| Information regarding the Company's operations by segment |
The following tables present certain information regarding the Company’s continuing operations by reportable business segment and All Other on a managed basis that excludes divestiture-related impacts. The CODM uses Income (loss) from continuing operations as the performance measure, to evaluate the results of each reportable business segment and All Other by comparing to and monitoring against budget and prior-year results. This information is used to allocate resources to each of the segments and All Other and to make operational decisions when managing the Company, such as whether to reinvest profits or to return capital to shareholders through dividends and share repurchases.
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | In millions of dollars, except identifiable assets,
average loans and average deposits in billions | Services | Markets | Banking | | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | | Net interest income | $ | 3,630 | | $ | 3,225 | | $ | 2,902 | | $ | 2,038 | | $ | 530 | | $ | 527 | | | Non-interest revenue | 1,432 | | 1,450 | | 2,977 | | 3,048 | | 1,391 | | 1,100 | | Total revenues, net of interest expense(1) | $ | 5,062 | | $ | 4,675 | | $ | 5,879 | | $ | 5,086 | | $ | 1,921 | | $ | 1,627 | | Compensation expense(2) | $ | 641 | | $ | 572 | | $ | 992 | | $ | 896 | | $ | 695 | | $ | 695 | | Non-compensation expense(1)(3) | 2,038 | | 2,157 | | 2,517 | | 2,409 | | 442 | | 436 | | Total operating expense(1) | $ | 2,679 | | $ | 2,729 | | $ | 3,509 | | $ | 3,305 | | $ | 1,137 | | $ | 1,131 | | | Provisions for credit losses and for benefits and claims | $ | 353 | | $ | (27) | | $ | 108 | | $ | (11) | | $ | 173 | | $ | (32) | | | Provision (benefits) for income taxes | 582 | | 475 | | 513 | | 323 | | 150 | | 119 | | | Income (loss) from continuing operations | 1,448 | | 1,498 | | 1,749 | | 1,469 | | 461 | | 409 | | Identifiable assets (June 30, 2025 and December 31, 2024) | $ | 618 | | $ | 584 | | $ | 1,166 | | $ | 949 | | $ | 148 | | $ | 143 | | | Average loans | 94 | | 82 | | 136 | | 119 | | 84 | | 89 | | | Average deposits | 857 | | 804 | | 18 | | 25 | | — | | 1 | | | | | | | | | In millions of dollars, except identifiable assets,
average loans and average deposits in billions | Wealth | USPB | | | 2025 | 2024 | 2025 | 2024 | | | | Net interest income | $ | 1,278 | | $ | 1,047 | | $ | 5,471 | | $ | 5,103 | | | | | Non-interest revenue | 888 | | 760 | | (352) | | (271) | | | | Total revenues, net of interest expense(1) | $ | 2,166 | | $ | 1,807 | | $ | 5,119 | | $ | 4,832 | | | | Compensation expense(2) | $ | 619 | | $ | 627 | | $ | 537 | | $ | 553 | | | | Non-compensation expense(1)(3) | 939 | | 908 | | 1,844 | | 1,802 | | | | Total operating expense(1) | $ | 1,558 | | $ | 1,535 | | $ | 2,381 | | $ | 2,355 | | | | | Provisions for credit losses and for benefits and claims | $ | (26) | | $ | (9) | | $ | 1,885 | | $ | 2,315 | | | | | Provision (benefits) for income taxes | 140 | | 71 | | 204 | | 41 | | | | | Income (loss) from continuing operations | 494 | | 210 | | 649 | | 121 | | | | Identifiable assets (June 30, 2025 and December 31, 2024) | $ | 228 | | $ | 224 | | $ | 251 | | $ | 252 | | | | | Average loans | 149 | | 150 | | 217 | | 206 | | | | | Average deposits | 308 | | 316 | | 90 | | 93 | | | | | | In millions of dollars, except identifiable assets,
average loans and average deposits in billions | All Other(4) | Reconciling Items(4) | Total Citi | | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | | Net interest income | $ | 1,364 | | $ | 1,553 | | $ | — | | $ | — | | $ | 15,175 | | $ | 13,493 | | | Non-interest revenue | 334 | | 419 | | (177) | | 33 | | 6,493 | | 6,539 | | Total revenues, net of interest expense(1) | $ | 1,698 | | $ | 1,972 | | $ | (177) | | $ | 33 | | $ | 21,668 | | $ | 20,032 | | | | | | | | | | | | | | | | Total operating expense(1) | $ | 2,276 | | $ | 2,106 | | $ | 37 | | $ | 85 | | $ | 13,577 | | $ | 13,246 | | | Provisions for credit losses and for benefits