NEW YORK, April 14, 2026 — Citigroup reported stronger-than-expected results for the first quarter of 2026 on Tuesday, supported by a sharp rise in trading activity and steady progress in its ongoing turnaround strategy.
The bank posted earnings per share of $3.06, surpassing analyst estimates of $2.65, while revenue increased to $24.63 billion, ahead of expectations and marking the strongest quarterly revenue performance in roughly a decade.
Net income rose to $5.8 billion, compared with $4.1 billion in the same period last year, reflecting a 56% year-over-year increase in earnings per share.
The improvement highlights both stronger operating performance and favorable market conditions.
A key driver of the results was Citi’s markets division, which benefited from heightened volatility across global financial markets.
Fixed income trading recorded solid gains, while equities revenue surged nearly 40%, reflecting increased client participation and risk repositioning activity.
The bank’s services business also delivered steady growth, supported by stronger institutional flows and cross-border activity.
Investment banking results were mixed, though equity underwriting showed relative strength during the quarter.
Profitability strengthened further, with return on tangible common equity (ROTCE) rising to 13.1%, above Citi’s long-term target range of 10% to 11%.
Chief Executive Jane Fraser said the performance reflects continued progress in simplifying operations and completing key transformation initiatives, with most programs now near completion.
However, higher credit provisions and increased expenses weighed slightly on results. Credit loss reserves rose to $2.81 billion, reflecting stress in consumer credit portfolios, while operating costs increased due to restructuring charges and foreign exchange impacts.
Despite these headwinds, Citi continues to show momentum as one of the stronger-performing global banks this year, supported by both improved profitability metrics and a more active trading environment.
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