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"total_revenues_net_of_interest_expense": 7007000000, "income_from_continuing_operations": 2404000000 }, "banking": { "total_revenues_net_of_interest_expense": 1922000000, "income_from_continuing_operations": 351000000 }, "wealth": { "total_revenues_net_of_interest_expense": 3177000000, "income_from_continuing_operations": 583000000 }, "us_consumer_cards": { "total_revenues_net_of_interest_expense": 4521000000, "income_from_continuing_operations": 852000000 }, "all_other_managed_basis": { "total_revenues_net_of_interest_expense": 1737000000, "income_from_continuing_operations": -761000000 }, "all_other_divestiture_related_impacts": { "total_revenues_net_of_interest_expense": 20000000, "income_from_continuing_operations": -2000000 } } } ], "notes": [ "Citigroup is a bank holding company, so this record uses a bank schema: net interest income, non-interest revenue, provisions for credit losses, operating expenses, loans, deposits, regulatory capital ratios and segment results. Revenue/cost-of-goods/capital-expenditure framing does not describe this business and is not used.", "Every dollar figure is stored in actual dollars. The filings state their tables in millions of dollars; share counts on the earnings-per-share rows and in the tangible common equity tables are stated in millions of shares. Ratios are stored as percentages exactly as printed (13.18 means 13.18%).", "Annual figures for FY2023, FY2024 and FY2025 come from the FY2025 Form 10-K (accession 0000831001-26-000011). Quarterly, six-month and trailing-twelve-month figures come from the Form 10-Q for the quarter ended June 30, 2026 (accession 0000831001-26-000045).", "The 10-K's income statement and cash flow statement each show three years; its balance sheet shows only December 31, 2025 and 2024. The FY2023 balance-sheet items here (total assets, deposits, long-term debt, loans, allowance, equity, book value per share) are taken from the 10-K's own five-year Summary of Selected Financial Data, five-year Loans Outstanding table and five-year tangible common equity table. FY2023 total liabilities, total investments and short-term borrowings are not presented anywhere in that 10-K and are therefore omitted rather than estimated.", "The Q1 2026 and Q1 2025 dollar totals are derived, not printed: each line is the six-month column of the 10-Q less the three-month column of the same statement. The totals tie exactly (Q1 2026 net income of $5,785 million and Q1 2025 net income of $4,064 million). Per-share amounts are not additive across periods and were not derived that way: the diluted earnings per share and the weighted-average share counts shown for those two quarters are the figures Citigroup itself reported in its first-quarter 2026 earnings materials, Exhibits 99.1 and 99.2 to the Form 8-K filed April 14, 2026 (accession 0001104659-26-042942), which print both quarters side by side.", "Citigroup presents cash flows only for the year (in the 10-K) and for the six months (in the 10-Q); it does not publish a three-month cash flow statement. The quarterly entries therefore carry no cash flow, and the six-month 2026 cash flows sit in the year-to-date block.", "The trailing-twelve-month block covers July 1, 2025 through June 30, 2026 and is derived: full-year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. Its income-statement lines tie internally (revenues of $91,360 million less provisions of $9,997 million less operating expenses of $56,656 million equals pretax income of $24,707 million).", "Citigroup changed two presentations during 2025 and conformed the prior years in this 10-K: from January 1, 2025 certain transaction processing fees paid to credit card networks moved out of operating expenses and are now shown as contra-revenue within commissions and fees; from July 1, 2025 certain hedging and foreign-currency gains and losses moved from other revenue into principal transactions, and a new 'transactional and product servicing' expense category was created. The FY2023 and FY2024 figures here are the issuer's conformed figures as printed in the FY2025 10-K, so total revenue and total operating expenses for those years are lower than the amounts originally reported in the earlier annual reports; net income is unchanged.", "Effective January 1, 2026 Citigroup realigned its consumer businesses: Retail Banking moved from U.S. Personal Banking (USPB) into Wealth, and the remainder of USPB became a new U.S. Consumer Cards (USCC) segment. The annual entries therefore report a USPB segment and the quarterly entries report a USCC segment, and Wealth is not comparable across that boundary. The company conformed prior-quarter segment amounts to the new structure, so the Q2 2025 segment figures shown here are on the 2026 basis and differ from what was reported for that quarter at the time.", "The segment lines include Citigroup's own 'All Other - divestiture-related impacts' reconciling line, so segment revenue and segment income from continuing operations add exactly to the consolidated totals in every period shown.", "Operating cash flow is deeply negative in most periods. For a bank this is normal and is not a sign of weak earnings: changes in trading account assets and liabilities, brokerage balances and loans held for sale run through operating activities, so the figure moves with the trading balance sheet. Free cash flow is not reported here because it is not a meaningful measure for a bank; the capital expenditure line (premises, equipment and capitalised software) is reported on its own.", "Noncontrolling interests rose sharply in 2026 because Citigroup sold a 25% equity stake in Banamex in December 2025 and a further 22.6% in April 2026, so a growing share of Banamex's earnings is attributable to other shareholders rather than to Citigroup.", "Net interest margin is stated on the taxable-equivalent basis Citigroup uses, which grosses up tax-exempt income; the gross-up was $28 million in the second quarter of 2026 and $106 million for full-year 2025, so the taxable-equivalent net interest income differs slightly from the income statement figure.", "Which regulatory framework produces the binding capital ratio varies by period, as Citigroup footnotes: the CET1 ratios shown are the binding ones for each date. At June 30, 2026 the binding CET1 and Tier 1 ratios were derived under the Basel III Standardized Approach and the binding Total Capital ratio under the Advanced Approaches.", "The balance-sheet items shown for the quarter ended June 30, 2025 are limited to what the June 2026 10-Q prints for that date (total assets, deposits, long-term debt, equity and book value per share); loans and the loan-loss allowance as of June 30, 2025 are not presented in that filing and are omitted.", "No split, currency or depositary-receipt adjustment applies: Citigroup reports in U.S. dollars, is not a depositary-receipt issuer, and has had no stock split in the period covered." ], "uncertainties": [ "The trailing-twelve-month diluted earnings per share of $9.28 is an approximation and is likely a few cents overstated. It is built by adding the reported six-month 2026 figure to full-year 2025 and subtracting six-month 2025, and per-share amounts are ratios that are not strictly additive. Dividing trailing-twelve-month net income available to common of $16,638 million by a comparably weighted trailing share count gives about $9.25, and using the smaller numerator Citigroup allocates to unrestricted common shareholders for diluted earnings per share gives about $9.20, so the true twelve-month figure is below $9.28 rather than either side of it.", "The trailing-twelve-month efficiency ratio of 62.0% is calculated here from the derived trailing-twelve-month revenue and expense totals; Citigroup does not publish a trailing-twelve-month efficiency ratio.", "Basic earnings per share is not shown for Q1 2026 and Q1 2025. Citigroup's first-quarter 2026 earnings materials print diluted earnings per share and both the average basic and average diluted share counts for those quarters, but not basic earnings per share, and per-share amounts cannot be obtained by differencing the cumulative columns of the 10-Q. Every other figure shown for those two quarters is exact.", "FY2023 has no total liabilities, total investments or short-term borrowings, and no segment-level detail beyond revenue and income from continuing operations, because the FY2025 10-K does not present those items for 2023.", "Segment results are not comparable between the annual entries (USPB, and Wealth without Retail Banking) and the quarterly entries (USCC, and Wealth including Retail Banking) because of the January 1, 2026 business realignment.", "Second-quarter 2025 loans, allowance for credit losses and shares outstanding are not shown, because the June 2026 