Citigroup Reports Highest Quarterly Revenue in a Decade

Citigroup recorded its highest quarterly revenue in a decade in April 2026, with all five divisions posting gains. 1 percent in the first quarter, the highest level since 2021. Citi stock has risen about 83 percent since Jane Fraser became chief executive in 2021.

8 percent through May 2026, outpacing JPMorgan Chase, Wells Fargo, and Bank of America but trailing the S&P 500’s 8 percent gain. Fraser presented medium-term targets of 14 percent to 15 percent return on tangible common equity by 2031 at Citi’s investor day on May 7 at the bank’s Tribeca headquarters. 2 percent that day.

The bank will cut 20,000 jobs by the end of 2026 and has exited retail banking in 14 markets, including Russia, China, and Mexico. Fraser said the moves are intended to focus Citi on cross-border institutional clients, global wealth management, and domestic consumer banking. Citi has largely resolved regulatory reporting issues and reduced management layers under Fraser.

AI-assisted code reviews have freed 100,000 hours of engineering capacity each week. Fraser joined President Trump and other chief executives on a trip to China in May 2026. She told employees in January that staff would be judged on results rather than effort and wrote that a “more disciplined, more confident, winning Citi” should emerge in 2026.

A former managing director filed a lawsuit in January 2026 accusing wealth chief Andy Sieg of harassment. Citi said the suit has no merit and stood by Sieg after an internal review. Fraser worked at McKinsey before joining Citi and served as global head of strategy and M&A during the 2008 financial crisis, when the bank sold nearly a trillion dollars in assets and cut 100,000 jobs.

Citi’s market value stood at $215 billion in May 2026. S. government.

She said the decision reflected the need to maintain government contracts during the Trump administration.