Citigroup (C) Tops Q4 EPS by 9c

Citigroup (NYSE: C) reported Q4 EPS of $1.46, $0.09 better than the analyst estimate of $1.37. Revenue for the quarter came in at $17 billion versus the consensus estimate of $16.77 billion.

Jane Fraser, Citi CEO, said: “With the announcement of our intention to focus our franchise in Mexico on our Institutional and Private Bank franchises, we have made the final decision related to the refresh of our strategy as it pertains to markets we intend to exit. We continue to make steady progress on executing our strategy as demonstrated most recently by the signing of an agreement to sell four consumer businesses in Asia. We are also aligning our organization and reporting structure with our strategy, including the creation of the Personal Banking and Wealth Management and Legacy Franchises segments. This will make it easier for our investors to understand the performance of our core businesses and optimize the businesses we have chosen to exit.

“We had a decent end to 2021 driving net income for the year up to $22 billion in what was a far better credit environment than the previous year. Citi returned nearly $12 billion of capital to shareholders and Tangible Book Value increased 7% during the year. We continue to Transform our bank with a focus on simplification and building a culture of excellence. We have seen the resilience and importance of Citi as we have supported our clients through uncharted waters and we will continue to serve them with pride," Ms. Fraser concluded.

For earnings history and earnings-related data on Citigroup (C) click here.

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