Citigroup recorded net profit of US$5.83 billion in the second quarter of 2026, an increase of 45% compared to the same period last year. Diluted earnings per share (EPS) rose to $3.15 from $1.96 a year earlier.
Citigroup beats projections, but sees 'headwinds' in credit card division
Citigroup recorded net profit of US$5.83 billion in the second quarter of 2026, an increase of 45% compared to the same period last year. Diluted earnings per share (EPS) rose to $3.15 from $1.96 a year earlier. The result exceeded the...
Revenue totaled US$ 24.8 billion in the quarter, an increase of 14% in the annual comparison and above the projection of US$ 23.74 billion. The performance was driven by the growth of the bank's five main business lines.
- Operating expenses increased 5% to US$14.2 billion, while the provision for credit losses fell 12% to US$2.5 billion, reflecting lower reserves.
- In a statement, CEO Jane Fraser said Citi reported its highest quarterly revenue in a decade, with double-digit growth in four of its five main business units.
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The result exceeded the expectations of analysts consulted by FactSet, who predicted a profit of US$2.74 per share.
Revenue totaled US$ 24.8 billion in the quarter, an increase of 14% in the annual comparison and above the projection of US$ 23.74 billion. The performance was driven by the growth of the bank's five main business lines.
Operating expenses increased 5% to US$14.2 billion, while the provision for credit losses fell 12% to US$2.5 billion, reflecting lower reserves.
In a statement, CEO Jane Fraser said Citi reported its highest quarterly revenue in a decade, with double-digit growth in four of its five main business units.
According to her, the greater generation of results will allow the planned dividend to be increased by 12% and support a new share buyback program worth US$30 billion.
“The combination of our investments, disciplined execution and customer focus is improving our returns and creating longer-lasting results for our investors,” he said.
During the quarter, the bank returned approximately $5 billion to shareholders through share repurchases and dividend payments.
Despite the robust performance, Citigroup stated that it continues to face “short-term headwinds” in its credit card operations in the United States, due to investments in business expansion.
The cards division recorded revenue growth of just 1%, while expenses increased by 10%. The bank projects that net credit card losses in the United States will be between 4% and 4.5% in 2026.
At 9:16 am, Brasília time, Citigroup shares fell 1.85% in New York pre-market.
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