Citigroup Q1 2025 – Net Income Grows to $4.1 Billion

By Bobby Samwell • Tuesday, April 15 15:20 • Permanent Link

Citigroup Inc. (NYSE: C) has reported its first quarter 2025 results, revealing a net income of $4.1 billion, or $1.96 per diluted share, on revenues of $21.6 billion. This represents an increase in net income from the first quarter of 2024, during which the company reported a net income of $3.4 billion, or $1.58 per diluted share, on revenues of $21.0 billion.

Revenues increased by 3% from the prior-year period, driven by growth in each of Citigroup's five interconnected businesses. Excluding divestiture-related impacts in both periods, revenues were also up 3%.

The company returned approximately $2.8 billion in the form of common dividends and share repurchases, with a payout ratio of 74%. Book value per share stood at $103.90, showing a 5% increase from the prior-year period, while tangible book value per share was $91.52, marking a 6% increase from the prior-year period.

Citigroup's total allowance for credit losses was approximately $22.8 billion at quarter end, compared to $21.8 billion at the end of the prior-year period. Total allowance for credit losses on loans was approximately $18.7 billion at quarter end, with a reserve-to-funded loans ratio of 2.70%, down from 2.75% in the prior-year period.

In terms of specific business segments, Services recorded its best first quarter revenue in a decade, with revenues of $4.9 billion, up 3% from the prior-year period. Markets had a good first quarter with revenue up 12%, driven by growth in both fixed income and equity markets revenues.

Citigroup's CEO, Jane Fraser, emphasized the company's progress, positive operating leverage, and improved returns in each of its five businesses. She highlighted the company's focus on executing its strategy, based on a diversified business mix, and its ability to perform in a wide variety of macro scenarios.

The company's strong performance in the first quarter of 2025 reflects its continued momentum and positive trajectory across various key metrics. As a result of these announcements, the company's shares have moved 2.9% on the market, and are now trading at a price of $65.05. Check out the company's full 8-K submission here.

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