and claims | $ | 374 | | $ | 243 | | $ | 5 | | $ | (3) | | $ | 2,872 | | $ | 2,476 | | | Provision (benefits) for income taxes | (364) | | 35 | | (39) | | (17) | | 1,186 | | 1,047 | | | Income (loss) from continuing operations | (588) | | (412) | | (180) | | (32) | | 4,033 | | 3,263 | | Identifiable assets (June 30, 2025 and December 31, 2024) | $ | 212 | | $ | 201 | | | | $ | 2,623 | | $ | 2,353 | | | Average loans | 32 | | 34 | | | | 712 | | 680 | | | Average deposits | 70 | | 71 | | | | 1,343 | | 1,310 | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | In millions of dollars, except average loans and average deposits in billions | Services | Markets | Banking | | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | | Net interest income | $ | 7,128 | | $ | 6,542 | | $ | 4,915 | | $ | 3,744 | | $ | 1,021 | | $ | 1,109 | | | Non-interest revenue | 2,823 | | 2,896 | | 6,950 | | 6,699 | | 2,852 | | 2,254 | | Total revenues, net of interest expense(1) | $ | 9,951 | | $ | 9,438 | | $ | 11,865 | | $ | 10,443 | | $ | 3,873 | | $ | 3,363 | | Compensation expense(2) | $ | 1,273 | | $ | 1,196 | | $ | 2,010 | | $ | 1,874 | | $ | 1,327 | | $ | 1,419 | | Non-compensation expense(1)(3) | 3,990 | | 4,196 | | 4,967 | | 4,815 | | 844 | | 891 | | Total operating expense(1) | $ | 5,263 | | $ | 5,392 | | $ | 6,977 | | $ | 6,689 | | $ | 2,171 | | $ | 2,310 | | | Provisions for credit losses and for benefits and claims | $ | 404 | | $ | 37 | | $ | 309 | | $ | 188 | | $ | 387 | | $ | (161) | | | Provision (benefits) for income taxes | 1,226 | | 996 | | 1,035 | | 676 | | 312 | | 278 | | | Income (loss) from continuing operations | 3,058 | | 3,013 | | 3,544 | | 2,890 | | 1,003 | | 936 | | | | | | | | | | Average loans | $ | 91 | | $ | 82 | | $ | 132 | | $ | 120 | | $ | 83 | | $ | 89 | | | Average deposits | 842 | | 806 | | 17 | | 25 | | — | | 1 | | | | | | | | | | In millions of dollars, except average loans and average deposits in billions | Wealth | USPB | | | 2025 | 2024 | 2025 | 2024 | | | | Net interest income | $ | 2,552 | | $ | 2,028 | | $ | 11,012 | | $ | 10,329 | | | | | Non-interest revenue | 1,710 | | 1,466 | | (665) | | (388) | | | | Total revenues, net of interest expense(1) | $ | 4,262 | | $ | 3,494 | | $ | 10,347 | | $ | 9,941 | | | | Compensation expense(2) | $ | 1,288 | | $ | 1,273 | | $ | 1,091 | | $ | 1,117 | | | | Non-compensation expense(1)(3) | 1,909 | | 1,898 | | 3,732 | | 3,688 | | | | Total operating expense(1) | $ | 3,197 | | $ | 3,171 | | $ | 4,823 | | $ | 4,805 | | | | | Provisions for credit losses and for benefits and claims | $ | 72 | | $ | (179) | | $ | 3,696 | | $ | 4,519 | | | | | Provision (benefits) for income taxes | 215 | | 117 | | 434 | | 149 | | | | | Income (loss) from continuing operations | 778 | | 385 | | 1,394 | | 468 | | | | | Average loans | $ | 148 | | $ | 150 | | $ | 217 | | $ | 205 | | | | | Average deposits | 309 | | 316 | | 90 | | 97 | | | | | | | In millions of dollars, except average loans and average deposits in billions | All Other(4) | Reconciling Items(4) | Total Citi | | 2025 | 2024 | 2025 | 2024 | 2025 | 2024 | | Net interest income | $ | 2,559 | | $ | 3,248 | | $ | — | | $ | — | | $ | 29,187 | | $ | 27,000 | | | Non-interest revenue | 584 | | 1,100 | | (177) | | 21 | | 14,077 | | 14,048 | | Total revenues, net of interest expense(1) | $ | 3,143 | | $ | 4,348 | | $ | (177) | | $ | 21 | | $ | 43,264 | | $ | 41,048 | | | | | | | | | | | | | | | | Total operating expense(1) | $ | 4,500 | | $ | 4,791 | | $ | 71 | | $ | 195 | | $ | 27,002 | | $ | 27,353 | | | Provisions for credit losses and for benefits and claims | $ | 733 | | $ | 429 | | $ | (6) | | $ | 8 | | $ | 5,595 | | $ | 4,841 | | | Provision (benefits) for income taxes | (649) | | 23 | | (47) | | (56) | | 2,526 | | 2,183 | | | Income (loss) from continuing operations | (1,441) | | (895) | | (195) | | (126) | | 8,141 | | 6,671 | | | Average loans | $ | 31 | | $ | 33 | | | | $ | 702 | | $ | 679 | | | Average deposits | 66 | | 73 | | | | 1,324 | | 1,318 | |
