Citigroup Inc.
Explore Citigroup Inc.
Core profile pages, annual revenue records, and related research hubs for this company.
CorpDigest
Citigroup Inc.
Explore Citigroup Inc.
Core profile pages, annual revenue records, and related research hubs for this company.
Annual Revenue
FY2025 Revenue
$85.2B
▲ 5.1% vs FY2024 ($81.1B)
Source: Annual report / company filing
Citigroup Inc. reported $85.2B in revenue for fiscal year 2025. This represents a growth of 5.1% compared to the 2024 figure of $81.1B.
In 1998, Sanford 'Sandy' Weill — the relentlessly acquisitive Travelers Group chairman who had already rolled up Primerica, Smith Barney, Salomon Brothers, and Commercial Credit into a financial services conglomerate — engineered a $73 billion merger with Citicorp under CEO John Reed, creating the most valuable financial institution in the United States by market capitalization. The bank required $45 billion in emergency U.S. Treasury bailout funds under the Troubled Asset Relief Program — a larger direct injection than any other single financial institution received — and the federal government briefly held a 36 percent stake in Citigroup's common equity. Operating in more than 160 countries, the bank generates approximately $85.2B in annual revenues and serves multinational corporations, sovereign governments, institutional investors, and retail banking customers across five core business segments. Its Treasury and Trade Solutions division processes an estimated $4 trillion in daily transaction flows, making it the world's leading cross-border corporate payment network — a proprietary infrastructure asset that no competitor has fully replicated. Citigroup's revenue engine is organized, following the sweeping 2023 reorganization Jane Fraser announced in September of that year, around five distinct client-facing businesses that together generated approximately $85.2B in total revenues net of interest expense in fiscal year FY2025. Services, the crown jewel of Citigroup's institutional franchise, generated approximately $19.7 billion in revenues in fiscal year 2024 — the highest of any segment — and encompasses two distinct but complementary businesses: Treasury and Trade Solutions (TTS) and Securities Services. The business processes an estimated $4 trillion in daily payment flows for multinational corporations, sovereign governments, central banks, and institutional clients, providing cash management, liquidity pooling, trade finance, supply chain financing, and cross-border payment execution across more than 160 countries and jurisdictions. Securities Services, TTS's sister business within the Services segment, provides global custody, securities clearing, fund administration, transfer agency, and securities lending to approximately $24 trillion in assets under custody, serving asset managers, pension funds, hedge funds, insurance companies, and sovereign wealth funds that require global multi-asset-class settlement infrastructure. Markets, Citigroup's second major institutional business, generated approximately $19.6 billion in revenues in fiscal year 2024, making it one of the three largest fixed income and equities trading franchises on Wall Street alongside JPMorgan Chase and Goldman Sachs. Banking, the third institutional segment, generated approximately $6.9 billion in revenues in fiscal year 2024 and encompasses Investment Banking — advisory for mergers and acquisitions, equity underwriting, and debt underwriting — alongside Corporate Lending, which provides revolving credit facilities, term loans, and bridge financing to investment-grade and used corporate clients globally. US Personal Banking, the largest revenue contributor by absolute volume at approximately $20.9 billion in fiscal year 2024, encompasses four distinct consumer-facing businesses. Wealth, the fifth and most strategically forward-looking segment from Citigroup's medium-term perspective, generated approximately $7.2 billion in revenues in fiscal year 2024. Three channels compose the segment: Wealth at Work provides banking, investment, and retirement services to employees of institutional corporate clients through workplace banking relationships — an approach that uses Citigroup's corporate banking franchise as a distribution channel for personal financial services; the Citi Private Bank serves ultra-high-net-worth clients with investable assets generally above $25 million, offering investment management, estate planning, lending, and family office services through dedicated relationship teams in major financial centers globally; and Consumer Wealth provides investment advisory and wealth management services to mass affluent clients through retail banking channels, targeting individuals with investable assets typically between $250,000 and $25 million. Citigroup's Treasury and Trade Solutions business processes an estimated $4 trillion in daily payment flows. By 1998, it had grown into Citicorp, which merged with Travelers Group in a $73 billion deal that required Congress to actually repeal Glass-Steagall, the law separating commercial and investment banking since 1933. Citigroup required $45 billion in TARP capital — the largest single injection to any financial institution — and the government briefly held 36 percent of the company's common equity. The 2020 accidental $900 million wire transfer to Revlon creditors, followed by OCC and Federal Reserve consent orders on data management failures, made clear that the operational complexity of the post-merger entity had never been fully resolved. CEO Jane Fraser, who took over in 2021, announced a comprehensive reorganization in September 2023 — five client-facing business segments, 229,000 employees, $85.2B in FY2025 revenue. JPMorgan's domestic retail banking network — approximately 4,800 branches across the United States and a retail deposit base exceeding $1 trillion gathered at structurally low funding costs — provides an economic advantage in consumer banking that Citigroup's deliberately limited U.S. Branch network cannot replicate. Citigroup's revenue has grown steadily from $71.9 billion in 2021 to $85.2B in FY2025, a trajectory that looks modest against the massive restructuring effort but represents genuine progress in reducing drag from non-core assets and improving the TTS and Markets franchises. Net income of $12.7 billion in FY2025 on $85.2B in revenue — a 15.7% net margin — is below where the bank should be structurally. The $130 billion market cap against $12.7 billion in net income implies the market is pricing Citi at roughly 10x earnings — a discount to virtually every large-bank peer. The OCC accompanied its action with a $400 million civil money penalty — the largest the OCC had ever levied at the time — specifically citing the bank's failure to maintain adequate data quality infrastructure and its inability to generate accurate regulatory reports on demand. Citigroup has invested more than $10 billion in transformation spending since 2021 to address the underlying deficiencies, but regulators have consistently signaled that full remediation remains a multi-year undertaking that depends on complex technology implementation across dozens of geographic markets. TTS processes an estimated $4 trillion in daily flows — a figure that approaches four times the daily throughput of the Federal Reserve's Fedwire large-value payment system — and generates an estimated $19.7 billion in annual segment revenues with the highest predictability of any major component of Citigroup's franchise. Citigroup's medium-term financial trajectory is anchored to the specific targets Fraser articulated at the January 2024 investor day: a return on tangible common equity of 11 to 12 percent by 2026, an efficiency ratio approaching 60 percent, and total revenues in the range of $80 to $84 billion. 1812. The New York state legislature charters City Bank of New York with capital of $2 million, naming Samuel Osgood as its first president. The deal's scale — $73 billion, requiring Glass-Steagall's repeal — was a statement about the direction of global finance.
| Year | Revenue | Net Income | YoY Change |
|---|---|---|---|
| FY2025 | $85.2B | — | +5.1% |
| FY2024 | $81.1B | $12.7B | +3.3% |
| FY2023 | $78.5B | $9.2B | +4.2% |
| FY2022 | $75.3B | $14.8B | +4.8% |
| FY2021 | $71.9B | $22.0B | -4.8% |
| FY2020 | $75.5B | $11.0B | +1.6% |
| FY2019 | $74.3B | $19.4B | +2.0% |
| FY2018 | $72.9B | $18.0B | — |
Source: SEC EDGAR filings, annual earnings releases, and verified financial disclosures.