Revenue growth is accelerating with net interest income reaching $15.7 billion in 2026Q1, though the efficiency ratio remains elevated at 32.3% due to ongoing infrastructure investments.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 61.52B | 59.79B | 54.09B | 54.9B | 48.67B | 42.49B | 44.75B | 48.13B | 46.56B | 45.06B | 45.48B | 46.63B | 47.99B | 46.79B | 46.69B | 47.65B | 54.19B | 48.5B | 53.75B | 45.39B | 37.93B | 39.25B | 41.62B | 39.78B | 37.69B | 32.69B | 26.29B | 26.32B | 23.84B | 17.58B | 16.46B |
| NII Growth % | 50.68% | 10.53% | -1.47% | 12.81% | 14.53% | -5.04% | -7.02% | 3.36% | 3.33% | -0.91% | -2.47% | -2.84% | 2.56% | 0.23% | -2.02% | -12.06% | 11.73% | -9.77% | 18.42% | 19.67% | -3.36% | -5.7% | 4.63% | 5.53% | 15.29% | 24.35% | -0.1% | 10.36% | 35.65% | 6.77% | 348.92% |
| Net Interest Margin % | 2.21% | 2.25% | 2.3% | 2.28% | 2.01% | 1.85% | 1.98% | 2.47% | 2.43% | 2.45% | 2.54% | 2.69% | 2.61% | 2.49% | 2.5% | 2.54% | 2.83% | 2.61% | 2.77% | 2.07% | 2.01% | 2.63% | 2.8% | 3.15% | 3.43% | 3.11% | 2.91% | 3.31% | 3.57% | 2.52% | 4.76% |
| Interest Income | 144.71B | 142.86B | 143.71B | 133.26B | 74.41B | 50.48B | 58.09B | 76.51B | 70.83B | 61.58B | 57.99B | 58.55B | 61.68B | 62.97B | 67.3B | 71.86B | 79.28B | 76.4B | 106.5B | 121.35B | 93.61B | 75.92B | 63.62B | 57.05B | 58.94B | 64.48B | 62.75B | 54.99B | 54.54B | 42.1B | 37.8B |
| Interest Expense | 83.19B | 83.07B | 89.62B | 78.36B | 25.74B | 7.98B | 13.34B | 28.38B | 24.27B | 16.52B | 12.51B | 11.92B | 13.69B | 16.18B | 20.61B | 24.21B | 25.1B | 27.9B | 52.75B | 75.96B | 55.68B | 36.68B | 22B | 17.27B | 21.25B | 31.79B | 36.46B | 28.67B | 30.69B | 24.52B | 21.34B |
| Loan Loss Provision | 10.15B | 10.25B | 9.97B | 9.12B | 5.11B | -3.89B | 17.38B | 8.31B | 7.47B | 7.34B | 6.78B | 7.18B | 6.67B | 7.68B | 10.44B | 11.39B | 25.08B | 39B | 33.31B | 16.98B | 6.57B | 8.18B | 6.23B | 8.05B | 9.99B | 6.8B | 5.34B | 4.76B | 4.26B | 2.2B | 2.2B |
| Non-Interest Income | 26.48B | 25.44B | 26.99B | 22.12B | 25.81B | 29.39B | 30.74B | 26.94B | 26.29B | 27.38B | 25.32B | 29.72B | 29.23B | 29.93B | 22.5B | 29.68B | 32.41B | 31.79B | -1.65B | 31.91B | 48.4B | 44.4B | 38.02B | 37.67B | 33.62B | 34.68B | 37.28B | 39.41B | 31.39B | 30.2B | 27.3B |
| Non-Interest Income % | 15.47% | 15.11% | 15.81% | 14.24% | 25.76% | 36.8% | 34.61% | 26.04% | 27.07% | 30.78% | 30.39% | 33.67% | 32.15% | 32.22% | 25.06% | 29.23% | 29.02% | 29.38% | -1.58% | 20.82% | 34.08% | 36.9% | 37.4% | 39.77% | 36.32% | 34.97% | 37.27% | 41.75% | 36.53% | 41.77% | 41.94% |
| Total Revenue | 171.19B | 168.3B | 170.71B | 155.38B | 100.22B | 79.87B | 88.83B | 103.45B | 97.12B | 88.96B | 83.31B | 88.28B | 90.91B | 92.9B | 89.8B | 101.54B | 111.7B | 108.19B | 104.85B | 153.26B | 142.01B | 120.32B | 101.64B | 94.71B | 92.56B | 99.16B | 100.03B | 94.4B | 85.92B | 72.31B | 65.1B |
