income as activity rebounded in the second half after tariff announcements and a U.S. government shutdown delayed deals.
- Revenue in Citi's banking unit climbed to US$2.2-billion in the fourth quarter with record M&A performance, while Citi's markets revenues fell 1 per cent to US$4.54-billion.
- Citigroup's return on tangible common equity was 5.1 per cent in the fourth quarter, or 7.7 per cent excluding the Russia loss, as CEO Jane Fraser's reorganization precedes about 1,000 job cuts this week.
- Analysts expect deal momentum to extend into the new year, helped by lower interest rates, while rival banks JPMorgan Chase, Bank of America, and Wells Fargo posted stronger quarterly profits.
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19 Articles
Citi profits hit by Russia charge, after ending 2025 with strong dealmaking performance
Citigroup's fourth-quarter profit plunged 13% as the financial behemoth grappled with massive charges from dumping its Russia operations amid the war in Ukraine, but it wrapped up 2025 on a high note with beefier annual earnings.
·New York, United States
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Citigroup profit hit by Russia charge as dealmaking and services shine
Citigroup's profit fell 13% in the fourth quarter as it booked a $1.2 billion loss tied to the sale of its Russia business, offsetting higher revenue from dealmaking and services to corporate clients.
·United Kingdom
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Coverage Details
Total News Sources19
Leaning Left1Leaning Right2Center6Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
11%
C 67%
R 22%
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