Citigroup Reports $5.2 Billion Q3 Profit as Revenue Climbs 8%

Citigroup posted $5.245 billion in third-quarter net income as revenue rose 8% year over year, highlighting stronger Services activity alongside higher credit-loss provisions and reserve building.

Diluted EPS reached $2.85, up from $1.86 in the year-earlier quarter. Revenue increased to $23.845 billion from $22.090 billion.

The comparison was affected by a $726 million goodwill impairment recorded in the third quarter of 2025, which had a $714 million after-tax impact. Excluding that charge, prior-year net income was $4.5 billion and diluted EPS was $2.24.

Services was the bank’s largest clearly identified growth contributor. Revenue increased 15% to $6.614 billion, while Services net income rose 27% to $2.637 billion.

Treasury and Trade Solutions revenue climbed 16% to $4.902 billion, and Securities Services revenue rose 13% to $1.712 billion. Cross-border transaction value increased 10%, commercial card spending grew 10% and assets under custody or administration rose 16% to $35 trillion.

Citigroup’s loans increased 12% to $820 billion, while deposits rose 9% to $1.505 trillion.

The provision for credit losses increased 6% to $2.586 billion. It included $2.217 billion in net credit losses and a $333 million net build in the allowance for credit losses, reflecting changes in the macroeconomic outlook and portfolio growth.

Total operating expenses fell 2% to $13.952 billion. Excluding the prior-year goodwill impairment, expenses increased 3%.

Citigroup returned $4.1 billion to common shareholders through dividends and share repurchases. Book value per share was $115.61, while tangible book value per share was $101.59.

The preliminary Common Equity Tier 1 capital ratio was 12.8% at Sept. 30, unchanged from the previous quarter. The supplementary leverage ratio was 5.0%, down from 5.2%.

“Our performance in the quarter, which included the best third-quarter revenue in a decade, positive operating leverage and meaningful improvement in our returns, reflects the continued disciplined and consistent execution of our strategy,” Citi Chair and CEO Jane Fraser said.

The bank distributed over $4 billion to common shareholders as it continued investing in growth and artificial-intelligence initiatives.

The earnings release was dated Oct. 13, 2026. Citigroup scheduled the results for approximately 8 a.m. ET (12:00 UTC), followed by a review at approximately 11 a.m. ET (3:00 p.m. UTC).