Citigroup reported net income of $12.7 billion, or $5.94 per share, for 2024, compared to $9.2 billion, or $4.04 per share, in the prior year, an increase of 37%. Revenues were $81.1 billion, up 3%, and operating expenses were $54.0 billion, down 4%.

1. 01

   Citigroup reported net income of $12.7 billion, or $5.94 per share, for 2024, compared to $9.2 billion, or $4.04 per share, in the prior year, an increase of 37%. Revenues were $81.1 billion, up 3%, and operating expenses were $54.0 billion, down 4%.

2. 02

   The company said provisions for credit losses and for benefits and claims for 2024 were $10.1 billion, compared to $9.2 billion in the prior year. Net credit losses were $9.0 billion, up 40%, and the company cited higher net credit loss rates in Branded Cards and Retail Services as factors.

3. 03

   Citigroup's CET1 capital ratio was 13.6% as of December 31, 2024, compared to 13.4% as of the prior year. In 2024, the company returned $6.7 billion to common shareholders in the form of dividends of $4.2 billion and share repurchases of $2.5 billion.

4. 04

   On January 13, 2025, Citigroup's Board of Directors authorized a new, multiyear $20 billion common stock repurchase program, beginning in Q1 2025. The company plans to repurchase $1.5 billion during Q1 2025, and after that will assess the level of common share repurchases on a quarter-by-quarter basis.

Key figures

Fiscal year ended December 31, 2024

Revenue

$81.1B

Net income

$12.7B

EPS

$5.94

Operating cash flow

−$19.7B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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