C changes
Pick any two versions below to diff them.
- Price
- $119.05 → $124.21(+4.3%)
- Risks
- Citigroup still works under the 2020 consent orders with the Federal Reserve and the OCC on risk management, data and controls. In July 2024, the regulators added civil money penalties because remediation was too slow. More problems can bring penalties, limits on growth or higher capital requirements. Card losses can rise in a weaker economy. The U.S. Consumer Cards provision was $1.9 billion in Q3 2026, including a reserve build of $208 million. The CET1 ratio was 12.8% at September 30, 2026, only about 120 basis points above the requirement of 11.6%. A higher stress capital buffer or new capital rules can limit buybacks. The timing of the Banamex IPO depends on markets and regulatory approvals. Until Citigroup exits, results include Mexican consumer credit losses and costs. added: When Citigroup deconsolidates Banamex, which it expects in early 2027, it will record about $9 billion of currency translation losses in net income. Citigroup says that this loss does not change its regulatory capital, but it lowers reported earnings in that quarter. Markets and Banking revenues move with trading and deal activity, which can fall quickly.
- Checkpoints
- Jan 14, 2027: Q4 2026 results: returns and 2027 outlook. Pending. Watch: A 2026 RoTCE above the 10% to 11% target and a 2027 outlook in the 11% to 13% range pass; lower returns or higher expenses fail. added: Q1 2027 (estimate): Banamex deconsolidation. Pending. Watch: Deconsolidation in early 2027 with a CET1 ratio that stays near the 12.6% target passes; a long delay or a capital effect larger than the company said fails. Jun 2027 (estimate): 2027 stress test and new stress capital buffer. Pending. Watch: A stress capital buffer at or below 3.6% from January 1, 2028 passes; a higher buffer that limits buybacks fails.
- Recent events
- added: Nov 5, 2026: In its Q3 2026 10-Q, Citigroup said that it expects to deconsolidate Banamex in early 2027, although the timing can change. It will then record in earnings about $9 billion of currency translation losses, net of hedges and taxes, that sit in equity at September 30, 2026. Citigroup said that these losses do not change its regulatory capital and that the change has a slightly positive effect on its CET1 ratio. Oct 13, 2026: Citigroup reported Q3 2026 results. Net income was $5.2 billion and EPS was $2.85, up from $1.86 a year earlier, when a goodwill impairment related to Banamex lowered results. Revenues grew 8% to $23.8 billion, and Services revenues grew 15%. RoTCE was 11.5%, and the CET1 ratio was 12.8%. Citigroup returned $4.1 billion to shareholders and said that it expects to exceed its 2026 return target. added: Aug 11, 2026: Citigroup sold 1.4% more of Banamex's common stock, the last part of the 24% stake that investors had agreed to buy. After the sale, Citigroup owned 51% of the voting stock of Banamex. Jul 14, 2026: Citigroup reported Q2 2026 results. Net income was $5.8 billion on revenues of $24.8 billion, and RoTCE was 13.0%. May 7, 2026: At its Investor Day, Citigroup set a RoTCE range of 11% to 13% for 2027 and 2028 and a path to 14% to 15% over the medium term. It expects an efficiency ratio of about 60% in 2026 and 55% to 60% in the near term. The board approved a multiyear share buyback program of $30 billion. Feb 18, 2026: Citigroup signed and closed the sale of AO Citibank, its remaining business in Russia, to Renaissance Capital. It had recorded a pre-tax loss of about $1.2 billion on the sale, mostly in Q4 2025, after its board approved the sale plan on December 29, 2025.