Citigroup Q1 2026 – Net Income Up 42%

By Chris Stiles • Tuesday, April 14 10:57 • Permanent Link

Citigroup reported first-quarter 2026 net income of $5.8 billion, up 42% from $4.1 billion a year earlier, as revenue rose 14% to $24.6 billion from $21.6 billion.

Earnings per share climbed to $3.06 from $1.96. Total operating expenses increased 7% to $14.3 billion from $13.4 billion, while the provision for credit losses rose 3% to $2.8 billion from $2.7 billion.

The bank’s efficiency ratio improved to 58.1% from 62.2% a year ago. Return on average common equity was 11.5%, up from 8.0%, and return on average tangible common equity reached 13.1%, compared with 9.1%.

Citigroup ended the quarter with loans of $762 billion, up 8% from $702 billion, and deposits of $1.446 trillion, up 10% from $1.316 trillion. End-of-period assets rose 8% to $2.778 trillion from $2.572 trillion.

Book value per share increased 8% to $112.22 from $103.90, while tangible book value per share rose 8% to $99.01 from $91.52.

The common equity tier 1 capital ratio was 12.7%, down from 13.4% a year earlier and 13.2% in the prior quarter. The supplementary leverage ratio fell to 5.2% from 5.8% a year earlier and 5.5% in the prior quarter.

Citigroup returned about $7.4 billion to common shareholders during the quarter, including $6.3 billion in share repurchases.

By business, services revenue rose 17% to $6.1 billion from $5.2 billion, with net income up 21% to $2.2 billion from $1.8 billion. Markets revenue increased 19% to $7.2 billion from $6.1 billion, and net income jumped 40% to $2.6 billion from $1.8 billion.

In services, treasury and trade solutions revenue climbed 17% to $4.6 billion, while securities services revenue also rose 17% to $1.5 billion. In markets, fixed income revenue increased 13% to $5.2 billion and equity markets revenue surged 39% to $2.1 billion.

Wealth revenue rose 11% year over year, banking fees increased 12%, and U.S. consumer cards revenue grew 4%. The market has reacted to these announcements by moving the company's shares -1.81% to a price of $112.41. For the full picture, make sure to review CITIGROUP INC's 8-K report.

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