Citigroup Inc. today announced first-quarter 2026 net income of $5.8 billion, or $3.06 per diluted share, with revenues of $24.6 billion, representing a 56% year-over-year increase in earnings per share.
Revenues increased 14% from the prior-year period, driven by growth in each of Citi’s five interconnected businesses.
Net income was $5.8 billion, compared to $4.1 billion in the prior-year period, driven by higher revenues and a lower effective tax rate, partially offset by higher expenses and a higher provision for credit losses.
In a press release, Citi Chair and CEO Jane Fraser told investors, “We’re off to an exceptionally strong start in 2026, with revenue up 14% and net income growing 42%. Services had an outstanding quarter with revenue up 17%, and Markets crossed $7 billion in revenue. Banking continued to build momentum, with fees up 12%, amid a record first quarter in M&A. Wealth saw revenue grow 11% and continued to improve its returns, and U.S. Consumer Cards experienced 4% revenue growth with nearly 20% returns. Our diversified business model continues to drive steady revenue growth, and we remain a source of financial strength and trust for our clients during uncertain times.
“We’ve entered the final phase of our divestitures, and 90% of our Transformation programs are now at or near our target state. We demonstrated our commitment to returning capital by repurchasing $6.3 billion in shares during the quarter.
“We remain very much on track to deliver the 10-11% RoTCE target this year. I’m excited for next month’s Investor Day, where we’ll discuss our path forward and how we will realize the significant upside Citi offers,” she concluded.
Citi shares rose around 2% following the announcement.
By CEO NA Editorial Staff
