Business · Companies · 11 hrs ago
Citigroup’s third-quarter profit rises 40% from a year earlier
Citigroup earned $5.25 billion in the third quarter, up 40% from the same period last year.
The US bank said stronger investment banking, corporate transactions and wealth management helped lift its results.
Net income was 10% lower than in the second quarter, while trading revenue fell 13% from that quarter.
Higher bond yields and market volatility have raised concerns that borrowing costs could curb lending and deal-making.
Chief Executive Jane Fraser said the bank expects to beat its 11% return target for the year and aims for sustainable returns of 14% to 15%.
The supplied headline describes a separate aircraft-engine platform involving GFH and Bridgepoint, so it does not match the Citigroup results in the text.
Citigroup’s third-quarter net profit rose 40% from a year earlier to $5.25 billion, or $2.85 per share.
Revenue increased 8% to $23.85 billion, above analysts’ expectations of $23.72 billion.
The profit beat analysts’ estimate of $2.65 per share and was Citigroup’s best third quarter in 10 years.
The year-on-year increase was supported by higher investment banking and services revenue, as well as growth in wealth management.
Net income fell 10% from the second quarter.
- Who
- Citigroup, the US bank.
- What
- Its third-quarter net profit rose 40% year on year to $5.25 billion.
- When
- The results were announced on Tuesday, October 13, 2026, for the three months ended September 30.
- Where
- The United States.
- Why
- Growth in investment banking, services and wealth management supported results. The comparison also followed charges a year earlier related to the launch of Banamex’s liquidation plan.
This story does not have two clearly opposing sides.
Citigroup incurred charges ahead of the launch of the Banamex liquidation plan.
The three-month period covered by Citigroup’s third-quarter results ended.
Citigroup announced third-quarter net profit of $5.25 billion.
- Net profit
- $5.25 billion, up 40% year on year
- Earnings per share
- $2.85
- Revenue
- $23.85 billion, up 8% year on year
- Net income change
- Down 10% from the second quarter
- Return on tangible common equity
- 11.5% in the third quarter
4 sources
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What people are saying
We expect to exceed this year's return target, even with some investments brought forward, to support our near-term goal of 11% to 13%, as a new milestone on the path to sustainable returns of 14% to 15%.