| Revenue Growth % | 7.32% | -1.41% | 9.86% | 55.04% | 25.48% | -10.09% | -14.13% | 6.52% | 9.17% | 6.79% | -5.63% | -2.9% | -2.14% | 3.45% | -11.56% | -9.09% | 3.24% | 3.19% | -31.59% | 7.92% | 18.03% | 18.38% | 7.31% | 2.33% | -6.66% | -0.87% | 5.97% | 9.86% | 18.84% | 11.07% | 138.75% |
| Non-Interest Expense | 55.95B | 55.15B | 54.07B | 54.99B | 50.56B | 48.31B | 44.49B | 42.86B | 41.94B | 42.34B | 42.54B | 44.35B | 55.85B | 49.24B | 50.92B | 51.22B | 48.34B | 49.08B | 71.14B | 59.67B | 51.27B | 46.03B | 50.67B | 43.35B | 40.87B | 40.13B | 38.98B | 43.06B | 40.12B | 35.05B | 30.52B |
| Efficiency Ratio | 32.69% | 32.77% | 31.68% | 35.39% | 50.45% | 60.49% | 50.08% | 41.43% | 43.19% | 47.59% | 51.07% | 50.24% | 61.44% | 53% | 56.71% | 50.45% | 43.28% | 45.37% | 67.85% | 38.94% | 36.1% | 38.26% | 49.85% | 45.77% | 44.15% | 40.47% | 38.96% | 45.62% | 46.69% | 48.47% | 46.89% |
| Operating Income | 21.9B | 19.83B | 17.05B | 12.91B | 18.81B | 27.47B | 13.63B | 23.9B | 23.45B | 22.76B | 21.48B | 24.83B | 14.7B | 19.8B | 7.83B | 14.72B | 13.18B | -7.8B | -52.35B | 646M | 28.49B | 29.43B | 22.74B | 26.05B | 20.45B | 20.43B | 19.26B | 17.9B | 10.86B | 10.54B | 11.04B |
| Operating Margin % | 12.79% | 11.78% | 9.99% | 8.31% | 18.77% | 34.39% | 15.35% | 23.1% | 24.14% | 25.59% | 25.78% | 28.12% | 16.17% | 21.32% | 8.71% | 14.5% | 11.8% | -7.21% | -49.93% | 0.42% | 20.06% | 24.46% | 22.37% | 27.5% | 22.09% | 20.61% | 19.25% | 18.96% | 12.64% | 14.57% | 16.96% |
| Operating Income Growth % | - | 16.32% | 32.04% | -31.36% | -31.53% | 101.5% | -42.96% | 1.94% | 3.01% | 5.98% | -13.49% | 68.87% | -25.76% | 153.06% | -46.85% | 11.67% | 269.05% | 85.1% | -8204.49% | -97.73% | -3.21% | 29.46% | -12.72% | 27.4% | 0.07% | 6.1% | 7.59% | 64.87% | 3.03% | -4.55% | 232.53% |
| Pretax Income | 21.9B | 19.83B | 17.05B | 12.91B | 18.81B | 27.47B | 13.63B | 23.9B | 23.45B | 22.76B | 21.48B | 24.83B | 14.7B | 19.8B | 7.83B | 14.72B | 13.18B | -7.8B | -52.35B | 646M | 28.49B | 29.43B | 22.74B | 26.05B | 20.45B | 20.43B | 19.26B | 17.9B | 10.86B | 10.54B | 11.04B |
| Pretax Margin % | 12.79% | 11.78% | 9.99% | 8.31% | 18.77% | 34.39% | 15.35% | 23.1% | 24.14% | 25.59% | 25.78% | 28.12% | 16.17% | 21.32% | 8.71% | 14.5% | 11.8% | -7.21% | -49.93% | 0.42% | 20.06% | 24.46% | 22.37% | 27.5% | 22.09% | 20.61% | 19.25% | 18.96% | 12.64% | 14.57% | 16.96% |
| Income Tax | 5.61B | 5.37B | 4.21B | 3.53B | 3.64B | 5.45B | 2.52B | 4.43B | 5.36B | 29.39B | 6.44B | 7.44B | 7.2B | 6.19B | 7M | 3.58B | 2.23B | -6.73B | -20.33B | -2.55B | 7.75B | 9.08B | 6.46B | 8.2B | 7B | 7.2B | 7.03B | 6.53B | 3.91B | 3.83B | 3.97B |
| Effective Tax Rate % | 25.62% | 27.1% | 24.7% | 27.33% | 19.37% | 19.84% | 18.52% | 18.53% | 22.85% | 129.12% | 30% | 29.97% | 48.96% | 31.24% | 0.09% | 24.28% | 16.94% | 86.33% | 38.82% | -394.12% | 27.2% | 30.84% | 28.43% | 31.46% | 34.23% | 35.25% | 36.49% | 36.48% | 35.99% | 36.37% | 35.93% |
