Citigroup reported stronger-than-expected first-quarter results, driven by robust performance in its trading business, particularly fixed income.
The bank posted earnings of $3.06 per share and revenue of $24.63 billion, both exceeding Wall Street estimates. This marked Citigroup’s highest quarterly revenue in a decade, with earnings per share rising 56% year on year.
According to CEO Jane Fraser, the bank’s restructuring efforts are nearing completion, with most transformation programs close to target. Profitability also improved, with return on tangible common equity reaching 13.1%, above internal goals.
Citigroup Inc. traders rode a wave of volatility to push the Wall Street bank to its highest quarterly revenue in a decade, notching another success for Chief Executive Officer Jane Fraser’s turnaround plan. https://t.co/oVf1Xge8Ws
— Bloomberg (@business) April 14, 2026
The markets division led the gains, with fixed income revenue rising 13% and equities surging 39%. Services revenue also grew strongly.
However, investment banking performance was mixed, and provisions for credit losses increased due to stress in consumer lending. Higher expenses, including restructuring costs, also weighed on margins.
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TIPP Staff
