Citi: net income up 37% in 2024

(CercleFinance.com) - Citigroup reports net income of $12.
6bn for FY 2024, up 37% on 2023, with EPS of $5.94. The company's net banking income was $81.1bn, up 3%, while its CET1 ratio rose from 13.4% to 13.6%.

Net banking income was $81.1bn, up 3%, and the CET1 ratio rose from 13.4% to 13.6%.

In Q4 2024, the US bank posted net income of $2.85bn, a far cry from the $1.84bn loss recorded in the same period a year earlier. Quarterly EPS thus came to $1.84.

In Q4, Citigroup's net banking income came to $19.5bn, up 12%.

2024 was a crucial year, and our results show that our strategy is working as planned and improving the performance of our businesses, Citi's Chief Executive Officer, Jane Fraser, said.

While we now expect our RoTCE (return on tangible equity) to reach between 10% and 11% by 2026, in order to make further investments in our businesses and Transformation, this level is a milestone, not an endpoint. We intend to improve our returns well beyond this threshold and realize Citi's full potential for our shareholders, she concluded.


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