| Net Income | 15.99B | 14.27B | 12.68B | 9.23B | 14.85B | 21.95B | 11.05B | 19.4B | 18.05B | -6.8B | 14.91B | 17.24B | 7.31B | 13.66B | 7.41B | 11.07B | 10.6B | -1.61B | -27.68B | 3.62B | 21.54B | 24.59B | 17.05B | 17.85B | 15.28B | 14.13B | 13.52B | 11.24B | 6.95B | 6.71B | 6.74B |
| Net Margin % | 9.34% | 8.48% | 7.43% | 5.94% | 14.81% | 27.49% | 12.44% | 18.75% | 18.58% | -7.64% | 17.9% | 19.53% | 8.04% | 14.7% | 8.25% | 10.9% | 9.49% | -1.48% | -26.4% | 2.36% | 15.17% | 20.44% | 16.77% | 18.85% | 16.5% | 14.25% | 13.51% | 11.91% | 8.09% | 9.27% | 10.35% |
| Net Income Growth % | 19.54% | 12.51% | 37.43% | -37.84% | -32.38% | 98.71% | -43.06% | 7.51% | 365.45% | -145.59% | -13.51% | 135.87% | -46.48% | 84.41% | -33.07% | 4.39% | 760.15% | 94.2% | -865.39% | -83.21% | -12.41% | 44.25% | -4.52% | 16.87% | 8.14% | 4.49% | 20.24% | 61.77% | 3.65% | -0.5% | 194.15% |
| Net Income (Continuing) | 16.29B | 14.46B | 12.84B | 9.38B | 15.16B | 22.02B | 11.11B | 19.47B | 18.09B | -6.63B | 15.03B | 17.39B | 7.5B | 13.62B | 7.82B | 11.15B | 10.95B | -1.07B | -32.03B | 3.19B | 20.74B | 20.36B | 16.27B | 17.85B | 13.45B | 13.23B | 12.23B | 11.37B | 6.95B | 6.71B | 7.07B |
| EPS (Diluted) | 9.00 | 6.99 | 5.95 | 4.04 | 7.00 | 10.14 | 4.73 | 8.04 | 6.68 | -2.98 | 4.74 | 5.42 | 2.20 | 4.25 | 2.44 | 3.63 | 3.50 | -8.00 | -56.30 | 6.70 | 43.10 | 47.50 | 32.60 | 34.20 | 29.40 | 27.20 | 26.20 | 21.70 | 13.10 | 29.00 | 12.10 |
| EPS Growth % | 27.49% | 17.48% | 47.28% | -42.29% | -30.97% | 114.38% | -41.17% | 20.36% | 324.16% | -162.87% | -12.55% | 146.36% | -48.24% | 74.18% | -32.78% | 3.71% | 143.75% | 85.79% | -940.3% | -84.45% | -9.26% | 45.71% | -4.68% | 16.33% | 8.09% | 3.82% | 20.74% | 65.65% | -54.83% | 139.67% | 31.52% |
| EPS (Basic) | - | 7.23 | 6.03 | 4.07 | 7.04 | 10.21 | 4.75 | 8.08 | 6.69 | -2.98 | 4.74 | 5.43 | 2.21 | 4.26 | 2.51 | 3.73 | 3.65 | -8.00 | -56.30 | 6.80 | 43.90 | 48.40 | 33.20 | 34.90 | 29.90 | 27.90 | 26.90 | 22.30 | 13.50 | 29.68 | 12.65 |
| Diluted Shares Outstanding | 1.78B | 1.86B | 1.9B | 1.96B | 1.96B | 2.05B | 2.1B | 2.27B | 2.49B | 2.7B | 2.89B | 3.01B | 3.04B | 3.04B | 3.02B | 3B | 2.97B | 1.21B | 576.89M | 492.4M | 498.61M | 516.04M | 520.74M | 519.36M | 516.62M | 514.7M | 512.22M | 512.78M | 514.37M | 231.22M | 234.11M |
Regulatory transformation execution risk
According to recent financial disclosures, Citigroup achieved a notable expansion in net interest income, reaching $15.7 billion in 2026Q1, which represents a significant 12.3% growth rate compared to previous periods, suggesting that the bank is successfully navigating the current interest rate environment and funding cost pressures.
