Citigroup tops estimates as loan loss provisions come in lighter than expected

Summary

CNBC's Leslie Picker reports on Citigroup's fourth-quarter earnings. Results were impacted by the sale of remaining Russia operations, but the firm posted record full-year revenue across its five businesses and guided NII ex-markets to grow 5-6% in 2026. Investment banking fees surged 35%, while markets revenue was slightly lower. Management reaffirmed a 10-11% ROTCE target, and shares traded near the flat line.

• Citi reported Q4 results with shares volatile near the flat line.
• Russia sale hit EPS by $0.62 and revenue by $1.2 billion.
• NII rose 8% to $12.8 billion; 2026 ex-markets NII growth guided to 5-6%.
• All five Citi businesses generated record full-year 2025 revenue.
• Investment banking fees surged 35%, while markets revenue fell 1%.
• Services rose 15%, wealth 7%, and U.S. personal banking 3%.
• Q4 ROTCE was 5.1%, or 7.7% excluding the Russia sale.
• CEO Jane Fraser reaffirmed a 10-11% ROTCE target.