Citigroup reported second-quarter 2026 net income of $5.8 billion, or $3.15 per diluted share, on total revenues of $24.8 billion, representing a 45% increase in net income and a 14% rise in revenues versus the year-ago quarter. The bank returned approximately $5.0 billion to common shareholders via share repurchases and dividends and raised planned dividend by 12% while launching a $30 billion buyback program. Citigroup also reported a preliminary Common Equity Tier 1 capital ratio of 12.8% and book value per share of $114.74 at quarter end.

Financial Highlights

  • Total revenues: $24.8 billion in 2Q26, up 14% year-over-year.
  • Citigroup net income: $5.8 billion in 2Q26, up 45% year-over-year; diluted EPS $3.15.
  • Total operating expenses: $14.2 billion in 2Q26, up 5% year-over-year; efficiency ratio 57.4%.
  • Total provision for credit losses: $2.5 billion in 2Q26; net credit losses $2.4 billion and net ACL build $102 million reported in the quarter.
  • Capital and per-share metrics: CET1 ratio 12.8% (preliminary); book value per share $114.74; tangible book value per share $100.89.

Business Highlights

  • Revenue growth across businesses: Four of five core businesses delivered double-digit revenue growth; Services, Markets, Banking and Wealth contributed strongly to firmwide revenue gains.
  • Services momentum: Treasury & Trade Solutions and Securities Services produced record quarterly revenue for Services with expanded cross-border transaction value, higher U.S. dollar clearing volume and AUC/AUA growth.
  • Markets strength: Equity markets revenue rose sharply (45% YoY) driven by derivatives and prime services; fixed income activity saw gains in spread products and FX.
  • Banking deal activity: Investment Banking revenues increased notably, with DCM and ECM strength supporting higher underwriting revenues and elevated investment banking volumes.
  • U.S. Consumer Cards dynamics: Continued loan and spend growth with higher new account acquisitions and increased credit card spend, alongside elevated investments in partner payments and acquisition costs impacting non-interest revenue.

Original SEC Filing:

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