From Yahoo Finance: 2025-04-15 08:07:00

Citigroup’s profit surged in Q1 as traders benefited from volatile markets. Earnings echoed rivals like JPMorgan, Goldman Sachs, and Morgan Stanley. Stock trading increased due to uncertainty over Trump’s tariffs and Chinese startup DeepSeek’s AI model. Citi’s markets revenue rose 12%, with net income reaching $4.1 billion.

CEO Jane Fraser stated, “We continue to help clients navigate an uncertain environment.” The bank posted a 9.1% return on tangible common equity, nearing its target of 10-11%. Divisions led by Viswas Raghavan and Andy Sieg showed improvement. CEOs across Wall Street warned about U.S. tariffs impacting economic outlook.

Citi is undergoing efforts to streamline operations and improve returns under CEO Jane Fraser. The bank is still working on improving data quality management and regulatory reporting. Citi also cut bonuses for top executives due to compliance issues. The bank plans to reduce reliance on IT contractors and hire thousands of IT employees.

Read more: Citigroup profit soars as stock trading jumps 23%