Citigroup beats expectations in the second quarter with profits of 5.8 billion and revenue up 14 per cent

(Il Sole 24 Ore Radiocor) - Citigroup closed the second quarter with profits and revenues on the rise and above expectations, thanks mainly to market-related activities and, in particular, foreign exchange and equities (+45%). In the three months to June, the New York-based bank saw profits rise by 45 per cent to $5.83 billion, $3.15 per share, and revenue rose by 14% to $24.766 billion, exceeding analysts’ expectations of earnings of $2.71 on revenue of $23.8 billion. Provisions for potential credit-related losses fell by 12 per cent to $2.52 billion. Looking at capital ratios, the CET1 ratio stood at 12.8 per cent, compared with 13.5 per cent in the same period last year, but above the 12.7 per cent recorded in the previous three months. Return on equity was 11.4% (7.7% in the second quarter of 2025 and 11.5% in the previous three months), ROTCE was 13 per cent (up from 8.7 per cent) and the efficiency ratio was 57.4 per cent (down from 62.7 per cent). “Earnings growth will enable us to increase the dividend by 12 per cent as planned, and we have launched the $30 billion share buyback programme. “The combination of our investments, disciplined execution and focus on customers is improving our returns, delivering more sustainable results for our investors,” said CEO Jane Fraser.

Ars