10-Q does not print those as of June 30, 2025." ], "year_to_date": { "label": "Six months ended June 30, 2026", "period_start": "2026-01-01", "period_end": "2026-06-30", "period_type": "six months", "source_accession": "0000831001-26-000045", "fiscal_year": 2026, "income_statement": { "interest_income": 73175000000, "interest_expense": 40309000000, "net_interest_income": 32866000000, "total_non_interest_revenue": 16533000000, "total_revenues_net_of_interest_expense": 49399000000, "total_provisions_for_credit_losses_and_benefits_and_claims": 5327000000, "total_operating_expenses": 28526000000, "income_from_continuing_operations_before_taxes": 15546000000, "provision_for_income_taxes": 3583000000, "income_from_continuing_operations": 11963000000, "net_income_before_noncontrolling_interests": 11962000000, "net_income_attributable_to_noncontrolling_interests": 346000000, "net_income": 11616000000, "basic_eps": 6.32, "basic_weighted_average_shares_outstanding": 1718900000, "diluted_eps": 6.21, "diluted_weighted_average_shares_outstanding": 1755800000, "net_income_available_to_common": 10973000000, "dividends_declared_per_common_share": 1.2, "common_dividends_declared": 2104000000, "preferred_dividends_declared": 643000000, "common_share_repurchases": 10300000000 }, "cash_flow": { "net_cash_from_operating_activities": -45952000000, "net_cash_from_investing_activities": -118614000000, "net_cash_from_financing_activities": 182162000000, "capital_expenditures_on_premises_equipment_and_capitalized_software": -2966000000, "dividends_paid": -2714000000 }, "ratios_and_capital": { "return_on_average_assets_percent": 0.81, "return_on_average_common_stockholders_equity_percent": 11.5, "return_on_tangible_common_equity_percent": 13.1, "efficiency_ratio_percent": 57.7 }, "segments": { "services": { "total_revenues_net_of_interest_expense": 12485000000, "income_from_continuing_operations": 4839000000 }, "markets": { "total_revenues_net_of_interest_expense": 14253000000, "income_from_continuing_operations": 5033000000 }, "banking": { "total_revenues_net_of_interest_expense": 3689000000, "income_from_continuing_operations": 655000000 }, "wealth": { "total_revenues_net_of_interest_expense": 6242000000, "income_from_continuing_operations": 1015000000 }, "us_consumer_cards": { "total_revenues_net_of_interest_expense": 9278000000, "income_from_continuing_operations": 1584000000 }, "all_other_managed_basis": { "total_revenues_net_of_interest_expense": 3419000000, "income_from_continuing_operations": -1149000000 }, "all_other_divestiture_related_impacts": { "total_revenues_net_of_interest_expense": 33000000, "income_from_continuing_operations": -14000000 } } }, "trailing_twelve_months": { "label": "Twelve months ended June 30, 2026", "period_start": "2025-07-01", "period_end": "2026-06-30", "period_type": "twelve months", "source_accession": "0000831001-26-000045", "income_statement": { "interest_income": 146514000000, "interest_expense": 83043000000, "net_interest_income": 63471000000, "total_non_interest_revenue": 27889000000, "total_revenues_net_of_interest_expense": 91360000000, "total_provisions_for_credit_losses_and_benefits_and_claims": 9997000000, "total_operating_expenses": 56656000000, "income_from_continuing_operations_before_taxes": 24707000000, "provision_for_income_taxes": 6430000000, "income_from_continuing_operations": 18277000000, "net_income_before_noncontrolling_interests": 18274000000, "net_income_attributable_to_noncontrolling_interests": 435000000, "net_income": 17839000000, "net_income_available_to_common": 16638000000, "diluted_eps": 9.28, "dividends_declared_per_common_share": 2.4, "common_dividends_declared": 4309000000, "preferred_dividends_declared": 1201000000, "common_share_repurchases": 19800000000 }, "cash_flow": { "net_cash_from_operating_activities": -18297000000, "net_cash_from_investing_activities": -177947000000, "net_cash_from_financing_activities": 228128000000, "capital_expenditures_on_premises_equipment_and_capitalized_software": -6214000000, "dividends_paid": -5435000000 }, "ratios_and_capital": { "efficiency_ratio_percent": 62 }, "derived_from": [ "0000831001-26-000011", "0000831001-26-000045" ], "derivation": "full-year 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025" }, "definitions": { "net_interest_income": "Interest earned on loans, securities and other interest-earning assets less interest paid on deposits, borrowings and