Citigroup Inc. (NYSE:C) today posted its financial results for the first quarter of 2026.

Markets revenues of $7.2 billion increased 19%, driven by growth in Fixed Income markets and Equity markets revenues.

Fixed Income markets revenues of $5.2 billion increased 13%, driven by growth in both rates and currencies and spread products and other fixed income. Rates and currencies revenues increased 6%, driven by revenue growth in the Forex business on higher volumes and optimization of the balance sheet, largely offset by lower revenue in rates on elevated volatility.

Equity markets revenues of $2.1 billion increased 39%, driven by growth in derivatives, prime services and cash equities.

Markets net income of $2.6 billion increased 40%, driven by higher revenues and a lower provision for credit losses, partially offset by higher expenses.

Across all segments, Citi reported net income for the first quarter 2026 of $5.8 billion, or $3.06 per diluted share, on revenues of $24.6 billion. This compares to net income of $4.1 billion, or $1.96 per diluted share, on revenues of $21.6 billion for the first quarter 2025.

Revenues increased 14% from the prior-year period, driven by growth in each of Citi’s five interconnected businesses and Legacy Franchises in All Other, as well as the impact of foreign exchange translation, partially offset by a decline in Corporate/Other, also in All Other.

Net income was $5.8 billion, compared to $4.1 billion in the prior-year period, driven by higher revenues and a lower effective tax rate, partially offset by higher expenses and a higher provision for credit losses.

Earnings per share of $3.06 increased from $1.96 per diluted share in the prior-year period, reflecting higher net income and a lower share count due to share repurchases.

Citi Chair and CEO Jane Fraser said:

“We’re off to an exceptionally strong start in 2026, with revenue up 14% and net income growing 42%. Services had an outstanding quarter with revenue up 17% and Markets crossed $7 billion in revenue.

Banking continued to build momentum with fees up 12% amid a record first quarter in M&A. Wealth saw revenue grow 11% and continued to improve its returns and U.S. Consumer Cards saw 4% revenue growth and returns of nearly 20%.

Our diversified business model continues to drive consistent revenue growth and we remain a source of financial strength and trust for our clients during uncertain times.

“We’ve entered into the final phase of our divestitures and 90% of our Transformation programs are now at or near our target state. We demonstrated our commitment to returning capital by repurchasing $6.3 billion shares during the quarter.

“We remain very much on track to deliver the 10-11% RoTCE target this year. I’m excited for next month’s Investor Day where we’ll discuss our path forward and how we will realize the significant upside Citi offers,” Ms. Fraser concluded.