Citi Q1 2024 Earnings Report

Citigroup's Q1 2024 net income was $3.4 billion, with revenues of $21.1 billion, reflecting a decrease in both compared to the prior-year period, driven by higher expenses and cost of credit, partially offset by growth in Banking, US Personal Banking, and Services.

Key Takeaways

Citigroup reported a net income of $3.4 billion, or $1.58 per diluted share, on revenues of $21.1 billion for Q1 2024. Revenues decreased by 2% year-over-year, but increased by 3% excluding divestiture-related impacts. The results were driven by growth in Banking, U.S. Personal Banking, and Services, offset by declines in Markets and Wealth. The company returned $1.5 billion to common shareholders through dividends and share repurchases and increased its CET1 ratio to 13.5%.

Citigroup's Q1 2024 revenues decreased by 2% year-over-year to $21.1 billion, but increased 3% excluding divestiture impacts.

Net income for Q1 2024 was $3.4 billion, or $1.58 per diluted share, down from $4.6 billion in the prior-year period.

The company returned $1.5 billion to common shareholders through dividends and share repurchases.

Growth was driven by Banking, U.S. Personal Banking and Services, while Markets and Wealth experienced declines.

Total Revenue

$21.1B

Previous year: $21.4B