long-term debt. It is the core of a bank's revenue.", "total_non_interest_revenue": "Fee-based and market-making revenue: commissions and fees, principal transactions, administration and other fiduciary fees, investment gains and other revenue.", "total_revenues_net_of_interest_expense": "Citigroup's headline revenue measure: net interest income plus total non-interest revenue. It is already net of interest expense, so it is not comparable with an industrial company's gross revenue.", "total_provisions_for_credit_losses_and_benefits_and_claims": "The charge taken against earnings for expected credit losses on loans, securities, unfunded commitments and other assets, plus policyholder benefits and claims.", "total_operating_expenses": "All non-interest expense: compensation and benefits, technology and communications, transactional and product servicing, premises, professional services, advertising, restructuring and other operating costs.", "net_income": "Citigroup's net income, after tax and after earnings attributable to noncontrolling interests.", "net_income_available_to_common": "Net income less preferred stock dividends. This is the numerator of earnings per common share.", "efficiency_ratio_percent": "Total operating expenses as a percentage of total revenues, net of interest expense. Lower is better.", "return_on_tangible_common_equity_percent": "RoTCE: annualized net income available to common shareholders as a percentage of average tangible common equity. A non-GAAP measure Citi defines and reports.", "tangible_common_equity": "Common stockholders' equity less goodwill and identifiable intangible assets other than mortgage servicing rights. A non-GAAP measure Citi defines and reports.", "tangible_book_value_per_share": "Tangible common equity divided by common shares outstanding. A non-GAAP measure Citi defines and reports.", "cet1_capital_ratio_percent": "Common Equity Tier 1 capital as a percentage of risk-weighted assets: the binding regulatory capital constraint for a large U.S. bank.", "supplementary_leverage_ratio_percent": "Tier 1 capital as a percentage of total leverage exposure, a non-risk-weighted capital measure.", "net_interest_margin_percent": "Annualized net interest income (including the taxable-equivalent gross-up Citi applies) divided by average interest-earning assets.", "allowance_for_credit_losses_on_loans": "The reserve held against expected losses in the loan book. Reported here as a positive balance; the balance sheet prints it as a deduction from loans.", "loans_net_of_unearned_income": "End-of-period loans before deducting the allowance for credit losses.", "total_loans_net_of_allowance": "End-of-period loans after deducting the allowance for credit losses.", "segments": "Citigroup's reportable business segments, at the revenue and income-from-continuing-operations lines the company reports for each.", "all_other_divestiture_related_impacts": "The reconciling line Citigroup reports between its managed-basis segment results and its consolidated income statement, holding the effects of the Asia consumer and Banamex divestitures. Including it makes the segment lines add up exactly to the consolidated totals." }, "headline": { "period": "Q2 FY2026", "period_end_words": "June 30, 2026", "metrics": [ { "label": "Revenue", "format": "usd", "value": 24766000000, "text": "$24.77 billion", "exact": "$24,766,000,000", "compact": "$24.77B", "abs": "$24.77 billion", "prior_value": 21668000000, "prior": "$21.67 billion", "priorabs": "$21.67 billion", "yoy": "up 14.3%", "source": { "array": "quarterly", "field": "income_statement.total_revenues_net_of_interest_expense", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } }, { "label": "Net income", "format": "usd", "value": 5831000000, "text": "$5.83 billion", "exact": "$5,831,000,000", "compact": "$5.83B", "abs": "$5.83 billion", "prior_value": 4019000000, "prior": "$4.02 billion", "priorabs": "$4.02 billion", "yoy": "up 45.1%", "source": { "array": "quarterly", "field": "income_statement.net_income", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } }, { "label": "Diluted EPS", "format": "eps", "value": 3.15, "text": "$3.15", "exact": "$3.15", "compact": "$3.15", "abs": "$3.15", "prior_value": 1.96, "prior": "$1.96", "priorabs": "$1.96", "yoy": "up 60.7%", "source": { "array": "quarterly", "field": "income_statement.diluted_eps", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } }, { "label": "Net