(1) Effective January 1, 2025, certain transaction processing fees paid by Citi, primarily to credit card networks, reported within USPB, Services, Wealth and All Other—Legacy Franchises (Banamex and Asia Consumer), which were previously presented within Other operating expenses, are presented as contra-revenue within Commissions and fees reported in Non-interest revenue. Prior periods were conformed to reflect this change in presentation. (2) Excludes allocations of Compensation and benefits expense related to services provided by Corporate/Other within All Other, which are allocated from All Other to each segment, as applicable, through the non-compensation expense line. (3) Non-compensation expense for each segment includes allocated compensation and benefits-related costs from Corporate/Other within All Other to the respective segments, and expenses related to Technology/communication, Transactional and tax charges, Premises and equipment, Professional services, Advertising and marketing and Other operating (all of which include certain overhead expenses). (4) Segment results are presented on a managed basis that excludes divestiture-related impacts related to (i) Citi’s divestitures of its Asia Consumer businesses and (ii) the planned IPO of Banamex, within All Other—Legacy Franchises. Adjustments are included in Legacy Franchises within All Other and are reflected in the reconciliations above to arrive at Citi’s reported results in the Consolidated Statement of Income. The following table presents a reconciliation of total Citigroup income from continuing operations as reported:
| | | | | | | | | | | | | | | | Three Months Ended June 30, | Six Months Ended June 30, | | In millions of dollars | 2025(1) | 2024(2) | 2025(3) | 2024(4) | Total reportable business segments and All Other—income from continuing operations(5) | $ | 4,213 | | $ | 3,295 | | $ | 8,336 | | $ | 6,797 | | | Divestiture-related impact on: | | | | | | Total revenues, net of interest expense | (177) | | 33 | | (177) | | 21 | | | Total operating expenses | 37 | | 85 | | 71 | | 195 | | | Provision (release) for credit losses | 5 | | (3) | | (6) | | 8 | | | Provision (benefits) for income taxes | (39) | | (17) | | (47) | | (56) | | | Income from continuing operations | $ | 4,033 | | $ | 3,263 | | $ | 8,141 | | $ | 6,671 | |
(1) The three months ended June 30, 2025 includes (i) an approximate $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $37 million in operating expenses (approximately $26 million after-tax), primarily related to separation costs in Mexico. (2) The three months ended June 30, 2024 includes approximately $85 million in operating expenses (approximately $58 million after-tax), primarily related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi’s Quarterly Report on Form 10-Q for the period ended June 30, 2024. (3) The six months ended June 30, 2025 includes (i) an approximate $186 million loss recorded in revenue (approximately $157 million after tax) related to the announced sale of the Poland consumer banking business; and (ii) approximately $71 million in operating expenses (approximately $49 million after-tax), largely related to separation costs in Mexico and severance costs in the Asia exit markets. (4) The six months ended June 30, 2024 includes approximately $195 million in operating expenses (approximately $135 million after-tax), related to separation costs in Mexico and severance costs in the Asia exit markets. For additional information, see Citi’s Quarterly Report on Form 10-Q for the period ended June 30, 2024. (5) Reportable business segment results are presented on a managed basis that excludes divestiture-related impacts related to (i) Citi’s divestitures of its Asia Consumer businesses and (ii) the planned IPO of Banamex, within All Other—Legacy Franchises. Adjustments are included in Legacy Franchises within All Other and are reflected in the reconciliations above to arrive at Citi’s reported results in the Consolidated Statement of Income.
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