Citigroup 8-K
PositiveEarningsNew guidance
Services and Wealth drive growth as Citi pulls forward investment and expects to exceed this year’s return target
Filed 2026-10-13 10:09 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q3 2026 results with forward return targets. Citigroup reported higher revenue, net income and diluted EPS year over year, supported by growth across Services, Wealth, Markets and Banking. Management said it expects to exceed this year’s return target while pulling forward investment toward its near-term return goal.
Key Figures
| Metric | Q3 2026 | 9M 2026 |
|---|---|---|
| Revenue | $23.8B, +8% Y/Y | $73.2B, +12% Y/Y |
| Citigroup’s net income | $5.25B, +40% Y/Y | $16.9B, +42% Y/Y |
| Diluted EPS | $2.85, +53% Y/Y | $9.07, +57% Y/Y |
- Revenue growth reflected Services and Wealth, each up 15% Y/Y, and Markets and Banking, each up 6%. Positive operating leverage was 1,031 bp.
- Operating expenses were $14.0B, down 2% reported, partly because the prior-year quarter included a $726M goodwill impairment; excluding that item, expenses rose 3%. Provision for credit losses was $2.59B, up 6%, including a $369M net reserve build.
- Citi returned $4.1B through common share repurchases and dividends; common shares outstanding fell 7% Y/Y to 1.66B. The payout ratio was 85%, and the preliminary CET1 ratio was 12.8%.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| RoTCE, non-GAAP | Near-term | 11%-13% | — | — |
| RoTCE, non-GAAP | Longer-term sustainable returns | 14%-15% | — | — |
Investor Takeaways
- Watch whether subsequent results show progress toward the near-term 11%-13% RoTCE goal while Citi continues its planned investment.
The summary is written by an AI model reading the filing.
Model 005 · prompt 8bef31e277