interest income", "format": "usd", "value": 17125000000, "text": "$17.12 billion", "exact": "$17,125,000,000", "compact": "$17.12B", "abs": "$17.12 billion", "prior_value": 15175000000, "prior": "$15.18 billion", "priorabs": "$15.18 billion", "yoy": "up 12.9%", "source": { "array": "quarterly", "field": "income_statement.net_interest_income", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } }, { "label": "Efficiency ratio", "format": "pct", "value": 57.4, "text": "57.4%", "exact": "57.4%", "compact": "57.4%", "abs": "57.4%", "prior_value": 62.7, "prior": "62.7%", "priorabs": "62.7%", "yoy": "down 5.3 points", "source": { "array": "quarterly", "field": "ratios_and_capital.efficiency_ratio_percent", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } }, { "label": "Return on tangible common equity", "format": "pct", "value": 13, "text": "13.0%", "exact": "13.0%", "compact": "13.0%", "abs": "13.0%", "prior_value": 8.7, "prior": "8.7%", "priorabs": "8.7%", "yoy": "up 4.3 points", "source": { "array": "quarterly", "field": "ratios_and_capital.return_on_tangible_common_equity_percent", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } }, { "label": "CET1 capital ratio", "format": "pct", "value": 12.78, "text": "12.8%", "exact": "12.8%", "compact": "12.8%", "abs": "12.8%", "prior_value": 13.48, "prior": "13.5%", "priorabs": "13.5%", "yoy": "down 0.7 points", "source": { "array": "quarterly", "field": "ratios_and_capital.cet1_capital_ratio_percent", "index": 3, "period_label": "Q2 2026", "period_end": "2026-06-30", "period_start": "2026-04-01", "span_days": 90, "source_accession": "0000831001-26-000045", "prior_index": 1, "prior_period_label": "Q2 2025", "prior_period_end": "2025-06-30", "prior_period_start": "2025-04-01", "prior_span_days": 90, "prior_source_accession": "0000831001-26-000045", "gap_days": 365 } } ], "summary": "Citigroup reported $24.77 billion of revenue, net of interest expense, in Q2 FY2026, the quarter ended June 30, 2026, up 14.3% from a year earlier, and net income of $5.83 billion, up 45.1%, or $3.15 per diluted share against $1.96 in the same quarter last year. Net interest income reached $17.12 billion, up 12.9%, non-interest revenue grew faster still, and revenue rose at all five of Citigroup's businesses. Operating expenses grew far more slowly than revenue, cutting the efficiency ratio to 57.4% from 62.7% and lifting return on tangible common equity to 13.0% from 8.7%. Citigroup closed the quarter with a Common Equity Tier 1 capital ratio of 12.8%, down 0.7 points from a year earlier and still above its regulatory requirement, while it kept repurchasing stock and announced plans to raise the quarterly common dividend.", "qa": [ { "q": "How much did Citigroup earn in Q2 FY2026?", "a": "Citigroup earned $5.83 billion of net income in Q2 FY2026, the quarter ended June 30, 2026, or $3.15 per diluted share. That is up 45.1% from $4.02 billion in the same quarter a year earlier, when diluted earnings per share were $1.96." }, { "q": "What was Citigroup's revenue in Q2 FY2026?", "a": "Citigroup reported $24.77 billion of revenue, net of interest expense, in Q2 FY2026, up 14.3% from $21.67 billion a year earlier. Net interest income, the largest piece, was $17.12 billion, up 12.9%." }, { "q": "What is Citigroup's return on tangible common equity?", "a": "Citigroup's return on tangible common equity was 13.0% in Q2 FY2026, the quarter ended June 30, 2026, compared with 8.7% in the same quarter a year earlier. Its efficiency ratio, the share of revenue consumed by operating expenses, improved to 57.4% from 62.7% over the same span." }, { "q": "What is Citigroup's CET1 capital ratio?", "a": "Citigroup reported a Common Equity Tier 1 capital ratio of 12.8% at June 30, 2026, against 13.5% a year earlier. Citigroup states that it remained above its regulatory capital requirements and well capitalized." } ] }, "company_details": { "Name": "Citigroup Inc", "Ticker": "C", "CIK": "0000831001", "Exchange": "NYSE", "State": "New York", "Incorporation": "Delaware", "SIC": "6021", "Office": "Finance", "Industry": "National Commercial Banks" }, "next_filing": { "predicted_date": "2026-11-05", "predicted_type": "10-Q" }, "fiscal_period": { "fiscal_year": 2026, "fiscal_period": "Q2", "tag": "FY26Q2", "period_end": "2026-06-30", "form": "10-Q", "accession": "0000831001-26-000045", "fiscal_year_end": "1231", "source": "derived" } }