Citigroup reported third-quarter 2026 net income of $5.2 billion, up 40% from $3.8 billion a year earlier, while revenue rose 8% to $23.8 billion from $22.1 billion.
Earnings per diluted share increased to $2.85 from $1.86, a 53% jump on a reported basis. Excluding the prior-year notable item, EPS was $2.24 in the third quarter of 2025, putting this year’s result 27% higher.
Operating expenses fell 2% year over year to $14.0 billion from $14.3 billion, while the efficiency ratio improved to 58.5% from 64.7%, a 620-basis-point gain. The company’s provision for credit losses rose 6% to $2.6 billion from $2.5 billion.
Loans and deposits both expanded. End-of-period loans increased 12% to $820 billion from $734 billion a year earlier, and average loans also rose 12% to $809 billion from $725 billion. End-of-period deposits climbed 9% to $1.505 trillion from $1.384 trillion, while average deposits rose 11% to $1.528 trillion from $1.382 trillion.
Book value per share rose 7% to $115.61 from $108.41, and tangible book value per share increased 6% to $101.59 from $95.72. Citigroup returned $4.1 billion to common shareholders during the quarter.
Capital ratios were lower than a year ago but unchanged from the prior quarter at the top line: CET1 stood at 12.8%, compared with 13.3% a year earlier, while the supplementary leverage ratio was 5.0%, down from 5.5%.
By business, services revenue climbed 15% to $6.614 billion from $5.730 billion, with net income up 27% to $2.637 billion from $2.081 billion. Treasury and trade solutions revenue rose 16% to $4.902 billion, and securities services revenue increased 13% to $1.712 billion.
In services, average deposits rose 16% to $1.037 trillion from $893 billion, and average loans increased 14% to $107 billion from $94 billion. Cross-border transaction value rose 10%, U.S. dollar clearing volume increased 5%, and commercial card spend volume advanced 10%.
Markets revenue increased 6% to $6.113 billion from $5.745 billion, but net income edged up only 2% to $1.743 billion from $1.702 billion. Within markets, equity markets revenue rose 14% to $1.727 billion, while fixed income markets revenue increased 4% to $4.386 billion. Rates and currencies were flat at $2.965 billion, while spread products and other fixed income rose 13% to $1.421 billion.
Markets operating expenses increased 7% year over year to $3.750 billion, and the unit’s return on average tangible common equity slipped to 12.3% from 12.6%.
Overall return on average common equity improved to 10.1% from 7.1% a year earlier, and return on average tangible common equity rose to 11.5% from 8.0%. As a result of these announcements, the company's shares have moved 1.76% on the market, and are now trading at a price of $131.92. For the full picture, make sure to review CITIGROUP INC's 8-K report.
