Citigroup Inc. Reports Strong Q2 2025 Financial Results

Citigroup Inc. has released its financial results for the second quarter of 2025, showcasing robust performance across various business segments. The company reported significant growth in revenue and net income, driven by strong results in its Services, Markets, Banking, and Wealth divisions.

Financial Highlights

For the second quarter of 2025, Citigroup reported net income of $4.0 billion, or $1.96 per diluted share, on revenues of $21.7 billion. This marks an increase from the second quarter of 2024, where the company reported net income of $3.2 billion, or $1.52 per diluted share, on revenues of $20.0 billion. The revenue growth of 8% was driven by increases across all five of Citigroup's interconnected businesses, with notable performance in Services and Markets.

Business and Operational Highlights

Citigroup's Services division reported revenues of $5.1 billion, up 8% year-over-year, driven by growth in Treasury and Trade Solutions and Securities Services. The Markets division saw a 16% increase in revenues to $5.9 billion, with Fixed Income markets revenues up 20% and Equity markets revenues up 6%. The Banking division's revenues increased by 18% to $1.9 billion, driven by growth in Corporate Lending and Investment Banking.

Wealth revenues grew by 20% to $2.2 billion, with significant contributions from Citigold, the Private Bank, and Wealth at Work. U.S. Personal Banking (USPB) revenues increased by 6% to $5.1 billion, driven by growth in Branded Cards and Retail Banking.

Strategic Initiatives and Corporate Developments

During the quarter, Citigroup returned approximately $3.1 billion to common shareholders through dividends and share repurchases. The company also reported a book value per share of $106.94 and a tangible book value per share of $94.16, reflecting increases of 7% and 8%, respectively, from the prior-year period.

Management's Perspective

Citi CEO Jane Fraser commented on the results, stating, "We reported another very good quarter and continue to demonstrate that our strong results are sustainable through different environments. We’re improving the performance of each of our businesses to take share and drive higher returns. With revenue up 8%, Services continues to show why this high-return business is our crown jewel."

Fraser also highlighted the company's capital return strategy, noting, "We returned $3 billion in capital during the quarter, including $2 billion in share repurchases as part of our $20 billion repurchase plan. I’m particularly pleased that the momentum across our franchise includes the Transformation, as we streamline processes, drive automation and deploy AI."

Future Outlook

Looking ahead, Citigroup remains focused on achieving its 10-11% ROTCE target for next year, viewing it as a waypoint rather than a destination. The company aims to drive returns above that level and continue creating value for shareholders through strategic actions and investments in technology and transformation initiatives.

SEC Filing: CITIGROUP INC [ C ] - 8-K - Jul. 15, 2025