Among the details, the US lender said its private banking and wider wealth results showed growth on the revenue side.

Last week, Citigroup reported second quarter 2025 net income of $4.0 billion, on revenues of $21.7 billion, versus net income of $3.2 billion and revenues of $20 billion for the second quarter 2024.

The US bank said its wealth revenues of $2.2 billion represented a rise of 20 per cent on a year earlier, driven by growth across its Citigold, private bank and Wealth at Work channels. Net interest income stood at $1.3 billion in Q2 2025, rising 22 per cent, helped by higher deposit spreads, partially offset by lower mortgage spreads and lower deposit balances. 

Noninterest revenue in the wealth side was $888 million, rising 17 per cent, driven by a gain on the sale of an alternative investments fund platform and higher investment fee revenues, with client investment assets rising 17 per cent.

Private bank revenues of $731 million increased by 20 per cent.

Within the wealth business, client investment assets rose 17 per cent year-on-year to $635 billion at the end of June.

Citigroup as a whole had a Common Equity Tier 1 ratio of 13.5 per cent at the end of June. Citigroup’s total allowance for credit losses was approximately $23.7 billion at quarter end, compared with $21.8 billion at the end of the prior-year period. During Q2 2025, the bank returned about $3.1 billion to common shareholders in the form of dividends and share repurchases.

“We reported another very good quarter and continue to demonstrate that our strong results are sustainable through different environments. We’re improving the performance of each of our businesses to take share and drive higher returns," Jane Fraser (pictured), chief executive, said.


Jane Fraser

The US bank's operating costs stood at $13.6 billion, rising 2 per cent on a reported basis, driven by higher compensation and benefits expenses, largely offset by lower tax-related and deposit insurance costs as well as the absence of the civil money penalties in the prior-year period. The higher compensation and benefits expenses were driven by higher severance of approximately $400 million, primarily related to the realignment of the technology workforce, higher volume and other revenue-related expenses and higher investments in Citi’s transformation and technology, with productivity savings and stranded cost reductions partially offsetting continued investments in the businesses. Excluding divestiture-related impacts in both periods, costs rose 3 per cent.

Since the start of 2025, shares in Citigroup have risen about 33.2 per cent.