Citigroup announced a $30 billion common stock repurchase commitment and a 12% dividend increase starting in the third quarter, while maintaining its full-year 2026 return on tangible common equity target of 10% to 11%. The bank reported second-quarter net income of $5.8 billion, earnings per share of $3.15, and a return on tangible common equity of 13% on revenues of $24.8 billion, which CEO Jane Fraser called Citi's best quarterly revenue in a decade. During the quarter, Citi bought back $4 billion of stock under the new $30 billion commitment and ended with a CET1 ratio of 12.8%, approximately 120 basis points above its regulatory requirement. Management cautioned that Markets revenues historically decline about 20% between the first and second half of the year and that the magnitude could be greater this year, while also signaling flexibility to accelerate investments if conditions remain constructive.
Citigroup Inc.Citigroup announced a $30 billion buyback plan, 12% dividend increase, and strong Q2 earnings with 13% RoTCE.
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