C targets higher profitability through 2031 as cost cuts, AI-driven productivity and $30B buybacks support its turnaround strategy.
CEO Jane Fraser has cleaned up some big problems. Now it's time for the bank to show it can excel.
Citi's Thursday (May 7) Investor Day presentation sketched out a bank betting on a technology-driven growth strategy, with executives demonstrating that artificial intelligence (AI) is now moving from back-office experimentation into a core operating layer across cards, payments, wealth management and consumer banking.
Chief Executive Jane Fraser says at the bank's first investor day in four years that Citi has “rebuilt the engine.”
Banking giant Citi has debuted a platform to let it launch artificial intelligence agents throughout the company.
Vis Raghavan was hired by Citigroup in 2024 as its head of banking, just days after JPMorgan Chase told him he had no long-term future at the firm.
Citigroup raised its global artificial intelligence market forecast, citing faster-than-expected enterprise adoption of artificial intelligence tools for coding and automation, with companies such as Anthropic showing strong revenue growth.
C posts decade-high Q1 revenues, as trading, banking and broad-based growth power its turnaround and boost outlook.
The market has shifted to a risk-on environment as Iran opens the Strait of Hormuz, boosting tech and speculative stocks. Tech standouts like ORCL, AMD, PLTR, MSFT, and MU posted double-digit weekly gains, reversing earlier YTD declines amid easing geopolitical tensions.
The World Bank Group's private-sector arm, the International Finance Corporation, and U.S. bank Citigroup have signed a new 1.6 billion rand ($98 million) borrowing facility aimed at expanding local-currency financing in South Africa, the IFC and Citigroup said on Tuesday.
C's Q1 earnings beat estimates on higher NII and strong revenue growth, lifting the stock despite rising expenses, credit costs and weaker capital ratios.
Citigroup Inc (NYSE:C) reported first-quarter profit that rose sharply from a year earlier and topped Wall Street estimates, helped by stronger trading performance and steady growth across its core businesses. The bank said revenue rose 14% to $24.63 billion, above analysts' expectations of $23.51 billion, while earnings per share came in at $3.06, compared with estimates of $2.63.