Citigroup Inc (C) Q4 2024 Earnings Report

Revenue Performance: Total revenue for Q4 2024 was $17.023 billion, reflecting a year-over-year increase of 12% and a quarter-over-quarter decrease of 14.29%. Fee-based revenues rose by 40% due to strong performances in services, banking, and wealth management.

Profitability Metrics: Net income surged to $2.856 billion, with an EPS of $1.34 and a RoTCE (Return on Tangible Common Equity) of 6.1%. The net profit margin stood at 16.8%, showcasing efficient expense management with reported expenses of $13.2 billion, a decrease of 18% from previous year due largely to the absence of prior restructuring charges.

Balance Sheet Health: As of end Q4 2024, Citigroup’s CET1 capital ratio was robust at 13.6%, offering a cushion above regulatory requirements. Total assets totaled approximately $2.357 trillion with significant liquidity resources at $933 billion. Long-term debt remained steady at $287.3 billion, indicating strong debt management strategies during this period.

- Market Conditions: Jane Fraser stated, "We entered 2025 with strategic clarity and good momentum across all our businesses."
- Revenue Growth: Mark Mason noted, "Total revenues were up 12% driven by growth in each of our businesses and a smaller impact of Argentina currency devaluation."
- Strategic Focus: Management is committed to simplifying the business structure while ramping up transformation efforts, emphasizing improving operational efficiency.

Citigroup presents a cautiously optimistic investment outlook, driven by solid performance metrics, strategic investments in transforming core businesses and a clear commitment to shareholder returns. The forward guidance supports stability with expectations of revenue growth and manageable risk factors. However, investors should remain vigilant of potential external challenges including regulatory responses and market volatility affecting profitability.