The recent acceleration in NII suggests that the bank's asset-sensitive positioning is beginning to yield tangible benefits despite the competitive deposit landscape. Investors should monitor whether this trajectory is sustainable or if it remains vulnerable to shifts in deposit betas as institutional clients continue to reprice their liquidity requirements.
As reported in quarterly filings, Citigroup's efficiency ratio has hovered near the 32% mark throughout early 2026, reflecting the ongoing, heavy investment in infrastructure and regulatory transformation that continues to weigh on the bank's ability to achieve meaningful operating leverage relative to its global peer group.
While the current efficiency ratio appears stable, the persistent nature of these transformation costs suggests that the bank's operational productivity remains constrained by legacy system complexities. This warrants further investigation into whether these expenditures will eventually taper off or if they represent a permanent structural drag on profitability.
Based on the provided income statement data, Citigroup's provision expense for loan losses reached $2.6 billion in 2026Q1, indicating that the bank is maintaining a cautious stance as credit conditions normalize across its diverse consumer and institutional portfolios following the volatility observed in late 2023.
The consistency of these provision levels suggests a proactive approach to managing credit risk in an uncertain macroeconomic climate. Analysts should interpret these figures as a reflection of management's conservative outlook on potential defaults, particularly within the US retail card segment where normalization trends appear most pronounced.
Data from recent financial statements indicates that non-interest income reached $8.6 billion in 2026Q1, representing 19.5% of total revenue, which highlights the bank's reliance on transactional and market-sensitive activities that can introduce significant earnings volatility compared to more stable, recurring wealth management fee streams.
The fluctuation in fee income suggests that the bank's earnings profile remains heavily influenced by the cyclicality of its Markets division. Investors should consider whether the current composition of fee income provides sufficient stability to offset potential downturns in global trade and investment banking activity.
Quick answers to the most common questions about buying C stock.
Citigroup Inc. (C) is profitable, generating $14.27B in net income for the fiscal year ending 2025 with a net profit margin of 8.5%.
Citigroup Inc. (C) reported an operating income of $19.83B, resulting in an operating profit margin of 11.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Citigroup Inc. (C) generated $74.98B in gross profit for the year, representing a gross profit margin of 44.6%. This demonstrates the company's core pricing power and production efficiency.